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Every morning
Weekly
Tuesday recap
2-Year, 3-Year Treasury Yields Spike, Flip to Rate Hike. Yield Curve Uninverts. Government Sold $606 Billion of Treasury Securities this Week as the Borrowing Must Go On. Whiff of turmoil in the bond market as inflation fears moved to the front and center https://t.co/NFmQR96ZdR https://t.co/bKsvYUmn7n
Money-Market Funds & CDs: Americans’ Ballooning Piles of Interest-Earning Low-Risk Investments. They’re investment choices, like bond funds, bonds, etc., not that illusory “cash on the sidelines” https://t.co/lVQU0uXsDh https://t.co/eIxrOAhyxN
Prices of New Single-Family Homes Drop Further, Inventory of Completed New Homes for Sale Highest since 2009. Hoping for lower mortgage rates that may not come https://t.co/xfMYbwdtVK https://t.co/ImauhfwDWA
Bond Market Gets Edgy as US Treasury Debt Hits $39 Trillion, Spiking by $2 Trillion in 7.5 Months and Not Slowing Down. But debt doesn’t exist in a vacuum: The Debt-to-GDP and Deficit-to-GDP ratios provide (ugly) context https://t.co/0XZ6rkEoI5 https://t.co/ZYPLRQgVkY
Fed Holds Rates, now with Only 1 Dissenter, Sees Accelerating Inflation & GDP Growth. Dot Plot projections still point at 1 rate cut in 2026. Powell: “If we don’t see that progress [on inflation], then you won’t see that rate cut.” https://t.co/d1jJR0aFr2
Hot Producer Price Inflation Adds to Fed’s Complex and Worsening Inflation Problem. Worst 6-month PPI inflation since August 2022 (+5.3% annualized). After multiple rate cuts by the Fed, inflation heats up everywhere: services, food, energy, other goods https://t.co/bCQedto2Yy https://t.co/l9dugS4fI2
The Most Splendid Housing Bubbles in America: Price Drops & Gains in 33 Big Expensive Cities, February 2026. Each city has its own housing market. In some, home prices have dropped a lot; in others, prices have hit new highs https://t.co/ILCCiyvcIJ https://t.co/AfImn5LKKw
Pending Home Sales Ticked Up from Record Low. But Now Mortgage Rates Spiked Back over 6.3%. Home sales in February, as feeble as they were, benefitted from the lowest mortgage rates in years. Those rates are now gone https://t.co/2mll3eAbGK https://t.co/lVfYXLQXRz
Treasury Yields Jump, 10-Year to 4.28%, 30-Year to 4.90%, Mortgage Rates Spike to 6.41%, on Inflation & Deficit Fears. US Government sold $651 billion of Treasury securities this week into these rising yields https://t.co/PBjZjAGHme https://t.co/VXWtZ8bNKw
What it Takes to Sell Homes in this Market: Lennar Cuts Average Selling Price to 2017 Level Lower margins, lower revenues per sq.ft., lower construction costs. “We're adapting to market conditions as they are not not waiting for the market to...
BEA also released its revised GDP data for Q4, including the Price Index Gross Domestic Purchases, broadest inflation index for domestic inflation, which excludes import prices. It was revised up today to 3.8% for Q4, worst since Q4 2022 https://t.co/ATVMhOch9V...
Core PCE Inflation Hits 3.1%, Worst in 2 Years, in Unique Twist Blows way past CPI Inflation. Driven by Core Services. Energy spike is still to come. The Fed needs to pay attention https://t.co/ATVMhOch9V https://t.co/fBae4ie2QQ
Energy Inflation for Americans. Dropping gasoline prices since mid-2022 papered over big price increases in electricity and natural gas. But that’s now over https://t.co/KjuZv4jN7V https://t.co/8HsWsulfsD
Food Inflation in America. Not good. Looking at major categories of foods. Some continued to spike (beef, coffee), others continued to plunge (eggs), others changed less. Overall food inflation accelerated on top of already very high prices https://t.co/taRrQJWe4I https://t.co/IdfYxkT1G2
CPI Inflation Rose on Food & Energy Prices, even before Gasoline Price Spike. YoY still Pushed Down by Bad-Joke OER. The Bad-Joke of Owners Equivalent of Rent (OER) explained https://t.co/Drnu0dnRE2 https://t.co/nyv8tW3qx5
