The State Wants To Nationalize Second Mortgages. What Could Possibly Go Wrong?
The State Wants To Nationalize Second Mortgages. What Could Possibly Go Wrong? Authored by Artis Shepherd via The Mises Institute, Recently, Freddie Mac, a government-sponsored enterprise, sought approval from its oversight agency, the Federal Housing Finance Agency (FHFA), to purchase and guarantee second mortgages in the United States. While the business case for this proposal […]
EU Tariffs Of Up To 38.1% On China-Made EVs Are About To Take Hold
EU Tariffs Of Up To 38.1% On China-Made EVs Are About To Take Hold It will only be days now before tariffs of up to 38.1% go into effect on BEVs shipped from China to the EU – the culmination of a monthslong inquiry into how Chinese made EVs have impacted the European auto market. […]
Biden Haemorrhaging Voters In All Demographics: Women’s Support At 20-Year-Low
Biden Haemorrhaging Voters In All Demographics: Women’s Support At 20-Year-Low Authored by Steve Watson via Modernity.news, Analysis By The New York Times reveals that support for Joe Biden among women is at a 20 year low for any Democrat. The polling shows that Donald Trump has an eight-point lead over Biden among women. The turnaround […]
Existing Home Sales Tumble In May… As Prices Set New Record High
Existing Home Sales Tumble In May… As Prices Set New Record High US existing home sales fell for the third straight month in May (-0.7% MoM vs -1.0% exp). This left home sales down 2.8% YoY (YoY sales have not increased since July 2021)… Source: Bloomberg The total home sales SAAR is push back towards […]
Rising Non-Bank Reliance Could Amplify Financial Shocks for Big Banks
Non-bank financial institutions are increasingly posing risks to America’s big banks, as highlighted by economists in a New York Fed blog post. During market stress, non-banks’ demand for liquidity from banks can amplify financial shocks, potentially necessitating mass intervention by authorities. With non-banks operating under less stringent regulations, the interconnectedness between banks and non-banks has […]
Gold Eyes Second Weekly Gain Amid U.S. Rate-Cut Hopes
Gold prices are set for a second consecutive weekly gain, driven by optimism over potential U.S. interest-rate cuts following recent weak economic data. Spot gold rose 0.3% to $2,366.83 per ounce, reaching a two-week high, and has gained over 1% this week. U.S. gold futures increased by 0.5% to $2,380.80. Softer economic indicators, including a […]
US PMIs Surprisingly Surge Despite Plummeting ‘Hard Data’, EU PMIs Slump
US PMIs Surprisingly Surge Despite Plummeting ‘Hard Data’, EU PMIs Slump After this morning’s ugly picture across European PMIs, preliminary June US PMIs were also expected to decline modestly, but remain in expansion (above 50) for both manufacturing and services. But, in the face of puking US hard macro data, the soft survey data surprised […]
Jamie Dimon Warns of U.S. Debt Crisis as Nation Adds $2.1 Trillion in Three Months
America’s escalating public debt has reached $34.7 trillion, and experts like Jamie Dimon and Jerome Powell are alarmed by the rapid increase, with an additional $2.1 trillion added in just three months. The Congressional Budget Office (CBO) reports the deficit will rise from $1.5 trillion this year to $2.6 trillion by 2034, with the debt-to-GDP […]
A Fundamental Shift Higher In Valuations
A Fundamental Shift Higher In Valuations Authored by Lance Roberts via RealInvestmentAdvice.com, Over the last decade, there has been an ongoing fundamental debate about markets and valuations. The bulls have long rationalized that low rates and increased liquidity justify overpaying for the underlying fundamentals. For the last decade, that view appears correct as zero interest […]
After Internal Revolt, Robert Winnett Will Not Join WaPo As Editor
After Internal Revolt, Robert Winnett Will Not Join WaPo As Editor On Sunday, an internal revolt over incoming Washington Post editor Robert Winnett spilled over into the public – as the paper published a scathing article about his shady past in the UK – including stories that were published based on stolen records. Robert Winnett […]