If you’re curious as to the state of demand for AI hardware, Taiwan’s Ministry of
Category: Duly Noted
Two Things: Breadth And Revisions
Two things: Bad breadth and an anomalous revisions trajectory. Early Monday, I spent some time
Hate-Sold Growth Stocks May Still Be Bargains
Is it time to buy growth stocks? Maybe I should rephrase in light of new
US Homebuilder Depression Enters Second Year
Surprise: Homebuilder sentiment in America remains deeply depressed. An update on the NAHB’s builder mood
The Home Sellers Are Desperate
In the US housing market, sellers are desperate. Amid an enormous imbalance favoring buyer leverage,
Americans Were Back To Shopping On Eve Of Iran War
For whatever it’s worth — technically a lot in a world where the overall price
Real US Housing Wealth Continues To Shrink
US homes are still getting cheaper. In real terms, anyway. To employ my standard joke:
Buy Now Or Forever Hold Your Lease
If you don’t own property in America by now, chances are you can’t afford to.
US New Home Sales Collapse
Don’t look now, but new home sales in the US just posted their largest monthly
War Imperils US Housing As Buying Season Begins
Scott Bessent tried to warn him. Or at least I assume (and hope) Scott Bessent
Fed’s Favorite Core Inflation Measure Hit Multi-Year High Before War
Core inflation in the US ran the fastest in nearly two years to start 2026,
Priced For Chaos When Nothing Ever Happens
Earlier this week, in “Where’s The Iran War Stock Crash?,” I highlighted the disparity between,
US Spending Impulse Loses Momentum
Although a bit of an afterthought on a day when oil shocks and job losses
In US Housing, Sixes Now Outnumber Threes
One of the biggest supply-side impediments to a US housing market thaw is the so-called
Nothing Doing: Lowest Rates Since 2022 Fail To Spur Home Sales
Boy, I’ll tell you what: US housing’s in a bad, bad way. I realize this
Cheap Stocks Are Going Extinct
Where can one find some cheap stocks? Put differently, where are the bargains in the
Down Payment Burden Emerges As Biggest Homebuyer Hurdle
It’s a familiar dynamic: Mortgage rates in the US fell, prompting an uptick in refis
Loan Growth In China Plunges To New Record Low
Someone suggested this week that China will exit deflation in 2026. That’s not a strawman.
The American (Pipe) Dream
Good news for America’s 45 million renter households: Thanks to lower mortgage rates and, secondarily,
US Employment Costs Are Still Falling
Don’t look now, but US labor costs just decelerated again, where “again” means that for
White Collar Job Openings Evaporate In America
The hits just keep comin’. Shortly after a trio of private-sector updates cast a pall
Trick Question: How’s Earnings Season Going So Far?
How’s earnings season going so far in the US? That’s a trick question. Don’t answer
Don’t Look Now, But Wholesale Inflation’s Heating Up In America
Don’t look now (because no one else will on a day when flashier headlines predominated),
As Mag7 Results Begin, This Is The Most Important Question…
As Mag7 results roll in, the most important question for the world’s most important companies
Fed’s Favored Inflation Metric Still Tame (Read The Fine Print)
“Refer to ‘Technical Notes’ for information on how the BEA imputed missing BLS prices.” That
Seller-Buyer Imbalance Goes Vertical As Pending Home Sales Plunge
A mid-week update on the marquee gauge of contract activity across America’s still-beset resale housing
Jobless Claims Don’t Want To Hear Your Recession Narrative
Jobless claims: They’re low in the US. And that’s an understatement. With the caveat that
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