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News
Long-Term Treasury Yields Jump as Bloodied Bond Market Gets Edgier about Inflation & the Massive New Debt
1+ hour, 50+ min ago (907+ words) The 30-year Treasury yield spiked by 10 basis points this week to 5.16%, after briefly reaching 5.19% on Thursday intraday. These were the highest yields, along with May 19, since July 2007. These rate cuts spooked the bond market. The bond market fears inflation, it…...
New Single-Family Home Prices Drop Further amid Declining Sales and once again Growing Inventory Glut
1+ day, 4+ hour ago (794+ words) The median price of new single-family homes sold by homebuilders in June dropped by 2.7% year-over-year and by 3.8% from two years ago, and by 13.5% from the peak in October 2022, to $398,300 (blue in the chart), according to data from the Census Bureau…...
Bond Market Just Flipped to “Rate Hike in July” as 2-Month Treasury Yield Spiked by 13 Basis Points
2+ day, 20+ min ago (544+ words) So would a “surprise rate hike” at the July meeting still be a surprise when the bond market prices it in a week in advance? Buyers of securities that mature in about two months today demanded to be paid for…...
AI May Not Cause Total Jobs Armageddon Afterall: Google Reports on How AI Is Being Used at Work
2+ day, 8+ hour ago (428+ words) Some of the AI company founders and insiders, and AI promoters, were for a while spreading a lot of doom-and-gloom about AI resulting in total-job-destruction Armageddon as nearly all office jobs would soon be done by AI. So initial unemployment…...
Mortgage Rates Rise to 6.77%, Highest in a Year, Driven by Bond Market Fears of Inflation & the Ballooning Debt
3+ day, 5+ hour ago (781+ words) The average 30-year fixed mortgage rate rose to 6.77% today, the highest in a year, and a hair above the highs earlier in July and May, and up by nearly 80 basis points from the February low, per the daily measure by…...
Single-Family & Multifamily Rents in Face of an Onslaught of New Supply & Fading Population Growth
4+ day, 2+ hour ago (884+ words) Those rent increases fired up the construction machinery: From January 2020 through June 2026, multifamily mid-tier asking rents across the US surged by 33%, led by the metropolitan areas of Denver, CO (+69%); Seattle, WA (67%); Salt Lake City, UT (+67%); Los Angeles, CA (+65%); Portland, OR…...
Oh Dear, Condo Prices Fell by 15% to 33% in 30 Bigger Cities Already. Some Dropped Back to 2006 Levels
5+ day, 2+ hour ago (741+ words) Condos have, let’s say, some issues after the breath-taking price explosions from mid-2020 to mid-2022 of 50%, 60%, or even 70% in some cities. In the 10 years to the peak, prices had soared by 180% to 350% in these markets. And these bubbles have started…...
30-Year Treasury Yield still 5.06%, 30-Year TIPS Yield Highest since 2010 Reintroduction, Yield Curve Prepped for Rate Hike
6+ day, 20+ hour ago (584+ words) The yield of 30-year Treasury Inflation Protected Securities (TIPS) rose to 2.91% on Thursday and closed at 2.87% on Friday, the highest since 30-year TIPS were reintroduced in February 2010, up from -0.6% at the end of 2021. The Fed’s lead-footed pandemic QE, which included…...
Home Prices in 33 Big Expensive Cities in America: 25 Fell Year-over-Year in June, 2 Rose to New Highs
1+ week, 1+ day ago (672+ words) Prices of mid-tier homes in June were down from their respective peaks in prior years in 28 of the 33 big and expensive cities we follow here, led by Austin (-27%), Oakland (-25%), New Orleans (-19%), Washington D.C. (-13%), Denver (-13%), Phoenix (-11%), Fort Worth (-10%), and Portland (-10%). All of…...
Fuel for the 2nd Wave of Inflation: Import Prices of Manufactured Goods, Driven by Computers & Electronic Products
1+ week, 1+ day ago (647+ words) The US imports about $3.3 trillion worth of goods a year currently, and so import prices matter to inflation in the US. Import prices had exploded during the first wave of inflation in 2021 through early 2023 amid the supply chain chaos and…...