Eco
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The Economist
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6
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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16
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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1
day 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.
eco
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Wolf Street
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2
days ago
Home Sellers, Home Buyers, and Brokers Getting Used to the “New Normal” Old Normal 6-7% Mortgages?
Existing home sales rise from multi-decade rock-bottom, still -34% from 2021, -22% from 2019. Supply highest for November since 2018, days on market highest since 2019.
Eco
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The Economist
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3
days ago
Don’t count on monetary policy to make housing affordable
Unless housebuilding picks up, neither cheap nor dear money will bring relief
Eco
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The Economist
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3
days ago
Why Brazil’s currency is plunging
Fiscal and monetary policy are now pitted against one another
Eco
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The Economist
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3
days ago
The search for the world’s most efficient charities
What the data say about doing good well
Eco
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The Economist
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3
days ago
Conflict is remaking the Middle East’s economic order
Iran is boxed in as Saudi Arabia, the UAE and Turkey look to capitalise
