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.
Inflation Saga Far from Over: Services Inflation in Euro Area Just as Stubborn as in the US, Makes Very Disconcerting Moves by Wolf Richter • Mar 1, 2024 • 133 Comments Over the three months through February, services inflation has been running at roughly the same hot rate as during the peak a year ago.
ECB Balance Sheet QT: Down €2.0 Trillion from Peak, to €6.83 Trillion. The ECB Shed 48% of its Pandemic QE Assets by Wolf Richter • Feb 28, 2024 • 55 Comments A big milestone for Quantitative Tightening in the euro area.
US Office CRE Mess Is Spread Far and Wide across Investors & Banks Globally. US Banks Eat only a Portion of the Losses by Wolf Richter • Feb 5, 2024 • 93 Comments Japanese, Canadian, and European banks started to confess. And for over a year, huge losses have hit investors, not banks.
Status of US Dollar as Global Reserve Currency and USD Exchange Rates: Long, Slow, Uneven Decline Continues by Wolf Richter • Jan 1, 2024 • 104 Comments China’s renminbi keeps losing ground, after initial progress. But the tiny “other” reserve currencies combined are taking share from the USD.
Stock Markets Years & Decades after Huge Bubbles Imploded: China, Hong Kong, Japan, UK, France, Germany, Italy, and Spain by Wolf Richter • Dec 31, 2023 • 146 Comments This cannot possibly happen to US markets because US markets are special?
