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.
ECB Balance Sheet Plunged by €1.6 Trillion (-18%) from Peak. Bond Roll-Off Speeds Up by Wolf Richter • Jul 5, 2023 • 85 Comments Spooked by relentlessly raging inflation in services, ECB puts QT into higher gear.
Inflation Shocker in the UK: Core CPI Spikes to 30-Year High, Driven by Spike in Services, even as Motor Fuel Prices Plunge by Wolf Richter • Jun 21, 2023 • 137 Comments Bond yields jump as they begin to price in more BOE rate hikes, and higher for longer than previously imagined.
Inflation Dishes Out Another Nasty Surprise: All Heck Breaks Loose in UK Services CPI & Core CPI, with Scary Monthly Spikes & Multi-Decade Year-over-Year Highs by Wolf Richter • May 24, 2023 • 92 Comments Food Inflation Raged at 19%. But energy prices plunged. In response, UK government bond yields spiked, pricing in higher BOE policy rates.
Meta Fined “Unprecedented” $1.3 billion by EU = 17 Days of Pre-Tax Income, LOL by Wolf Richter • May 22, 2023 • 65 Comments LOLs keep piling up. Cost of doing business. Nevertheless, Meta came out swinging against it.
Despite Banking Turmoil, ECB Accelerates QT plus Hikes by 25 Basis Points. Balance Sheet Plunged by €1.12 Trillion so Far by Wolf Richter • May 4, 2023 • 36 Comments “We’re not pausing, that’s very clear,” Lagarde said. “We know we have more ground to cover.”
Just in Time for ECB Rate-Hike Meeting: Eurozone Services Inflation Spikes to New Record. Overall Inflation Re-Accelerates by Wolf Richter • May 2, 2023 • 87 Comments These nasty surprises just keep coming when inflation is broadly entrenched in the economy.
Total Wipeout of $17 billion in Credit Suisse AT1 CoCo Bonds Shocked Because No One Reads Clauses Anymore? by Wolf Richter • Mar 20, 2023 • 193 Comments We’re not even getting peanuts? EU regulators came out and said, no, no, no, that’s just in Switzerland, not in the EU.
Defying Pivot-Mongers, ECB Hikes by 50 Basis Points, QT Continues, Explains Tools to Calm a Bank Panic while Fighting Inflation Simultaneously by Wolf Richter • Mar 16, 2023 • 129 Comments A hugely important concept: “There is no trade-off between price stability and financial stability.”
ECB Balance Sheet Drops by €1 Trillion from Peak: QT Milestone by Wolf Richter • Mar 7, 2023 • 92 Comments Step 1 of QT is operating at full speed. Step 2 of QT is just starting.
