With Home Prices Way Too High, More People Profit from Arbitraging Vast Cost Difference between Renting and Buying by Wolf Richter • Nov 8, 2024 • 207 Comments Sky-high prices, today’s mortgage rates, property taxes on those sky-high prices, and spiking homeowners’ insurance costs create a peculiar situation that more and more people are taking advantage of.
Fed’s Balance Sheet Drops Below $7 Trillion. QT: -$53 Billion in Oct., -$1.97 Trillion from Peak, to $6.99 Trillion, Back to May 2020 by Wolf Richter • Nov 7, 2024 • 83 Comments Quantitative Tightening has shed 41% of the assets that the Fed had added during pandemic QE.
Fed Cuts by 25 Basis Points, to 4.75% Top of Range, as Telegraphed to Backpedal from Monster Cut. QT Continues by Wolf Richter • Nov 7, 2024 • 108 Comments “The Committee judges that the risks to achieving its employment and inflation goals are roughly in balance.”
THANK YOU 💖 for Your Awesome Support of WOLF STREET!!! And if You Missed it, a Reminder: Please Donate by Wolf Richter • Nov 6, 2024 • 16 Comments Your support is what keeps Wolf Street open to all, not hidden behind a paywall, to reach the largest possible audience.
Longer-term Treasury Yields & Mortgage Rates Explode, Yield Curve Un-Inverts Further as Bond Market Gets Spooked by Wolf Richter • Nov 6, 2024 • 205 Comments Going to further crush demand for existing homes. Bondholders feel the pain.
Social Security Update Fiscal 2024: Trust Fund, Income, Outgo, and Deficit by Wolf Richter • Nov 4, 2024 • 114 Comments Contributions rose by 5.6%, but benefit payments rose by 8.5%. The Trust Fund paid for the deficit, so its balance declined further, to $2.6 trillion.
Office CMBS Delinquency Rate Spikes to 9.4%, Highest Since Worst Months after the Financial Crisis by Wolf Richter • Nov 4, 2024 • 98 Comments “Survive till 2025” is the motto in CRE now, but that might not work either.
Buffett T-bills & Chills: Piled up T-bills, Ditched Stocks, Bonds, and Share Buybacks in Q3 by Wolf Richter • Nov 2, 2024 • 102 Comments Oracle of Omaha will sit on lots of dry powder when the S hits the fan and there will finally be some stocks worth buying.
Fed’s ON RRPs Plunge to $155 Billion as QT Drains Liquidity, Nothing Blown Up Yet. SOFR & TGCR Spreads Begin to Move by Wolf Richter • Nov 1, 2024 • 62 Comments “Such temporary rate pressures can be price signals” that help markets redistribute liquidity to where it’s needed most: Fed’s Logan.
Hurricanes Helene & Milton and the Boeing Strike Make Mess of Jobs Report. And Wages Surge by Wolf Richter • Nov 1, 2024 • 30 Comments Upon the data’s implications for inflation, the bond market puckered its lips: 10-year Treasury yield jumped to 4.35%, highest since early July.
