Treasury Market Had a Cow, Mortgage Rates Jumped, Wall Street Crybabies Clamored for Help, But the Fed Smiled Satisfied Upon its Creation by Wolf Richter • Feb 27, 2021 • 207 Comments Junk bonds still in la-la-land as investors chase yield – risks be damned.
Just Don’t Expect “Pent-up Demand” from Consumers. Here’s Why by Wolf Richter • Feb 26, 2021 • 200 Comments Free money whipped consumers into a rollicking eight-month splurge on goods. There’s nothing “pent up.” And services are not a shoo-in for “pent-up demand.”
Fed’s QE: Assets Hit $7.6 Trillion. Long-Term Treasury Yields Spike Nevertheless, Wall Street Crybabies Squeal for More QE by Wolf Richter • Feb 26, 2021 • 182 Comments From crisis to crisis, and even when there’s no crisis.
More Shifts in the Year of the Plague: Driving Plunged even as Mass Transit Ridership Collapsed by Wolf Richter • Feb 25, 2021 • 87 Comments “L-shaped recovery” for mass transit. Per person, vehicle miles were already in long-term decline since 2003. Than came 2020.
Global Green Energy Zombie Abengoa, Caught Cooking its Books in 2015 & Bailed Out Twice, Finally Runs Out of Bailouts, Files for Bankruptcy, 2nd Largest in Spanish History by Nick Corbishley • Feb 25, 2021 • 43 Comments Biggest beneficiaries of the now scuttled rescue plan would have been private equity firm KKR and Banco Santander.
Why It’s Good for San Francisco that Rents Dropped 29% to Multiyear Low. But They Haven’t Dropped Nearly Enough Yet by Wolf Richter • Feb 24, 2021 • 219 Comments The market is working on a solution to the “Housing Crisis” and “Exodus.”
Exodus from Big Expensive Cities Running out of Steam? Maybe. But Rents in San Francisco & Los Angeles Hit New Multiyear Low by Wolf Richter • Feb 24, 2021 • 106 Comments Massive Pandemic Shifts that triggered plunging rents in the most expensive cities and surging rents in cheaper cities still on display.
Macy’s Brick & Mortar Sales -35%, Digital +21%. Walmart Online +69%, US Ecommerce +32%. Online Furniture, Grocery, Clothing Sales Explode as Brick & Mortar Melts Down by Wolf Richter • Feb 23, 2021 • 135 Comments Mall landlords, even the biggest, are turning malls over to their lenders.
The Growing Pains of Brexit, 50 Days In by Nick Corbishley • Feb 23, 2021 • 121 Comments The crucial services exports, manufacturing exports and imports, the arts & entertainment industry, fishing industry… it’s a mess.
It Starts: The Cascading Financial Repercussions of the Texas Electricity Crisis by Wolf Richter • Feb 22, 2021 • 140 Comments Now hoping for “corrective action” and “credit intervention” by the State of Texas.
