But private-sector holdings remained at huge record, with the big seven financial centers leading the charge.

The massive piles of dollars getting thrown at AI infrastructure have an effect.

In 33 charts. A special word about San Francisco where AI mania trickled down from a “mansion shortage” to mid-tier homes.

Bond Vigilantes dissolved long ago into ambient air. But these auction yields make Bessent nervous.

Consumers spent at retailers & restaurants just fine, but Amazon Prime Day and seasonal adjustments wreaked some havoc.

Auto loan balances, average amount financed, loan length, credit score, debt-to-income ratio, and delinquencies from subprime to prime.

Warsh makes another baby step — as suggested at his first FOMC meeting.

In July, the plunge in energy prices migrated into services via truck transportation services and others.

Why we keep an eye on the housing-debt-to-income ratio.

But inflation thrived in housing, electronics (hit by the AI boom), medical services, auto repair, used vehicles, etc.

How Americans are handling their debts.

Mortgage rates at 6.69% are not high. Inflation is high.

Big Tech, after years of incinerating vast amounts of cash with share buybacks, is now raking the cash back in with share sales at sky-high prices.

Vast amounts of cash get moved from Investors to Big Tech via equity and debt sales to be spent in the real economy.

Treasury bills outstanding ballooned by $1 trillion year-over-year, to $7 trillion. But total marketable Treasury securities ballooned by $2.5 trillion. So…

Looking at them in the context of the rest of the labor market.

Crackdown on illegal immigration and boomer retirements continued to reduce the labor force, causing unemployment to drop further.

With its earnings announcement, it had a few tricks up its sleeve.

Alphabet plans to borrow another $20-25 Billion, on top of the $50 billion in bonds and $85 billion in equity it sold earlier in 2026.

Purchases by Chinese, Canadian, and British buyers have collapsed. Foreign buyers matter in some key submarkets.