The Fed Bought No Bond ETFs (None, Zero, Zilch) in August. ETF Holdings Actually Fell. Bought Almost No Corporate Bonds by Wolf Richter • Sep 9, 2020 • 57 Comments The Fed stepped away from the market after its jawboning created the biggest bond bubble ever.
Used-Vehicle Market Digs Out from Supply-and-Demand Chaos that Caused Enormous Distortions in Wholesale Prices by Wolf Richter • Sep 8, 2020 • 92 Comments After spiking for months, used-vehicle wholesale prices turned south in late August, wholesale volume plunged again.
On Fumes of Stimulus: California Starts Sending Out $900 Lump-Sum FEMA-Funded Unemployment Payments on Labor Day by Wolf Richter • Sep 7, 2020 • 152 Comments Most states are also rolling it out. On top of other stimulus programs and housing payment deferrals via eviction bans & mortgage forbearance
“Prolonged Period of Risk to Institutional and Retail Investors of Further – Possibly Significant – Market Corrections” by Nick Corbishley • Sep 7, 2020 • 36 Comments The European Market Regulator flags big issues, including the “decoupling of financial market performance and underlying economic activity.”
THE WOLF STREET REPORT: This Tech-Stock Sell-Off Is a Sign Something Broke by Wolf Richter • Sep 6, 2020 • 135 Comments SoftBank was only a cog in the huge machinery.
The Wild Ride of the Giant 5 Stocks (APPL, MSFT, AMZN, GOOG, FB) v. the Rest of the Market by Wolf Richter • Sep 5, 2020 • 171 Comments Suddenly, a whiff of “Don’t fight the Fed?”
Tesla Not Added to S&P 500 Index, Shares Plunge After-Hours: Triple-WTF Chart of the Year Turns into Sharp Spike by Wolf Richter • Sep 4, 2020 • 148 Comments Four Days of Free-Fall Mania. Dream goes up in smoke. Passed over by Etsy, Teradyne, and Catalent.
Wall Street’s New Meme: Selloff is “Good News for Tech Stocks” after Robinhood Call-Options Traders Are Properly Wiped Out by Wolf Richter • Sep 4, 2020 • 108 Comments If stocks made a sudden connection to the worst economy in a lifetime, after having been disconnected for months, that would be a disaster, however.
San Francisco Unicorn Juul to Lay Off Over Half its Remaining Staff: Altria’s $12.8 Billion Go to Heck, But Not in a Straight Line by Wolf Richter • Sep 3, 2020 • 62 Comments From 3,200 employees down to 1,000 employees in half a year.
Work from Home Gets Entrenched: Embraced by Workers & Businesses in the UK, it’s Upending Real Estate, Retail, Restaurants, Bars, Cafés by Nick Corbishley • Sep 3, 2020 • 99 Comments “The contract between society and business has changed forever.”
