Home Sales Sag Further, Hit by Mortgage Rates. Price Cuts & Active Listings Surge. Median Price Skewed by Surge in High-End Sales by Wolf Richter • Jun 21, 2024 • 217 Comments Sales in the mid- and lower range swoon as many people who need a mortgage seem to be waiting for lower rates.
Beneath the Skin of CPI Inflation: A Stunning Outlier Services CPI Drove Down Everything Else by Wolf Richter • Jun 12, 2024 • 131 Comments Services are big, and that one-month outlier was massive, and it drove down Core CPI and overall CPI.
Used Car Wholesale Prices Continue Plunge, Gave up 59% of Pandemic Spike. But still up 35% from Jan 2020: EVs +72%, ICE Vehicles +34% by Wolf Richter • Jun 10, 2024 • 92 Comments Compact trucks +70% since Jan 2020; full-size pickups +39%, SUVs +30%, compact cars +20%. Auto insurance +44% since Jan 2022.
Fed Balance Sheet QT: -$107 Billion in May, -$1.71 Trillion from Peak, to $7.26 Trillion, Lowest since December 2020 by Wolf Richter • Jun 6, 2024 • 149 Comments Quantitative Tightening has removed 40% of Treasury securities and 28% of MBS that pandemic QE added.
THANK YOU đź’– for Your Wonderful Support of WOLF STREET!!! If You Missed it two Weeks ago, a Reminder: Please Donate by Wolf Richter • Jun 6, 2024 • 10 Comments Your support keeps WOLF STREET open, not hidden behind a paywall, so that it can reach the largest possible audience.
Fed’s Wait-and-See on Rate Cuts Supported by Worst 6-Month “Core” & “Core Services” PCE Inflation since mid-2023 by Wolf Richter • May 31, 2024 • 102 Comments Not just housing, but also other core services. However, durable goods inflation is back to normal.
Status of Banks’ Unrealized Losses in Q1: Worsened after Brief Rate-Cut-Mania Relief by Wolf Richter • May 29, 2024 • 78 Comments Rate-cut-mania soothed the pain, but it’s over.
Services Inflation for Japanese Businesses Spikes by Most since 1991, Bank of Japan Gets Lots of Rate-Hike Ammo by Wolf Richter • May 28, 2024 • 40 Comments Huge month-to-month jumps for second month in a row as businesses jack up their prices for new fiscal year.
Bank of England to Sell All Remaining Bonds and Use Repos Instead to Manage Liquidity & Financial Stability by Wolf Richter • May 25, 2024 • 117 Comments Back to the future:Â With repos, not QE, is how central banks handled issues before 2008. The Fed also revived tools to go back into that direction.
Dear Readers, Please Donate to WOLF STREET: Spring 2024 Reminder by Wolf Richter • May 19, 2024 • 55 Comments Thanks to your generous support, WOLF STREET has been free and open to all, not hidden behind a paywall.
