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Archegos Implosion is a Sign of Massive Stock Market Leverage that Stays Hidden until it Blows Up and Hits the Banks
Archegos Implosion is a Sign of Massive Stock Market Leverage that Stays Hidden until it Blows Up and Hits the Banks Banks, as prime brokers and counterparties to the hedge fund, are eating multi-billion-dollar losses as they try to get out of these secretive stock derivative positions. The implosion of an undisclosed hedge fund, now […]
What’s Behind the Stunning Spike in Used Vehicle Auction Prices? That Consumers Aren’t on Buyers Strike Shows Something Big about Inflation Has Changed
What’s Behind the Stunning Spike in Used Vehicle Auction Prices? That Consumers Aren’t on Buyers Strike Shows Something Big about Inflation Has Changed Need a used pickup truck? Forget it, or pay out of your nose for it. But even spurned mid-sized cars are seeing stunning price increases. Prices of used cars and trucks of […]
Blocked Suez Canal Adding to Container Shortages, Supply Chain Snarls, Component Shortages for Manufacturers
Blocked Suez Canal Adding to Container Shortages, Supply Chain Snarls, Component Shortages for Manufacturers Exactly at the worst possible time. Ripple effects to be felt for months. Today is Thursday, and the Suez Canal is still blocked by one of the largest container carriers in the world. The last thing the tangled up and […]
Bank of Canada Announces Balance Sheet Reduction, Suddenly Worried about “Moral Hazard”
Bank of Canada Announces Balance Sheet Reduction, Suddenly Worried about “Moral Hazard” “Once crisis tools have served their purpose, central banks should scale them back.” The Bank of Canada will unwind its crisis liquidity facilities, will further reduce its purchases of Government of Canada bonds, which it already started tapering in October, will let short-term […]
First Signs that Surging Mortgage Rates Are Dialling Down the Heat under the Housing Market
First Signs that Surging Mortgage Rates Are Dialling Down the Heat under the Housing Market The Fed smiles upon rising long-term Treasury yields as sign of economic growth and rising inflation expectations. Long-term US Treasury yields have continued to march higher despite the Fed’s purchases of about $120 billion a month in Treasury securities and […]
Stock Market Leverage Spikes in Historic Manner: Another WTF Chart of a Zoo that Has Gone Nuts
Stock Market Leverage Spikes in Historic Manner: Another WTF Chart of a Zoo that Has Gone Nuts In an investment environment where nothing matters anymore – until it suddenly does. In the current craze that encompasses everything from sneakers and NFTs to stocks, where valuations don’t matter because of widespread certainty that valuations will be even […]
THE WOLF STREET REPORT: Market Manias Galore, But Long-Term Interest Rates Smell a Rat
THE WOLF STREET REPORT: Market Manias Galore, But Long-Term Interest Rates Smell a Rat These manias and the rising long-term yields are on collision course. (You can also download THE WOLF STREET REPORT wherever you get your podcasts). wolfstreet, wolf street report, wolf richter, long-term interest rates, interest rates, financial markets
New Normal: High Unemployment, Near-Zero Interest Rates and Out of Control Inflation
New Normal: High Unemployment, Near-Zero Interest Rates and Out of Control Inflation Since the pandemic began a year ago, the term “new normal” has become part of the American lexicon. Not “new” as in better or improved. But rather “new” as in contrast to the way things used to be. Much of the mainstream discussion argues that […]
House Price Inflation in CPI is of Course Complete Baloney, but it Accounts for 1/4 of Total CPI
House Price Inflation in CPI is of Course Complete Baloney, but it Accounts for 1/4 of Total CPI With actual house price inflation based on market data, overall CPI would have jumped by 3.7%. Lifting the cover on the deception to keep CPI low. For most Americans, housing costs are the largest item in their […]
Electricity Sales to End Users Dropped Below 2008 Level: What it Says about the Pandemic Economy, Households, Commercial & Industrial Activity, and Public Transportation
Electricity Sales to End Users Dropped Below 2008 Level: What it Says about the Pandemic Economy, Households, Commercial & Industrial Activity, and Public Transportation In 2020, by source, coal collapsed to record low, natural gas dominated, wind and solar surged, while hydro and nuclear remained roughly flat. Electricity sales to all end users in the […]
What Happens to the Markets If Long-Term Interest Rates Double from Here? Did Low Interest Rates Boost Auto Sales? Do These Covid Markets Make Any Sense?
What Happens to the Markets If Long-Term Interest Rates Double from Here? Did Low Interest Rates Boost Auto Sales? Do These Covid Markets Make Any Sense? Wolf Richter on This Week in Money, by HoweStreet.com:
Shipping Costs, Trucking Rates Soar Despite Demand Below Prior Years. Now Add Diesel Price Surge to the Mix
Shipping Costs, Trucking Rates Soar Despite Demand Below Prior Years. Now Add Diesel Price Surge to the Mix One more manifestation of the inflation pressures working through various levels of the economy despite suboptimal demand. January, in terms of freight volume, is usually a slow month of the year, after the shipping season before the […]
Who Bought the $4.5 Trillion Added in One Year to the Incredibly Spiking US National Debt, Now at $27.9 Trillion?
Who Bought the $4.5 Trillion Added in One Year to the Incredibly Spiking US National Debt, Now at $27.9 Trillion? Someone had to buy every dollar of this monstrous debt. Here’s Who. The Fed isn’t the only one. But China continues to unwind its holdings. Driven by stimulus and bailouts, and fired up by the […]
Demand for Gasoline, Jet Fuel, and Diesel: Checking on the Recovery
Demand for Gasoline, Jet Fuel, and Diesel: Checking on the Recovery Watching for the EV drag on gasoline demand requires a lot of patience. Gasoline consumption in the US during the four-week period through February 5 was down by 10.1% from a year ago to 7.89 million barrels per day (mb/d), according to EIA data. […]
The Foundation for Potential Price Hyperinflation is Being Laid
The Foundation for Potential Price Hyperinflation is Being Laid The Federal Reserve sure seems to have a tough time finding and reporting signs of rising inflation — especially when it’s hidden in other sectors like a lack of demand for energy. A recent example of the Fed’s “inflation blindness” comes from a speech Chairman Jerome Powell gave […]
