Commercial real-estate transactions in NYC plunged to the lowest since 2009 in Q2, without much sense of a revival in the second half as no one knows how to value the properties right now.

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Real Estate Prices Fall Sharply in New York: NYT

Since the coronavirus shut the city down, the number of sales in Manhattan dropped 54 percent and the median price fell to $1 million.

 

 

Gundlach: Why the Dollar and the Tech Rally Are ‘Real Risks’ to Investors

The “twin deficits” created by runaway government spending and continued U.S. appetite for foreign purchases have long been seen as a negative for the greenback, the world’s most dominant fiat and reserve currency.

 

A Word About that Historic Bounce in US Services PMIs: No, the Service Sector Didn’t Hit New Highs. It Stopped Plunging

One Purchasing Managers Index said services fell further in June, but more slowly; the other said activity started climbing out of the hole. But both agree: Jobs dropped further.

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