Euro Inflation without Energy Hits Record, Services CPI Hits Record. Subsidies, Drop in Energy Push Down Overall CPI by Wolf Richter • Jan 6, 2023 • 81 Comments The ECB reacts to raging inflation, unloads a massive chunk of assets, hikes rates.
Status of US Dollar as Global Reserve Currency: USD Exchange Rates Hit Foreign Exchange Reserves by Wolf Richter • Jan 1, 2023 • 157 Comments Complicated times for the dollar. The Chinese Renminbi, a distant also-ran, loses ground.
ECB’s Balance Sheet Plunges by €492 billion in One Week and by €850 Billion from Peak by Wolf Richter • Dec 28, 2022 • 86 Comments Monetary Rug-Pull? December dump in the markets anything to do with global QT?
Natural Gas Futures in Europe Plunge 77% from Crazy Spike by Wolf Richter • Dec 28, 2022 • 92 Comments Record supply of LNG from the US and other sources. Record supply from Norway via pipeline. Conservation, power production shift… It adds up.
Stocks Open Eyes, See Fed Pivot Hawkish; ECB Hike into Recession, Start QT; BoE Hike into Recession; SNB Hike, Sell Foreign Currency Assets by Wolf Richter • Dec 15, 2022 • 149 Comments ECB’s assets drop by €800 billion. Mexico hiked too today, way ahead of the Fed, keeps peso from falling against USD.
Euro Inflation without Energy Rages to New Record. Overall CPI Second Worst Ever by Wolf Richter • Nov 30, 2022 • 133 Comments The ECB’s horror show.
The Swiss National Bank Began Unloading its Biggest US Stock Holdings, incl. Apple, Microsoft, Amazon, Alphabet, Meta by Wolf Richter • Nov 11, 2022 • 154 Comments It still bought Tesla though, which is down by 52%. It took massive losses. And it’s got a bunch of Imploded Stocks.
Bank of England Hikes 75 Basis Points, Most since 1989, to 3%. Hopes Raging Inflation Will “Fall Sharply” in mid-2023. If Not, “Will Respond Forcefully” by Wolf Richter • Nov 3, 2022 • 59 Comments But in Q4, inflation will shoot to 11%, the BOE said. Media reported it as a “dovish” monster rate hike. Whatever.
Bank of England Sold Bonds Outright Today to Speed up QT, Will Sell More at Regular Auctions: First Major Central Bank to Sell Bonds Outright by Wolf Richter • Nov 1, 2022 • 99 Comments It went fine. Gilt yields are way down from panic highs. Another dream of the “pivot” mongers goes to heck.
Horror-Show Inflation in Euro Countries: Overall 10.7%, Germany 11.6%, Without Energy 6.9% by Wolf Richter • Oct 31, 2022 • 157 Comments “Defeating inflation is our mantra, our mission, our mandate,” that’s “why we have to raise interest rates”: Lagarde now after years of money-printing.
