In Edgy Bond Market, 30-Year Treasury Yield Hits 3-Month High, 10-Year Yield Hits 1-Month High, Mortgage Rates Jump by Wolf Richter • Dec 8, 2025 • 77 Comments The expected rate cut gets complicated: A dovish Fed amid rising inflation can spook the bond market.
The Fed Will Talk a lot about “Reserve Balances” and “Reserve Management Purchases” at its FOMC Meetings by Wolf Richter • Dec 8, 2025 • 56 Comments What Are They? And why now?
Fed Balance Sheet QT: -$37 Billion in November, -$2.43 Trillion from Peak, to $6.54 Trillion by Wolf Richter • Dec 4, 2025 • 61 Comments Standing Repo Facility at zero, after doing its job calming the repo market at month-end. QT ended on December 1, but in November, QT continued.
Mortgage Rates Are Not Too High. What’s too High Are Home Prices that Exploded by 40-70% in 2 Years, Creating the “Affordability Crisis” by Wolf Richter • Nov 29, 2025 • 178 Comments But there is a solution to this affordability crisis.
Amazing How Central Bank Money-Printing Reversed around the World after the Inflation Shock by Wolf Richter • Nov 27, 2025 • 80 Comments Balance sheets of the Fed, ECB, BOJ, BOE, and central banks of China, Canada, Australia, Switzerland, and India as % of GDP.
Treasury Market Scuttles Hope for December Rate Cut, Doubts January Cut, after Hawkish Fed Minutes by Wolf Richter • Nov 19, 2025 • 31 Comments “Many participants suggested that … it would likely be appropriate to keep the target range unchanged for the rest of the year.”
Another Sign that a Major Rethink of the Size of the Fed’s Balance Sheet Is Gaining Momentum by Wolf Richter • Nov 17, 2025 • 103 Comments Warsh, on the shortlist for Fed Chair, advocates for more QT, a smaller balance sheet, and lower short-term rates, in sync with Bessent.
Government Sold $694 Billion of Treasuries this Week, Debt Hits $38.2 Trillion, Treasury Yields Rise Further, Shift to T-Bills Begins by Wolf Richter • Nov 14, 2025 • 145 Comments Long-term Treasury yields under pressure, amid large auctions of notes and bonds, despite shift to T-bills.
Entire Treasury Yield Curve from 3 Months to 30 Years Has Risen since Fed’s Rate Cut. Mortgage Rates too. Bond Market Edgy about Inflation & Supply by Wolf Richter • Nov 9, 2025 • 145 Comments The 6-month Treasury yield sees Fed on hold in December. Cutting rates as inflation accelerates is a delicate operation that the bond market isn’t fond of.
Fed Balance Sheet QT: -$14 Billion in October, -$2.39 Trillion from Peak, to $6.57 Trillion, Standing Repo Facility Back to Zero by Wolf Richter • Nov 6, 2025 • 57 Comments The SRF did its job. Month-end repo market turmoil, exacerbated by effects of the government shutdown, has settled down.
