Housing Starts And Applications Both Down

by Chris These are very noisy data series, so they could easily jump again next month, but the higher mortgage rates and rising house prices are a double whammy for home purchasers, especially first-time buyers. Here’s the data from today: Weekly mortgage applications fall 2.5% as buyers struggle to find affordable homes Home prices are … Read more

Crude Oil May Not Find Support Above $60 This Time

by Chris Vermeulen of The Technical Traders Crude Oil has been a major play for some traders over the past few months.  With price, rotation ranges near $5~$7 and upside pressure driving a price assent from below $45 to nearly $75 peaks.  This upside price move has been tremendous. Over the past few weeks, many things have changed … Read more

Trump Putin Summit Is For Establishing Trust Instead Of McCarthyism And War

by TraderStef of CrushTheStreet 90% of the world’s nuclear power is currently in the hands of the U.S. and Russia. Politicizing its international affairs is very dangerous, and too many government officials in Washington appear to have forgotten that despite any perceived or factual underlying issues, keeping the U.S. safe and avoiding war requires unwavering diplomacy, along with … Read more

Today looks similar to ’15/’16 — to save markets buybacks need to step up or gov’t or central bank intervention.

h/t @StockBoardAsset Mind The Gap (it’s a big one)… Search Phrase “How to Prepare for a Recession” Surges to 10YR High there needs to be an intervention to keep the short cover alive — if that is CB comments, WH comments, ECT… Carefully monitoring Russell 2000 (monthly) R3 Probe Iron Ore Futures! 2s10s 23 handle Yield … Read more

The Fed’s Making A Mistake And It Could Cause A Recession By Next Summer: Natixis Economist

via  @pattidomm The Fed’s next rate hike and its commitment to keep hiking rates could cause the closely watched Treasury yield curve to invert— or flip—with shorter term rates rising above longer term rates. That so-called inversion is a sign of recession, and Natixis economist Joseph LaVorgna believes that the curve could invert after the Fed’s … Read more

Russia Dumped Most/All its US Treasury Holdings, Disappeared from List

Wolf Richter wolfstreet.com, http://www.amazon.com/author/wolfrichter Who stepped up to the plate? It’s a good thing Russia never held as many US Treasury securities as China and Japan. The scenario would have been different. The “grand total” of US Treasury bonds, notes, and bills held by official foreign investors (central banks, governments, etc.) and non-official foreign investors … Read more

Fed Speaks = Another Top?

by SpontaneousDisorder Just thought I’d put this here as an update to a previous post I did. Jerome Powell has testified to congress and the market got excited again. The previous post I made was when the Fed had a meeting and that timed a short term top. The Nasdaq and S&P are bit higher, the … Read more