Companies See “Sticky” Inflation in July in Services, as they Pass on Surging Input Costs, Including Higher Wages by Wolf Richter • Jul 24, 2023 • 124 Comments Inflation in goods has abated, but it remains hot in services: US companies.
US Dollar’s Status as Global Reserve Currency on Slow Long-Term Decline, but Not Going Down in a Straight Line by Wolf Richter • Jul 15, 2023 • 222 Comments An important thing to keep our eyes on these days.
The Fed’s Liabilities: QT Pushed Down Reserves & RRPs by $865 Billion. TGA Gets Refilled. Currency in Circulation Hits Record by Wolf Richter • Jul 14, 2023 • 179 Comments The flow of cash under QT and government deficits.
Third Wave of Hotel CRE Defaults Has Started, Triggered by CMBS Maturities and Variable-Rate Mortgages by Wolf Richter • Jul 11, 2023 • 121 Comments CMBS holders are on the hook, not banks. Investors in hotel REITs have gotten totally crushed.
End of Easy Money: Financial Conditions Loosen Again for Junk-Rated Companies. But Some that Long Teetered Finally Go Over the Bankruptcy Cliff by Wolf Richter • Jul 10, 2023 • 119 Comments Tightening is a slow process, and there is still a flood of excess liquidity chasing after yield.
The Long View of Job Growth by Industry: Some Gained Jobs; at Others, Jobs Got Crushed by Wolf Richter • Jul 7, 2023 • 70 Comments To shed some additional light on the jobs report.
Fed’s Balance Sheet Drops $667 Billion fr. Peak to $8.3 Trillion, Below Aug 2021, as QT Continues, Bank Panic Support Unwinds by Wolf Richter • Jul 6, 2023 • 145 Comments The Fed has now shed 20.5% of Treasury securities it had bought during pandemic QE.
Americans Still in No Mood for Recession: New Vehicle Sales Jump 17.5% in Q2 YoY as Inventories Normalize after Shortages by Wolf Richter • Jul 6, 2023 • 88 Comments Incentives jump but still below normal. Average Transaction Price and Average Listing Price stuck at ridiculous levels.
US National Debt Spiked by $851 billion in One Month, to $32.3 Trillion. Flood of New Debt Coming in Q3 to Refill the TGA, Pay for Raging Deficits by Wolf Richter • Jul 2, 2023 • 152 Comments While, for the first time, the Fed’s QT and refilling the government’s checking account (TGA) pull liquidity from the markets simultaneously.
Fed’s Favored Inflation Index, “Core PCE,” Stuck near 4.6% for Sixth Month, “Core Services” Stuck Near 38-Year High of 5.4% by Wolf Richter • Jun 30, 2023 • 130 Comments Month-to-month, durable goods prices rose again, on price spike of motor vehicles, after steep drops; services might be cooling a little. Energy plunged.
