wolfstreet.com —  18+ hour, 33+ min ago

...The burning question arose over the past two years what these largely empty older office towers in San Francisco are worth.... ...There were no transactions because no one knew what anything was worth as San Francisco"s office market has morphed in just a few years from being... ..., according to sources cited by the San Francisco Business Times.... ...Wells Fargo found a buyer for one of its office towers in San Francisco, the 13-story 355,000-square-foot 1960s-era tower at 550 California, across...

wolfstreet.com —  2+ hour, 43+ min ago

...The Reserve Bank of Australia had become the first major central bank among developed economies to “pause” its rate hikes at the meeting in April... ...Those hopes got crushed when the RBA became the first central bank to un-pause at the May meeting with a 25-basis point hike.... ...The dynamics are practically everywhere the same, including in Australia: While energy prices plunged, and inflation in goods backed off, inflation... ...Central banks are under illusion that some how this inflation scare passes and they can continue maintain large balance sheets to support elevated...

wolfstreet.com —  2+ hour, 43+ min ago

...The Reserve Bank of Australia had become the first major central bank among developed economies to “pause” its rate hikes at the meeting in April... ...Those hopes got crushed when the RBA became the first central bank to un-pause at the May meeting with a 25-basis point hike.... ...The dynamics are practically everywhere the same, including in Australia: While energy prices plunged, and inflation in goods backed off, inflation... ...Central banks are under illusion that some how this inflation scare passes and they can continue maintain large balance sheets to support elevated...

wolfstreet.com —  1+ day ago

...Walmart U.S. ecommerce sales jumped by 27% in Q1 year-over-year; grocery sales jumped by 12%; but sales except groceries at its brick-and-mortar... ...And so overall sales at Walmart U.S. rose by 7%, on booming ecommerce, strong grocery sales, and dropping sales at the other aisles in its stores...

wolfstreet.com —  1+ day ago

...The question that came up after my detailed report on jobs by employer category was this: Why were jobs in the “retail trade” in May, at 15.55 million... ...Turns out, jobs in the “retail trade” are on a structural decline, despite surging retail sales, in part because of the way jobs in the “retail trade... ...Ecommerce sales hit $1.1 trillion in the past four quarters. And employment has boomed.... ...But jobs in ecommerce operations are not jobs in the “retail trade.”...

wolfstreet.com —  2+ day ago

...As we"ll see in a moment, jobs in retail, and Leisure & Hospitality, and State & Local Government (mostly educators) are still below where they"d... ...Altitude with Some Bumps” – lots of questions came up about what types of jobs had been created, whether these jobs were mostly low-paid jobs in the Leisure... ...It had peaked in 1996 at 6.5%: Professional and business services include Professional, Scientific, and Technical Services; Management of Companies... ...Leisure and hospitality – restaurants, lodging, etc. – is marked by often tough working conditions with odd hours and weekend work, at a relatively...

wolfstreet.com —  4+ day ago

...For over a year now, we've been waiting for the labor market to show real signs of slowing down in a significant way, not just monthly ups and downs... ...of Labor Statistics today.... ...months, 850,000 jobs were created, pushing the number of payroll-type jobs to a record 156.1 million, based on surveys of establishments by the Bureau...

wolfstreet.com —  4+ day ago

...Quantitative Tightening (QT) continued on track, and as the remaining bank liquidity support measures continued to unwind, according to the Fed"s... ...10 weeks since peak-bank-crisis.... ...The Swiss National Bank likely used this program to provide dollar-liquidity support for the take-under of Credit Suisse by UBS.... ...Bank Term Funding Program (BTFP): +1.7 billion in the week, to $94 billion....

wolfstreet.com —  5+ day, 52+ min ago

...“Unrealized losses” on securities – mostly Treasury securities and government-guaranteed mortgage-backed securities – held by all FDIC-insured commercial... ...had hit $690 billion, according to FDIC data on bank balance sheets released on Wednesday.... ...The bank collapses since March this year in the US – Silvergate Capital, Silicon Valley Bank, Signature Bank, and First Republic – all involved lightning-fast... ...The FDIC is now selling those securities to investors, and those securities have come off the bank balance sheets....