Big Rates Shock Looks Imminent…

https://twitter.com/clivemaund/status/996904044307329025?s=11 This chart, which is of a long T-bond proxy. It looks like it is on the point of breaking down from a giant head-&-shoulders top. If it does interest rates will soar…. Too many canaries to ignoreh/t @Nordea pic.twitter.com/4OD1RRPgxW …

READ MORE

Yield Shock! Mortgage Rates Cross 5%

The average contract rate on the 30-year fixed will likely end the day as high as 4.875 percent for the highest creditworthy borrowers and 5 percent for the average borrower. Tuesday’s move follows positive economic data in retail sales, suggesting that …

READ MORE

SHOCK: PEAK S&P500 P/E MULTIPLE?

via the MacroTourist Let’s talk earnings for a bit. Specifically, how the 2017 tax cut affected S&P 500 earnings. We all know the story. America’s corporate tax rate was uncompetitive and created distortions in the economy that prevented companies from investing …

READ MORE