Author: Wolf Richter

Fed Assets Eke Out New High for First Time Since June 10. Repos, Dollar Liquidity Swaps, SPVs Mothballed

Fed Assets Eke Out New High for First Time Since June 10. Repos, Dollar Liquidity Swaps, SPVs Mothballed Only Treasury securities and mortgage-backed securities (MBS) are still active. By Wolf Richter for WOLF STREET. The Fed has now reduced to zero or to...

Synchrony Financial Disclosed Radical Work-from-Home Plan, Layoffs, and “Office Footprint” Reduction

Synchrony Financial Disclosed Radical Work-from-Home Plan, Layoffs, and “Office Footprint” Reduction Landlords and their lenders who’re still thinking work-from-home is just a blip will undergo a reckoning in due time. By Wolf Richter for WOLF STREET. Synchrony Financial, GE’s consumer financial services spinoff...

Stimulus & Debt-Deferral Economy: Americans Splurged. Huge Price Increases Boosted Auto Sales. Liquidation Sales Pumped up Department Stores

Stimulus & Debt-Deferral Economy: Americans Splurged. Huge Price Increases Boosted Auto Sales. Liquidation Sales Pumped up Department Stores Depicted by my 13 whiplash-charts. By Wolf Richter for WOLF STREET. Total retail sales – sales of goods in stores and online, but not including...

Two San Francisco Hiltons Add to Woes of Commercial Mortgage-Backed Securities. Special Servicing Rate of Hotel CMBS Spiked to 26%

Two San Francisco Hiltons Add to Woes of Commercial Mortgage-Backed Securities. Special Servicing Rate of Hotel CMBS Spiked to 26% Four of the six hotels that hotel-REIT Park Hotels & Resorts owns in San Francisco are still closed as convention...

Astounding Distortions & Historic Price Spikes in Used Vehicle Market Begin to Unwind

Astounding Distortions & Historic Price Spikes in Used Vehicle Market Begin to Unwind This stimulus economy is producing the weirdest effects. By Wolf Richter for WOLF STREET. This has been an amazing sight: The used vehicle auction market’s descent into the deep-freeze during...

Now Everything Depends on US Stimulus, from Billionaires to China’s Manufacturers, as US National Debt Blows Out

Now Everything Depends on US Stimulus, from Billionaires to China’s Manufacturers, as US National Debt Blows Out But consumers again paid down their credit cards; let’s be honest, that’s abuse of stimulus. By Wolf Richter for WOLF STREET. Who would have thought a...

Twisted Bailout Economy: Chapter 11 Bankruptcies Surged, But Commercial Chapter 13 Bankruptcies Plunged. 420,000 Small Businesses Closed Quietly, Highest Rate Ever

Twisted Bailout Economy: Chapter 11 Bankruptcies Surged, But Commercial Chapter 13 Bankruptcies Plunged. 420,000 Small Businesses Closed Quietly, Highest Rate Ever Stimulus and bailouts had a huge impact, for those that got them, and for those that didn’t. By Wolf Richter for WOLF...