QT Continues: ECB Balance Sheet: -€2.39 Trillion or -27% from Peak, to €6.45 Trillion, Lowest since August 2020 by Wolf Richter • Aug 20, 2024 • 41 Comments Combined QT by the Fed and ECB removed $4.4 trillion in liquidity so far. A couple of years ago, this would have been an unimaginable feat.
The Foreign Investors Who Bought the Recklessly Ballooning US Debt: July Update by Wolf Richter • Jul 18, 2024 • 86 Comments Who is still buying the US debt is an increasingly important question. Here are the foreign investors.
The Most Splendid Housing Bubbles in Europe: Biggest Price Drops in Germany, Finland, Sweden, Austria, France, Denmark by Wolf Richter • Jul 6, 2024 • 80 Comments But new highs in Portugal, Spain, Poland, Belgium, Ireland, Romania. A wild ride.
Inflation Saga Far from Over: Services CPI in the Euro Area Refuses to Slow for 8th Month in a Row by Wolf Richter • Jul 2, 2024 • 66 Comments Lagarde frets over surging labor costs feeding into services inflation.
The Foreign Holders of the Ballooning US Debt: They’re Buying, But Don’t Keep Up by Wolf Richter • Jun 19, 2024 • 120 Comments As China dumps Treasury securities, the Euro Area, Canada, and financial centers load up with immense appetite.
Hot Wage Growth Bedevils Wishlist for ECB Rate Cuts by Wolf Richter • Jun 17, 2024 • 41 Comments Wages jumped by 5.3% in the Euro Area, matching the prior record. The ECB pointed at wage growth as a risk to its inflation outlook.
Rate-Cut Mania’s 20.7% Spike in French Stock Market Comes Home to Roost by Wolf Richter • Jun 14, 2024 • 54 Comments When stuff gets inflated like this, no one should be surprised when it gets deflated.
Bank of England to Sell All Remaining Bonds and Use Repos Instead to Manage Liquidity & Financial Stability by Wolf Richter • May 25, 2024 • 117 Comments Back to the future: With repos, not QE, is how central banks handled issues before 2008. The Fed also revived tools to go back into that direction.
ECB Balance Sheet QT: -€2.2 Trillion from Peak, to €6.61 Trillion. Shed 25% of Total Assets, 53% of Pandemic QE by Wolf Richter • Apr 7, 2024 • 38 Comments Fed and ECB combined removed $4 trillion in liquidity. Inflation, after decades of calm, is hammering some sense into these central banks.
Prices of Existing Homes in Germany Tank 14% so far, as ECB-Fueled Housing Bubble Turns into Housing Bust by Wolf Richter • Mar 22, 2024 • 112 Comments Germany is an example of what interest-rate repression and QE do to home prices, and what happens when inflation causes those policies to be reversed.
