News
US Government Sold $766 Billion of Treasuries this Week. Yield Curve Steepened as 30-Year Treasury Yield Rose to 4.87%
2+ hour, 50+ min ago (912+ words) The government sold $766 billion in Treasury securities this week, in 10 auctions, including six Treasury bill auctions and four Treasury note auctions. The T-bill maturities ranged from 6 weeks to 26 weeks this week, totaling $538 billion. Every month, the Treasury Department is now…...
Producer Price Index Jumps on Disconcerting Spike in Services PPI. Food & Energy Prices Fall
1+ day, 10+ hour ago (524+ words) But the services PPI spiked, and services are not tariffed, and they dominate the US economy. The services PPI weighs 68% of the overall PPI. And this big increase is bad news for inflation. The overall PPI Final Demand jumped in…...
Fed Refuses to Cut, Shifts Hawkish in the Statement, with Two Dissenters
3+ day, 10+ hour ago (1877+ words) The FOMC voted today to leave the Fed's five policy rates unchanged, as widely telegraphed, despite enormous pressure by Trump to cut by a lot, after three rate cuts in a row in 2025 of 75 basis points combined, and after cutting…...
US Government Struggles to Keep a Lid on 10-Year Treasury Yield and Mortgage Rates
6+ day, 14+ hour ago (1816+ words) On around midday Friday came the latest step, a "rate check," with which Treasury Secretary Scott Bessent attempted to put a floor under the yen that had plunged against the dollar, and push back down long-term US Treasury yields that…...
Americans’ Incomes from Wages & Salaries, Businesses & Farms, Rentals, Dividends & Interest, and Transfer Receipts
1+ week, 1+ day ago (1031+ words) Americans" personal income " which rose 4.3% year-over-year in November to an annual rate of $26.4 trillion " came from their wages and salaries, from their small businesses and farms, from their rental properties, from dividends and interest income, and from transfer receipts from…...
Inflation-Adjusted Consumer Spending, Incomes, and Government Transfer Receipts
1+ week, 2+ day ago (1330+ words) Not adjusted for inflation, consumer spending jumped by 0.5% in November from October and by 5.4% from a year ago, according to Bureau of Economic Analysis today. Adjusted for inflation, consumer spending (a.k.a. "real" consumer spending)rose by 0.3%for the month, and by…...
US Government Sold $665 Billion of Treasuries this Week, 10-Year Yield Spikes to 4.24%, Highest since Sep 2, despite 3 Rate Cuts
2+ week, 12+ hour ago (856+ words) This week, the government sold $654 billion in Treasury securities spread over 9 auctions, including 10-year Treasury notes and 30-year Treasury bonds. Of these auction sales, $500 billion were Treasury bills with maturities from 4 weeks to 26 weeks, most of them to replace maturing…...
Food Inflation Gets Hot, but Not Every Item: A Look at Beef, Chicken, Coffee, Eggs, Dairy, Fruit & Vegetables, “Other Foods”
2+ week, 2+ day ago (1223+ words) The CPI for "Food at home" " food that people buy at stores, markets, or online and consume off premise " jumped by 0.72% month-to-month (+9.0% annualized), the biggest jump since August 2022, after a slight decline in the prior month, according to the CPI…...
Bad-Joke Housing CPIs, Absurd Health Insurance CPI Still Marr Today’s CPI Report, Repress Year-over-Year CPI Inflation
2+ week, 4+ day ago (979+ words) The issue first cropped up for September, when the month-to-month increase of OER did a suspicious outlier-plunge. Then with no data for October due to the government shutdown and apparently no data for November either, the September outlier was carried…...
Household Money-Market Funds & Large CDs Hit Records despite Lower Yields. But Sorry, It’s Not “Cash on the Sidelines”
2+ week, 4+ day ago (1259+ words) Households and even institutional investors continued piling into money market funds (MMFs), and their balances ballooned to new records, despite the Fed's rate cuts since September 2024, and therefore lower yields on MMFs. Balances in MMFs held by households jumped by…...