Monthly Archives: August 2025 | wolfstreet.com
Oakland, Austin, San Francisco, Denver, Tampa, Seattle, New York City, Saint Petersburg, Fort Myers, Sarasota, Boise, Jacksonville, Detroit, New Orleans, Portland, Arlington, Naples, Mesa, Aurora, Reno, Scottsdale.| Wolf Street
Clothing & general merchandise online retailers are the biggie.| Wolf Street
Our Drunken Sailors and their Credit Cards.| Wolf Street
Home prices fell YoY in 20 of our 33 metros: Tampa, Austin, Miami, San Diego, San Jose, San Francisco, San Antonio, Dallas, Phoenix, Orlando, Atlanta, Denver, Raleigh, Houston, Seattle… Some still up YoY: Boston, Chicago, New York, Philadelphia…| Wolf Street
Drunken Sailors going about their lives, spending money, moving the economy forward.| Wolf Street
Food prices also spiked. Energy prices surged due to diesel, jet fuel, and industrial electric power. Ugly all around.| Wolf Street
Each market dances to a different drummer. But in some metros, the drummer hasn’t gotten out of bed yet.| Wolf Street
The shocker for the 2nd month was the re-acceleration of inflation in core services, the biggie, accounting for 60% of overall CPI.| Wolf Street
Subprime is, as always, in trouble, which is why it’s subprime – high-risk-high-profit auto sales & lending that can entail steep losses.| Wolf Street
Turns out, younger people live their lives, and have always done so.| Wolf Street
The epic red-hot turnover in the labor market in 2021 and 2022 that had reshuffled the entire work force is over.| Wolf Street
US Treasury debt surged by $441 billion since the debt ceiling, to $36.7 trillion. Foreign demand for this stuff is an increasingly important issue.| Wolf Street
Waiting for lower prices, higher incomes, and lower rates.| Wolf Street
The 6-month PCE price index accelerated to 2.8% annualized, despite dropping energy prices. It’s been 2.7% to 3.3% in 2025, sharply higher than in the 2nd half of 2024.| Wolf Street
In some industries, profits surged. In others, profits sagged. By major industry.| Wolf Street
Tag Archive for Tariffs | wolfstreet.com
It says: “Not yet,” and “Quite a ways to go.” This trend has reversed before, but if it doesn’t and instead picks up momentum… Time to keep an eye on it.| Wolf Street
Germany, France, Italy, Spain, Netherlands, Poland, Belgium, Sweden, Ireland, Austria, Norway, Denmark, Romania, Czech Republic, Finland, Portugal| Wolf Street
Tag Archive for brick-and-mortar-meltdown | wolfstreet.com
Prices rose from the collapsed levels in the prior year and are back where they’d been in 1996, down by 70% from the peak in 2005.| Wolf Street
Monthly Archives: July 2025 | wolfstreet.com
The new and improved Standing Repo Facility (SRF) sprang into action for one day at quarter-end on June 30.| Wolf Street
The job creation machine is running at a decent pace, unemployment is historically low, but it’s not evenly spread across all industries.| Wolf Street
Businesses have been paying them out of their huge profits and have not been able to pass them on to consumers so far.| Wolf Street
Companies don’t just suddenly drop everything to stew in their own juices.| Wolf Street
Office CMBS Delinquency Rate Spikes to Record 11.1% in June, Worse than Financial Crisis Meltdown Peak, after 3-Month Relapse | wolfstreet.com
Tag Archive for SVB Financial/Silicon Valley Bank | wolfstreet.com
Monthly Archives: January 2024 | wolfstreet.com
Last remaining bailout tool from the March bank panic goes away. Current arbitrage may have been a factor in shutting down this baby.| Wolf Street
Hopes that Return to Office will bail out the office sector of CRE seem premature: Data on office attendance and Working from Home.| Wolf Street
Over the past 25 years, the yield curve predicted 4 business-cycle recessions, two of which didn’t come. So we handle it with care.| Wolf Street
But buybacks occur at huge losses for investors. Today it bought back a 1.25% 20-year bond for 66 cents on the dollar.| Wolf Street
And the order backlog has started rising again.| Wolf Street
For the Treasury market, Powell’s speech was a nothingburger. A Sep rate cut has been priced in since the Aug 2 jobs report.| Wolf Street
The series, started in 2017 to document visually the surging home prices amid the Fed’s interest rate repression, will now get bigger and better.| Wolf Street
Dear Readers, many of you have donated to support WOLF STREET. Thank you so much. This site depends on you.| Wolf Street
Wolf Richter| wolfstreet.com
Total debt rose over the years as a larger population financed more costly collateral. But income rose too.| Wolf Street
Subprime is the mother lode of profits – until it isn’t. | Wolf Street
Monthly Archives: August 2024 | wolfstreet.com
Delinquency rates unchanged, more buyers paid cash to dodge interest rates, prime is pristine, subprime (14% of originations) is (always) in trouble.| Wolf Street
Monthly Archives: July 2024 | wolfstreet.com
Quantitative Tightening so far has removed 41% of Treasury securities and 29% of MBS that pandemic QE had added.| Wolf Street
Monthly Archives: April 2024 | wolfstreet.com
Monthly Archives: June 2024 | wolfstreet.com
QT-1 blew up the repo market. This time around, the Fed wants to avoid that type of debacle so it wouldn’t have to “prematurely” end QT-2.| Wolf Street