NewZinoo: Wolf Street latest news

eco - Wolf Street - 1 day ago

Six Years into Bond Bear Market, 30-Year Treasury Yield Hits 5.28%, Yield Curve Steepens, but Spreads Are still too Narrow

Warsh wants the bond market to do its job and look at inflation and the economy -- and not at the Fed -- and it’s finally doing it.

eco - Wolf Street - 2 days ago

SPR Gets Drained to Dump Crude Oil on Global Markets: US Exports of Crude Oil and Petroleum Products Spike

Crude oil exports hit a record of 5.7 MMb/d in May, exports of ultra-low sulfur diesel hit a record 1.54 MMb/d, etc.

eco - Wolf Street - 3 days ago

Inflation in the Overall Economy, Hitting Consumers, Businesses, and Governments, Was Really Bad in Q2, even without Energy

The Fed needs to coalesce and crack down on inflation lest the bond market figures out what’s going on in here… Oops.

eco - Wolf Street - 3 days ago

Red-Hot Inflation and (Inflation-Adjusted) Strong Domestic Private-Sector Demand Marks Q2 GDP. Debt-to-GDP Ratio Dips to 121.5%

But soaring imports (data-center components), a drop in federal government spending, and changes in private inventories ate into GDP growth.

eco - Wolf Street - 4 days ago

Stocks Tank, Long-Term Treasury Yields Jump after Warsh Starts Talking

“While at some level, we haven't done much in 42 days, the markets have done quite a bit”: Warsh.

eco - Wolf Street - 4 days ago

Fed Holds Rates after “Good Family Fight” and 3 Dissenters, after Enormous Uncertainty in the Markets

Markets were left to their own devices for the first time in a generation after Warsh scuttled forward guidance as part of his Regime Change.

eco - Wolf Street - 4 days ago

Fed Holds Rates after “Good Family Fight” with 3 Dissenters, after Enormous Uncertainty in the Markets

Markets were left to their own devices for the first time in a generation after Warsh scuttled forward guidance as part of his Regime Change.

eco - Wolf Street - 5 days ago

Growth of the Vacant Housing Stock in the US

The US added 1.51 million housing units (new construction minus demolitions) in 12 months, homes for 3.5 million people. The population grew by 757,000. And vacant housing units continued to surge.

eco - Wolf Street - 6 days ago

Korean KOSPI Crashes 10.8% Today, -34% in 25 Days, after 300% Spike, as Consensual Hallucination Fades

Amid general chipmaker bloodbath, SK Hynix and Samsung, which make up half of the index, crashed even more.

eco - Wolf Street - 6 days ago

How Massive AI Data Center Investment Pushes the Economy and Prices: See Durable Goods Orders

Orders for computer and electronic products; electrical equipment and components; machinery incl. power generation equipment; fabricated metals products; and core capital goods – all surged.

eco - Wolf Street - 8 days ago

Long-Term Treasury Yields Jump as Bloodied Bond Market Gets Edgier about Inflation and the Massive New Debt

During the last debt scare, the 10-year yield hit 5%, and the floodgates of demand opened. Now the debt is $6 trillion bigger; no guarantee 5% will open the floodgates again.

eco - Wolf Street - 9 days ago

New Single-Family Home Prices Drop Further amid Declining Sales and once again Growing Inventory Glut

In the South, inventory for sale was up 71% from 2019, while sales were down 8%. Homebuilders are very motivated to make deals.

eco - Wolf Street - 10 days ago

Bond Market Just Flipped to “Rate Hike in July” as 2-Month Treasury Yield Spiked by 13 Basis Points

Warsh scuttled forward guidance, markets are on their own. However this comes out, it promises to be a rougher ride, but in a fresh breeze.

eco - Wolf Street - 10 days ago

AI May Not Cause Total Jobs Armageddon Afterall: Google Reports on How AI Is Being Used at Work

AI is used in 68% of occupations representing 88% of US employment, from software developers to farmers, industrial engineers, and foresters. It’s not automating away those jobs but is helping workers do their jobs.

eco - Wolf Street - 11 days ago

Mortgage Rates Rise to 6.77%, Highest in a Year, Driven by Bond Market Fears of Inflation and the Ballooning Debt

Promising another morose summer in the housing market.

eco - Wolf Street - 12 days ago

Single-Family and Multifamily Rents in Face of an Onslaught of New Supply and Fading Population Growth

The gap between single-family rents and multifamily rents has widened massively. A look at 14 big markets.

eco - Wolf Street - 13 days ago

Oh Dear, Condo Prices Fell by 15% to 33% in 30 Bigger Cities Already. Some Dropped Back to 2006 Levels

In another 39 bigger cities, condo prices fell by 8% to 14%. A massive hangover after a historic Condo Bubble.

eco - Wolf Street - 15 days ago

30-Year Treasury Yield still 5.06%, 30-Year TIPS Yield Highest since 2010 Reintroduction, Yield Curve Prepped for Rate Hike

Unabated fears of inflation and worries about the onslaught of new debt keep pushing up long-term yields.

eco - Wolf Street - 16 days ago

Home Prices in 33 Big Expensive Cities in America: 25 Fell Year-over-Year in June, 2 Rose to New Highs

And 28 were down from their peaks in prior years, led by Austin -27% and Oakland -25%.

eco - Wolf Street - 16 days ago

Fuel for the 2nd Wave of Inflation: Import Prices of Manufactured Goods, Driven by Computers and Electronic Products

The first shock was due to the supply-chain chaos in 2021 through 2022. The second shock is now, it's huge, and it's due to the AI investment boom.

eco - Wolf Street - 17 days ago

Americans Splurge Online and at Vehicle Dealers, instead of Buying Homes? YOLO? Retail Sales without Gas Stations Jump for 5th Month

Sales at gas stations were pushed by massive price movements of gasoline; we look at retailer categories separately to sort it out.

eco - Wolf Street - 17 days ago

Pending Home Sales Plunge to Near-Record Low in the Data, Hit Low in the West. Since then, Mortgage Rates Rose Further

Sales sag in all regions, plunge the most in the Midwest, drop to lowest for June in the South. Demand stuck in the deep-freeze.

eco - Wolf Street - 18 days ago

Producer Price Inflation beyond Energy: “Core” PPI Accelerates to 4.7%, Services PPI to 4.6%. Lots of Inflation Going on in Here

The plunge in energy prices pushed down overall PPI inflation, to a still very high 5.5%. It has been zigzagging higher since mid-2023.

eco - Wolf Street - 19 days ago

Largest “Foreign” Holders of US Treasuries, including US Hedge Funds Engaged in the “Basis Trade” and Corporate America

How much of that foreign demand for US Treasuries is actually “foreign?” Less than it seems. Here are some clues.

eco - Wolf Street - 19 days ago

Largest “Foreign” Holders of US Treasuries, incl. US Hedge Funds in the “Basis Trade” and US Companies with Overseas Entities

How much of that foreign demand for US Treasuries is actually “foreign?” Less than it seems. Here are some clues.

eco - Wolf Street - 19 days ago

Gasoline Plunged in June and lots of Month-to-Month CPI Squiggles Happened to Drop Simultaneously, but that Won’t Last

The CPI headline does not provide political backing for a politically unpopular rate hike at the July FOMC meeting. Details – such as outliers reverting in a month or two – don’t matter today.

eco - Wolf Street - 20 days ago

Fed Should Hike “in the Near Term” if CPI and PPI this Week Are “Hot”: Fed’s Waller. So at the July Meeting? Treasury Yields Jump

“Sternly staring at inflation until it melts before our withering gaze is not an option,” he said with a sense of urgency.

eco - Wolf Street - 23 days ago

US Government Sold $743 Billion of Treasury Securities this Week, 30-Year Yield at 5.06% on Inflation, Lax Fed, Supply Fears

Lots of new supply: Treasury debt of notes and bonds outstanding ballooned by $70 billion this week.

eco - Wolf Street - 23 days ago

Gasoline Price Spike Triggered Massive Price Surge of Used EVs as Auto Dealers Bid them up at Auctions

The wholesale price index for used EVs hit $31,156 in June, 61% higher than for used ICE vehicles. Consumers are splurging to buy used EVs.

eco - Wolf Street - 24 days ago

The US, Largest Crude Oil Producer in the World, Produced 42% More than Saudi Arabia and 37% More than Russia in 2025

The strategic and economic importance for the US of US oil and gas production cannot be overemphasized. Canada is #4.

eco - Wolf Street - 24 days ago

Supply of Existing Single-Family Homes Jumps to 10-Year High, Condo Supply to 14-Year High. Sales Slip Deeper into Deep Freeze. Mortgage Rates Rise to 6.49%

Spring selling season was a dud. But mortgage rates are not high; inflation is high.

eco - Wolf Street - 25 days ago

AI Investment Mania Has Begun to Percolate through the Economy, and the Fed Has Begun to Fret about the Effects

AI Dominated the Fed’s Meeting as Driver of “Persistent Inflationary Pressures” and Demand Growth.

eco - Wolf Street - 25 days ago

AI Dominated the Fed’s Meeting as Driver of “Persistent Inflationary Pressures” and Demand Growth

The AI investment mania has begun to percolate through the economy, and the Fed has begun to fret about the effects.

eco - Wolf Street - 25 days ago

QT plus Rate Hikes: ECB Sheds €149 billion of QE Assets in Q2, -52% since mid-2022, Marks Gold Down by €160 Billion

Fed’s anti-QT faction, take a look: ECB shed €3.7 trillion ($4.2 trillion) of its QE assets, nearly double the Fed’s QT, and nothing bad has happened.

eco - Wolf Street - 26 days ago

Consumer “Inflation Expectations” Throw the Fed another Curveball

The Fed watches inflation expectations closely. It wants them to remain “anchored.” But consumer inflation expectations have become unanchored.

eco - Wolf Street - 27 days ago

Home Prices in the Largest Countries of Europe in Q1 2026, from Splendid Housing Bubbles to a Market that’s Back to 2010

Prices for Germany, France, Italy, Spain, Netherlands, Poland, Belgium, Sweden, Ireland, Austria, Norway, Denmark, Romania, Czechia, Finland, Portugal, Slovakia, Hungary, Bulgaria.

eco - Wolf Street - 27 days ago

My Take on the Zero-Sum New-Vehicle Market in the US: Decades of Stagnation and Decline Interrupted by Steep Plunges

But not all automakers are losers in this tough market.

eco - Wolf Street - 29 days ago

Six-Month Treasury Yield Rises to 4%: Bond Market Tells the Fed to Get on with the Rate Hikes

Even banks are raising the yields on their brokered CDs to 4% and over. The coming rate hikes are getting real for investors.

eco - Wolf Street - 30 days ago

Warsh wants the bond market to do its job and look at inflation and the economy -- and not at the Fed -- and it’s finally doing it.

Crude oil exports hit a record of 5.7 MMb/d in May, exports of ultra-low sulfur diesel hit a record 1.54 MMb/d, etc.

The Fed needs to coalesce and crack down on inflation lest the bond market figures out what’s going on in here… Oops.

But soaring imports (data-center components), a drop in federal government spending, and changes in private inventories ate into GDP growth.

“While at some level, we haven't done much in 42 days, the markets have done quite a bit”: Warsh.

Markets were left to their own devices for the first time in a generation after Warsh scuttled forward guidance as part of his Regime Change.

Markets were left to their own devices for the first time in a generation after Warsh scuttled forward guidance as part of his Regime Change.

The US added 1.51 million housing units (new construction minus demolitions) in 12 months, homes for 3.5 million people. The population grew by 757,000. And vacant housing units continued to surge.

Amid general chipmaker bloodbath, SK Hynix and Samsung, which make up half of the index, crashed even more.

Orders for computer and electronic products; electrical equipment and components; machinery incl. power generation equipment; fabricated metals products; and core capital goods – all surged.

During the last debt scare, the 10-year yield hit 5%, and the floodgates of demand opened. Now the debt is $6 trillion bigger; no guarantee 5% will open the floodgates again.

In the South, inventory for sale was up 71% from 2019, while sales were down 8%. Homebuilders are very motivated to make deals.

Warsh scuttled forward guidance, markets are on their own. However this comes out, it promises to be a rougher ride, but in a fresh breeze.

AI is used in 68% of occupations representing 88% of US employment, from software developers to farmers, industrial engineers, and foresters. It’s not automating away those jobs but is helping workers do their jobs.

Promising another morose summer in the housing market.

The gap between single-family rents and multifamily rents has widened massively. A look at 14 big markets.

In another 39 bigger cities, condo prices fell by 8% to 14%. A massive hangover after a historic Condo Bubble.

Unabated fears of inflation and worries about the onslaught of new debt keep pushing up long-term yields.

And 28 were down from their peaks in prior years, led by Austin -27% and Oakland -25%.

The first shock was due to the supply-chain chaos in 2021 through 2022. The second shock is now, it's huge, and it's due to the AI investment boom.

Sales at gas stations were pushed by massive price movements of gasoline; we look at retailer categories separately to sort it out.

Sales sag in all regions, plunge the most in the Midwest, drop to lowest for June in the South. Demand stuck in the deep-freeze.

The plunge in energy prices pushed down overall PPI inflation, to a still very high 5.5%. It has been zigzagging higher since mid-2023.

How much of that foreign demand for US Treasuries is actually “foreign?” Less than it seems. Here are some clues.

How much of that foreign demand for US Treasuries is actually “foreign?” Less than it seems. Here are some clues.

The CPI headline does not provide political backing for a politically unpopular rate hike at the July FOMC meeting. Details – such as outliers reverting in a month or two – don’t matter today.

“Sternly staring at inflation until it melts before our withering gaze is not an option,” he said with a sense of urgency.

Lots of new supply: Treasury debt of notes and bonds outstanding ballooned by $70 billion this week.

The wholesale price index for used EVs hit $31,156 in June, 61% higher than for used ICE vehicles. Consumers are splurging to buy used EVs.

The strategic and economic importance for the US of US oil and gas production cannot be overemphasized. Canada is #4.

Spring selling season was a dud. But mortgage rates are not high; inflation is high.

AI Dominated the Fed’s Meeting as Driver of “Persistent Inflationary Pressures” and Demand Growth.

The AI investment mania has begun to percolate through the economy, and the Fed has begun to fret about the effects.

Fed’s anti-QT faction, take a look: ECB shed €3.7 trillion ($4.2 trillion) of its QE assets, nearly double the Fed’s QT, and nothing bad has happened.

The Fed watches inflation expectations closely. It wants them to remain “anchored.” But consumer inflation expectations have become unanchored.

Prices for Germany, France, Italy, Spain, Netherlands, Poland, Belgium, Sweden, Ireland, Austria, Norway, Denmark, Romania, Czechia, Finland, Portugal, Slovakia, Hungary, Bulgaria.

But not all automakers are losers in this tough market.

Even banks are raising the yields on their brokered CDs to 4% and over. The coming rate hikes are getting real for investors.

Late to the QT game, it’s even selling its equity holdings outright. Nothing on its balance sheet is sacred.