According to the US Census Bureau, US housing construction starts declined 5.6% on a year-over-year (YoY) basis for July. You can see the declining trend since 2012.
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Dick’s Sporting Goods Suffers Terrible Earnings Report, Joins Other Big Box Retailers In Real Estate Hell
by Anthony B Sanders •
Yes, Dick’s Sporting Goods, a big-box retailer for sporting goods, just suffered a big decline in their sales and earnings, a -3.66% downward surprise.
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Homebuilder Confidence Rises To 68 in August As Rental Vacancies Remain Near Mid-1980s Lows
by Anthony B Sanders •
The National Association of Home Builders (NAHB) reported the housing market index (HMI) was at 68 in August, up from 64 in July. Any number above 50 indicates that more builders view sales conditions as good than poor.
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18 European Countries Have Negative 2Y Sovereign Yields As Negative-yielding Bonds Hit $8.6 Trillion
by Anthony B Sanders •
The market value of the world’s negative-yielding bonds has jumped almost 25 percent over the past month to $8.6 trillion amid slower-than-forecast inflation data and as investors piled into the safest securities as perceptions of geopolitical risk increased.
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JC Penney Becomes a Penny Stock On Poor Earnings (Poor Retail Sales and Overbuilding)
by Anthony B Sanders •
Retail anchor tenant JC Penney reported poor earnings last week, sending their stock price below $5. JC Penney is now a penny stock.
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Feeding The Beast: Why Trump and Congress Should Leave The Mortgage Interest Deduction Alone
by Anthony B Sanders •
President Trump and Congress are once again tinkering with the US tax code (rather than just trashing the entire thing and creating something simple like a flat-tax system). There will always be winners and losers
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Inflation Mirage: Core Inflation Declines To 1.7% YoY, Real Average Hourly Earnings Decline To 0.7% YoY
by Anthony B Sanders •
Inflation must seem like a mirage to Janet Yellen and The Federal Reserve. And no, it isn’t an oasis either.
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Puerto Rico’s Housing Debt Likely To Be Paid In Full (Opposed to PR’s General Obligation and Agency Debt)
by Anthony B Sanders •
Puerto Rico is seeking to reduce $74 billion of debt, but Federal housing bonds may be paid in full.
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More Cowbell? Producer Prices Falls For the First Time In 11 Months (Now 1.8% YoY)
by Anthony B Sanders •
Producer prices (output) are a measure of the change in the price of goods as they leave their place of production (i.e. prices received by domestic producers for their outputs either on the domestic or foreign market).
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Corporate Profits (Per Unit of Real Gross Valued Added) Were Negative for 7 of Last 8 Quarters As Dow Hits 22,000
by Anthony B Sanders •
The Dow Jones Industrial Average keeps on rising and is now hovering around 22,000.
