Eco
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The Economist
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11
hours ago
Just how frothy is America’s stockmarket?
We crunch the numbers to assess just how euphoric investors became in 2024
eco
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Wolf Street
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21
hours ago
Treasury Yield Curve Un-Inverts Entirely, as Long-Term Yields Rise while Short-Term Yields Stay Put, No Longer Pricing in Rate Cuts. Mortgage Rates back Above 7%
Since September, the Fed cut by 100 basis points while the 10-year Treasury yield rose by 87 basis points! There are now doubts about further cuts.
eco
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Wolf Street
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1
day ago
After Fed Trims ON RRP Rate by 5 Basis Points on Top of Rate Cut, ON RRPs Plunge to $98 Billion, Lowest since April 2021, -$2.3 Trillion from Peak, on the Way to Zero
QT has only drained ON RRPs so far, but not Reserves, which are still where they’d been when QT started in July 2022. QT has a long way to go.
eco
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Wolf Street
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2
days ago
What Powell Said at the FOMC about Today’s PCE Price Index: “We Still Have Work to Do Though, Is How We’re Looking at it. We Need policy to Remain Restrictive to Get that Work Done”
Inflation is still in services, no progress in 6 months. Another bummer: Durable goods deflation, a contributor to cooling inflation, may be over.
eco
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Wolf Street
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2
days ago
Census Bureau Massively Revises Up Population Growth: +8 Million in 3 Years, +3.3 Million Last Year, Largely due to Immigration. US Population Surges to 340 Million
Total Employment to be substantially revised higher early 2025 when the BLS incorporates these up-revisions into its household survey employment data.
