The Four Monster Service Sectors whose Sales Dominate the US Economy by Wolf Richter • Jun 16, 2023 • 166 Comments Their huge sales, dizzying growth rates, and high pay-scales move the needle.
For 7 Months, “Core” CPI Hasn’t Improved at All, Stuck at 2.5x Fed Target. Services CPI Accelerates, Rents Not Playing Along, Used Vehicle CPI Spikes. But Energy Plunged by Wolf Richter • Jun 13, 2023 • 140 Comments Powell has been talking about this. Energy cannot plunge forever.
Long View of Job Growth by Industry. And the “Multiple Jobholders” Question by Wolf Richter • Jun 3, 2023 • 134 Comments To shed some additional light on the jobs report.
Fed’s Balance Sheet Plunged by $348 Billion in the 10 Weeks since Peak Bank Crisis, and by $580 billion since QT Started by Wolf Richter • Jun 1, 2023 • 139 Comments QT on track, bank liquidity measures unwind.
Banks’ Unrealized Losses on Securities Drop for Second Quarter in a Row, -25% from Peak by Wolf Richter • Jun 1, 2023 • 47 Comments From huge to somewhat less huge? Because they’re still six times the magnitude of the prior worst-record in 2018
What Are Manhattan’s Older Office Towers Worth? First Benchmark Prices in the New Era by Wolf Richter • May 30, 2023 • 76 Comments Whoever buys the defaulted loan gets the tower. So far, investors and specialized lenders have been on the hook, not commercial banks.
Despite Getting Whacked by Bank Turmoil, Layoff News, Credit Crunch, High Interest Rates, and Inflation, our Drunken Sailors Spent Even More, Even Adjusted for Inflation by Wolf Richter • May 26, 2023 • 241 Comments Where does the money come from? They now out-earn inflation and dipped into their assets whose prices ballooned over the years.
Fed’s Favored Core PCE Price Index Re-Accelerates, Driven by Services, Motor Vehicles: Inflation Stuck on High, Shifts from Item to Item by Wolf Richter • May 26, 2023 • 132 Comments Not encouraging: core PCE price index refuses to come down, has moved sideways since July last year.
Delinquencies in Subprime Auto-Loan-Backed Securities Have Second-Worst April Ever, Behind only Lockdown April: The Cost of Free Money by Wolf Richter • May 24, 2023 • 61 Comments In the free-money era, subprime auto lenders took huge risks amid seething demand from yield-chasing investors.
THANK YOU for Your Wonderful Support of WOLF STREET!! If You Missed the Fun Last Week, a Reminder: Please Donate by Wolf Richter • May 17, 2023 • 19 Comments Your donations have been crucial in helping Wolf Street thrive as an open no-paywall site that isn’t bogged down in ads.
