Credit-Market Mania Crushed “Yield Spreads” & Risk Premiums, but Corporate & CRE Borrowing Costs Are Still Much Higher by Wolf Richter • Dec 9, 2024 • 45 Comments Loosey-goosey financial conditions don’t mean low borrowing costs. They just mean narrow yield spreads.
Fed Balance Sheet QT: -$98 Billion in November, -$2.07 Trillion from Peak, to $6.90 Trillion, Lowest since May 2020 by Wolf Richter • Dec 5, 2024 • 71 Comments Quantitative Tightening has shed 43% of the assets the Fed had added during pandemic QE. Bank-panic facility BTFP is vanishing.
Cut the Price and They Will Come: New-Vehicle Sales Jump amid Big Discounts and Incentives, as Inventory Balloons by Wolf Richter • Dec 4, 2024 • 91 Comments But prices are still way too high, and automakers are not cutting them nearly enough.
Office CMBS Delinquency Rate Spikes to 10.4%, Just Below Worst of Financial Crisis Meltdown. Fastest 2-Year Spike Ever by Wolf Richter • Nov 30, 2024 • 83 Comments Office-to-residential conversions are growing, but are minuscule because not many towers are suitable for conversion.
Federal Government Interest-Payments-to-Tax-Receipts Ratio Spikes, Debt-to-GDP Worsens Further in Q3 by Wolf Richter • Nov 29, 2024 • 149 Comments The magnitude and speed of the ratio’s 2-year spike is unprecedented in modern US history. It does not look good.
Operating Losses and “Unrealized” Losses of the Federal Reserve in Q3 2024 by Wolf Richter • Nov 23, 2024 • 86 Comments QE was a huge gravy train for taxpayers. But then came the hangover.
US Dollar Crushes Euro, Yen, Canadian Dollar, other Currencies as Fed Backpedals on Pace of Rate Cuts by Wolf Richter • Nov 22, 2024 • 64 Comments Amid renewed inflation worries and above-average economic growth.
Demand Destruction for Existing Homes: Sales in 2024 Track Lowest since 1995 amid Highest Supply for October in 6 Years by Wolf Richter • Nov 21, 2024 • 132 Comments Too-high home prices cause demand destruction on an epic scale. Buyers’ strike continues in November and December.
Credit Card Delinquency Rates, Balances, Burden, and Available Credit in Q3 2024 by Wolf Richter • Nov 19, 2024 • 83 Comments Americans far from “tapped out.” Credit card delinquency rate dips to 3.2% (Fed), “prime” delinquency rate 0.99% (Fitch), “subprime” gets over free-money hangover.
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.
