Bank of Canada Balance Sheet QT: -52% from Peak, QT Continues even after Third Rate Cut by Wolf Richter • Sep 10, 2024 • 26 Comments Repo activity wakes up again.
This May Be the End of the Massive Deflation in Used Vehicles that Pushed Down Core CPI: Wholesale Prices Surge for 2nd Month amid Strong Sales Growth & Tight Inventories by Wolf Richter • Sep 9, 2024 • 88 Comments Wholesale prices jumped across the board but spiked the most for EVs.
The Fed Has Room to Cut, Rates Are High Relative to Inflation, and Job Growth Could Use some Juicing Up by Wolf Richter • Sep 6, 2024 • 194 Comments Job growth bounces back some, hourly earnings jump, unemployment dips, but job growth is too slow to absorb the massive influx of immigrants.
Fed Balance Sheet QT: -$66 Billion in August, -$1.85 Trillion from Peak, to $7.11 Trillion, back to June 2020, Another QT Milestone by Wolf Richter • Sep 5, 2024 • 82 Comments Quantitative Tightening has shed so far 38% of the assets that pandemic QE had added.
Buyers’ Strike Deepened in August Despite Lower Mortgage Rates. Listings Surge, Home Sellers Slowly Drop Prices by Wolf Richter • Sep 5, 2024 • 105 Comments Listing prices, YoY: Miami -11.7%, San Diego -9.1%, Kansas City -8.5%, San Francisco -7.7%, Austin -7.6%. Active listings explode in Tampa, San Diego, Miami, Seattle…
Why We’ll Replace the Case-Shiller Home Price Index for Our Series, “The Most Splendid Housing Bubbles in America” by Wolf Richter • Sep 2, 2024 • 99 Comments The series, started in 2017 to document visually the surging home prices amid the Fed’s interest rate repression, will now get bigger and better.
Our Drunken Sailors Are at it Again, Not at All in the Mood for a Slowdown or a Recession by Wolf Richter • Aug 30, 2024 • 161 Comments Inflation-adjusted consumer spending jumped. They splurged on durable goods. And still saved some. In response, the Atlanta Fed’s GDPNow jumped.
Spiking Interest Payments on the Ballooning US Government Debt v. Tax Receipts, GDP, and Inflation: Q2 Update by Wolf Richter • Aug 29, 2024 • 91 Comments Burden of the national debt: The portion of tax receipts swallowed by interest payments.
Treasury Department Aggressively Pushes Down Long-Term Interest Rates via Shift to T-bill Issuance and Bond Buybacks by Wolf Richter • Aug 28, 2024 • 168 Comments But buybacks occur at huge losses for investors. Today it bought back a 1.25% 20-year bond for 66 cents on the dollar.
Here Come the HELOCs: Mortgages, the Burden of Mortgage Debt, Delinquencies, and Foreclosures in Q2 by Wolf Richter • Aug 7, 2024 • 75 Comments Delinquencies mostly edged down. Foreclosures form a frying pan pattern.
