Even Higher for Longer if Markets Keep Fighting Central Banks, ECB’s Wunsch Explains. The Fed Has Same Problem by Wolf Richter • Nov 22, 2023 • 199 Comments “If the markets don’t infer from this that it’ll be high for longer, we’ll have to use our rate instruments and hike to get where we want to go.”
End of Free Money Plunges German Construction Industry into Crisis by Wolf Richter • Oct 16, 2023 • 122 Comments A black swan of sorts no one was ready for: Negative interest rates turned positive, and all heck broke loose in the property development sector.
ECB Balance Sheet QT: -€1.77 Trillion from Peak, now down to €7.07 Trillion. Shed 43% of Pandemic QE Assets by Wolf Richter • Oct 5, 2023 • 29 Comments More QT and fewer rate hikes?
QE Giveth, QT Taketh Away: German Home Prices vs. ECB Balance Sheet by Wolf Richter • Sep 22, 2023 • 143 Comments The QT show started less than a year ago. German home prices -11%, ECB assets -19%.
UK Services Inflation Spikes to 40-Year High. A Global Phenomenon: All Heck Has Broken Loose in Services by Wolf Richter • Aug 16, 2023 • 56 Comments But motor fuel prices plunge, and inflation in durable goods and food cools – same as everywhere.
Runaway Services Inflation in Euro Area Spikes to Record. Core CPI Stays Near Record. Energy-Price Plunge Pushes Down Overall CPI by Wolf Richter • Jul 31, 2023 • 70 Comments “The drivers of inflation are changing…. Domestic price pressures, including from rising wages and robust profit margins,” are increasingly important: ECB
After 2 Months of Relentless “Core CPI Has Peaked” in Euroland, Services CPI Spikes to Record, Core CPI Worsens by Wolf Richter • Jul 19, 2023 • 118 Comments All eyes are now on underlying inflation. Forget the collapsing energy prices that pushed down overall CPI.
Time to Look at Foreign Demand for the Incredibly Ballooning US National Debt by Wolf Richter • Jul 19, 2023 • 92 Comments As China unloaded Treasury securities and Japan propped up the yen, other countries loaded up.
US Dollar’s Status as Global Reserve Currency on Slow Long-Term Decline, but Not Going Down in a Straight Line by Wolf Richter • Jul 15, 2023 • 222 Comments An important thing to keep our eyes on these days.
Honey, the Dollar’s Collapsing Again: USD against Yen, Euro, Peso, Other Currencies amid Inflation, Rate Hikes, and QT (or Lack Thereof) by Wolf Richter • Jul 14, 2023 • 164 Comments In other words, after a spike, the dollar dropped back to the higher end of the normal 20-year range. But the yen is a sloppy mess.
