Revenge of the Variable-Rate Commercial Debts by Wolf Richter • Jun 28, 2023 • 121 Comments Most people in finance today cut their teeth in the era of Easy Money, when history books were thrown out the window. But that era is over.
As Prices of New Houses Drop, Sales Jump: Cut the Price and They Will Come. by Wolf Richter • Jun 27, 2023 • 134 Comments Price cuts & mortgage-rate buydowns pull sales from previously owned homes.
Not a Recession Scenario: Multifamily Construction Starts Spike to Highest since 1986, Single-Family Starts Bounce by Wolf Richter • Jun 20, 2023 • 204 Comments Another sign the economy is flying a cruising altitude and refuses to land, even with short-term interest rates over 5%.
US National Debt Hits $32 Trillion, up $572 billion since Debt Ceiling Suspended. TGA Starts Refilling, Drains Liquidity from Markets by Wolf Richter • Jun 17, 2023 • 269 Comments Debt doesn’t matter. Until it does. And now it does.
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.
