Author: Wolf Richter

US Treasury Posts Gigantic $1.16 Trillion Shortfall in Fiscal 2017, Hilariously Points out “Where We Are Headed”

US Treasury Posts Gigantic $1.16 Trillion Shortfall in Fiscal 2017, Hilariously Points out “Where We Are Headed” by Wolf Richter – Wolf Street Just add tax cuts and ballooning expenditures. The media chose to silence the report to death.  ...

“Financial Stress” Spikes. Markets, Long in Denial, Suddenly Grapple with New Era

“Financial Stress” Spikes. Markets, Long in Denial, Suddenly Grapple with New Era by Wolf Richter – Wolf Street Fed’s monetary policy shift is finally taking hold. It just took a while. The weekly St. Louis Fed Financial Stress index, released...

Retail Sales, Inflation Add Fuel to Fed’s Rate-Hike Trajectory, Treasuries Dive as Yields Surge

Retail Sales, Inflation Add Fuel to Fed’s Rate-Hike Trajectory, Treasuries Dive as Yields Surge by Wolf Richter – Wolf Street But something funny happened on the way to the headlines. In describing the retail-sales data released today, words like “slumps”...

What Crushed Stocks?

What Crushed Stocks? by Wolf Richter – Wolf Street Treasury yields don’t matter – until they do. Mortgage rates jump. On Friday at around 1:40 p.m., during whiplash-inducing market moves, the S&P 500 index was down 1.9%, bringing the total...

Bailed-Out RBS Systemically Forged Customer Signatures: Whistle-Blowers

Bailed-Out RBS Systemically Forged Customer Signatures: Whistle-Blowers from Wolf Street Small-business customers suffered most at the bank’s hands. By Don Quijones, Spain, UK, & Mexico, editor at WOLF STREET. The Royal Bank of Scotland, the UK mega-lender that has already cost British...

Corporate Bond Market in Worst Denial since 2007

Corporate Bond Market in Worst Denial since 2007 by Wolf Richter – Wolf Street It’s just a question of how disruptive the adjustment will be, whether it will be just a painful sell-off or junk-bond mayhem. Treasury securities have been...

Fed’s QE Unwind Accelerates Sharply

Fed’s QE Unwind Accelerates Sharply by Wolf Richter from Wolf Street With a sense of urgency. No more dilly-dallying around. The Fed’s balance sheet for the week ending January 31, released this afternoon, completes the fourth month of QE-unwind. And...