Panicked Fed Slashes Rates to Near 0%, Throws $700 Billion QE on Top, after $1.5 Trillion Shock-and-Awe Repos Fizzled. Stock Futures Plunge 5%, Hit Limit Down by Wolf Richter • Mar 15, 2020 • 371 Comments Holy moly, what a mess. But here is our hilarious cartoon of Jerome Powell tearing out his hair. Gotta keep you sense of humor.
Stocks Sag as Fed Cures Coronavirus by Cutting Rates ½ Percentage Point by Wolf Richter • Mar 3, 2020 • 226 Comments Disappointed the Fed didn’t print antibodies?
“Wall Street Biggest Banks Shamelessly Try to Use Coronavirus to Get Federal Reserve to Weaken Rules”: Better Markets by Wolf Richter • Mar 2, 2020 • 134 Comments At first, banks leveraged the repo market to force the Fed to ease liquidity & capital rules; now they leverage the coronavirus. Whatever it takes.
China’s Non-Manufacturing & Manufacturing PMIs Show to What Unfathomable Extent the Economy Has Collapsed by Wolf Richter • Mar 1, 2020 • 209 Comments The charts are brutal.
Muddy Waters’ Short-Target NMC Health, a FTSE 100 Company, Admits Doctoring Accounts on Massive Scale. Shares Suspended by Nick Corbishley • Feb 29, 2020 • 72 Comments “Even more damning than our initial report”: Carson Block of Muddy Waters.
Shares of Bedding Unicorn Casper Collapsed by 72% from Magical Pre-IPO Valuation by Wolf Richter • Feb 10, 2020 • 93 Comments Another overvalued money-losing unicorn in a lo-tech ho-hum business wobbled out the IPO window and crashed.
End of QE-4: Fed’s Repos Drop Below Oct 2 Level, T-Bills Balloon, MBS Fall, Total Assets Down to Dec 25 Level by Wolf Richter • Feb 7, 2020 • 112 Comments Repo-blowout solved, the Fed is stepping back as lender-of-first-resort.
Ford Better Figure Out How to Sell Vehicles, And I Mean Globally & Pronto, Before it’s Too Late by Wolf Richter • Feb 6, 2020 • 153 Comments Ever since it got sidetracked by its “Smart Mobility” dream and blew billions on it, sales in its biggest markets have spiraled down. Not just in the US and China. Here are the ugly charts by market.
US Imports from China Plunged Most Ever in 2019, Shifted to Other Countries, and the Goods Trade Deficit Improved Only a Tad from Worst Level Ever by Wolf Richter • Feb 5, 2020 • 94 Comments Corporate America rerouted its supply chain to other countries.
THE WOLF STREET REPORT: What’s Behind the Screwed-Up Student Loan Fiasco? by Wolf Richter • Jan 26, 2020 • 225 Comments Student enrollment has dropped 11% since 2011 while student-loan balances have surged 74%. Why?
