CRE Mess Not Letting Up: CMBS Delinquency Rates Jump in September as Office, Retail, and Lodging Deteriorate Further by Wolf Richter • Sep 30, 2024 • 57 Comments Rate cuts cannot fix the structural issues crushing office & retail CRE. But industrial, fueled by ecommerce, is in good condition.
Status of the US Dollar as Global Reserve Currency: Share Drops to Lowest since 1995. Central Banks Diversify to “Nontraditional” Currencies and Gold by Wolf Richter • Sep 28, 2024 • 146 Comments But China’s renminbi keeps losing ground.
Consumer Income & Savings Rate Revised Massively Higher for 2 Years, Spending Revised Up Too. Stunning Numbers by Wolf Richter • Sep 27, 2024 • 79 Comments Our Drunken Sailors earned and saved a lot more than we thought, spent more too, causing substantial up-revisions to post-pandemic GDP.
Fed Favored Annual Core PCE Price Index Accelerates to 2.7%, Highest since April, on Higher Core Services Inflation (+3.8%). Durable Goods -2.2%, Energy -10% by Wolf Richter • Sep 27, 2024 • 85 Comments Housing costs jumped. Stubbornly high housing inflation has frustrated Powell for a long time.
Corporate Pricing Power and Therefore Inflation Not Vanquished, Says Renewed Spike in Corporate Profits in Most Industries by Wolf Richter • Sep 26, 2024 • 98 Comments More evidence that underlying inflation dynamics are thriving.
Here Comes the Inventory of New Spec Houses, Highest since 2009. Sales Jump, Builders Take Share from Homeowners by Wolf Richter • Sep 25, 2024 • 111 Comments This buildup of completed single-family houses is a factor in resolving the price dislocations of the overall housing market.
Who Holds all these US Treasury Securities? Update on the Investors in the Ballooning US National Debt in Q2 by Wolf Richter • Sep 24, 2024 • 94 Comments As the Fed is unloading them, others are loading up.
Job Losses Pile Up at Tech & Social Media Companies in San Francisco & Silicon Valley after Reckless Hiring Frenzy by Wolf Richter • Sep 24, 2024 • 123 Comments A reckoning with budding parallels to the Dotcom Bubble & Bust, while other sectors continue to grow. Unemployment rate rose to 3.9%.
Days after Rate Cut, S&P’s Flash PMI Sees Rising Inflation and Exhorts the Fed to “Move Cautiously” with “Further Rate Cuts” by Wolf Richter • Sep 23, 2024 • 130 Comments “The “reacceleration of inflation” suggests “the Fed cannot totally shift its focus away from its inflation target.”
The Yield Curve Before & After the Rate Cut: Why Have Longer-Term Yields Risen since the Rate Cut? Already Priced in? Inflation Concerns as Policy Loosens in a Decent Economy? by Wolf Richter • Sep 21, 2024 • 156 Comments Mortgage rates also ticked up.
