Tuesday , November 19 2019
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Tag Archives: everything bubble

THE WOLF STREET REPORT: IPOs Crash & Burn, Debris Hits Housing, Office Markets

Signs are now all over Silicon Valley and San Francisco (14 minutes). Enjoy reading WOLF STREET and want to support it? Using ad blockers – I totally get why – but want to support the site? You can donate “beer money.” I appreciate it immensely. Click on the beer mug to find out how: Would you like to be notified via email when WOLF STREET publishes a new article? Sign up here.

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Asset Class of Vintage Cars Drops into Bear Market, Down by More than in 2008/2009

“Expert sentiment is at its lowest point since October 2010, largely due to market observers’ reactions to the Monterey auctions.” The asset class of beautiful machines, which had already been struggling mightily, got whacked by the events in Monterey, California, last month. “Whether it’s threat of recession, broad economic volatility or too many cars crammed into too few hours, there’s no denying this year’s Monterey Auction Week results were depressed when you compare the results to...

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Fed Admits Failure of ‘Plan A’ to Control Money Market Rates, Shifts Back to Repos (which was ‘Plan A’ till 2008)

The hullabaloo in the repo market torpedoed the function of Interest on Excess Reserves and forced the Fed to go back to the future. With its announcement this morning, the New York Fed confirmed that the Fed’s Plan A of manipulating the federal funds rate into its target range – now between 1.75% and 2.0% — has miserably failed, and that it will switch to Plan B to control short-term interest rates. But this Plan B was Plan A that the Fed had used routinely to control short-term...

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Unstoppable Negative Yields Suddenly Become Stoppable

Snapback Bloodletting in the Overripe Bond Market. This is the transcript from my podcast last Sunday, THE WOLF STREET REPORT: OK, so we’ve got ourselves one heck of a snapback in government bond yields, not just in the United States, but globally. And the negative-yield mongers that were out there for months, preaching their book and prophesying near-zero or negative yields even for the 10-year US Treasury – this includes hedge funds with algo trading strategies – they’re suddenly...

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Fed’s Powell: No Negative Interest Rates at Next Crisis

The Fed has different priorities than the ECB, the Bank of Japan, the Swiss National Bank, et al. During the press conference today following the FOMC meeting, Fed chair Jerome Powell was asked if and when the Fed would push its policy interest rate into the negative. Powell did not respond with his usual, “we will act as appropriate.” He had a real answer. For months, there has been clamoring from Wall Street and speculators, and from the White House, that the Fed should or would cut...

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Markets That Live by the Fed, Die by the Fed

All eyes are again on the Federal Reserve, as everyone understands that the Fed is the market— the stock market, the bond market, the art market, the housing market, etc. All markets have been driven higher by one force: central bank money creation and distribution to the financial sector of financiers and corporations, the richest of the rich. What few seem to grasp (because they’re paid not to?) is the Fed is powerless over what actually matters in a healthy economy:...

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THE WOLF STREET REPORT: Snapback Bloodletting in the Overripe Bond Market

The 10-year US Treasury yield rips. Unstoppable negative yields become stoppable (11 minutes). Enjoy reading WOLF STREET and want to support it? Using ad blockers – I totally get why – but want to support the site? You can donate “beer money.” I appreciate it immensely. Click on the beer mug to find out how: Would you like to be notified via email when WOLF STREET publishes a new article? Sign up here.

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WeWork IPO, the Straw that Breaks the Stock Market’s Back? Valuation Plunged by up to 79%

“They’re Going to Screw Up the Market”: Jim Cramer, on the moment-of-truth effects of the WeWork IPO. Much like the Fed, as some would say, Jim Cramer has a dual mandate: to entertain and to pump up the markets. He is certainly excellent as an entertainer. But this morning on CNBC’s “Squawk Box,” he let bleed through just how concerned he is about the stock market that is teetering at the top to such an extent that a single, messy, overhyped company going public will “screw up” the...

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What to Do About the Student-Loan Fiasco: Is “Debt Forgiveness” Really the Answer?

The University-Corporate-Financial Complex is going to squeal. This is the transcript from my podcast last Sunday, THE WOLF STREET REPORT: OK, I’m going to wade into this debate. And I’m going to do it with my boots on. The student loan fiasco – the pile of debt that has ballooned to $1.6 trillion – and what to do about it – particularly how much of that student debt to forgive at the expense of taxpayers – has now entered the list of presidential campaign promises. These promises of...

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THE WOLF STREET REPORT: What to Do About the Student-Loan Fiasco?

The University-Corporate-Financial Complex is going to squeal. OK, I’m going to wade into this debate. And I’m going to do it with my boots on (11 minutes). Enjoy reading WOLF STREET and want to support it? Using ad blockers – I totally get why – but want to support the site? You can donate “beer money.” I appreciate it immensely. Click on the beer mug to find out how: Would you like to be notified via email when WOLF STREET publishes a new article? Sign up here....

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