Core CPI Soars At Fastest Pace Since 2008

After producer prices disappointed modestly yesterday, prompting treasury yields to tumble, all eyes are on consumer prices today as it met expectations rising by 2.9% YoY – the fastest rate of increase since Dec 2011 – thanks to soaring rent/shelter costs. CPI highest since 2011……

Italian Treasury Intervenes To Buy Bonds For Third Time Since May Crash

Italian bond prices rose on Monday after the Italian Treasury announced on Friday that it had intervened in the market with yet another debt buyback operation following a steep price decline on Friday. Unwilling to wait for the ECB’s generosity, late last week the Italian…

“Reverse-Wealth-Effect” Looms As Global Housing Bubble Pops

Authored by John Rubino via DollarCollapse.com, Just a few months ago, real estate was on fire. Prices were blowing past records set during the previous decade’s housing bubble as desperate buyers bought whatever was available at above the asking price while homeowners, confident that prices would…

Vancouver Home Sales Crash 30%, Drop To Lowest In 18 Years

What happens when prices rise so high that a chasm forms between bids and asks? The market grinds to a halt. That’s what happened in Vancouver housing in July, when according to the Real Estate Board of Vancouver (REBGV), residential property sales tumbled by 14.6%…

Lumber Futures Dump As US Construction Spending Slumps – Worst June Since 2000

Lumber futures prices are limit down today, falling to their lowest price since Dec 2017, erasing much of the post-tariff surge in prices as US construction spending unexpectedly tumbles in June. Lumber prices are freefalling back towards pre-tariff levels… And with home starts, permits, and…

Mortgage Prison: Sydney Home Prices Suffer Largest Annual Decline Since 2008

Authored by Mike Shedlock via MishTalk, Home prices in Sydney and Melbourne are back to 2016 levels. That is a tiny down payment as to what is coming. News AU reports House Prices Drop in Sydney, as Melbourne Prices Stall. Tumbling house prices in Sydney and…

Back To Basics: How Cryptocurrency Prices Work

Authored by Chrisjan Pauw via CoinTelegraph.com, 1. How do cryptocurrency prices compare to fiat currencies? Neither is backed by a commodity like gold or anything with an underlying value. The biggest difference between cryptocurrency values and fiat money is that fiat currencies are backed by central governments…

WTI Drops After Surprise Crude Build

Oil prices rebounded to unchanged intraday on hopes that tonight’s API data would show a notable draw and recover the momentum in energy markets. However, WTI dropped as API reported a surprised crude build of 629k (exp was a 4.1mm draw). “We’re expecting a fairly…

WTI Extends Gains After Biggest Crude Draw Since Sept 2016

WTI/RBOB prices soared today on the heels of Iran oil sanction threats from Washington. With expectations of further draws (after last week’s big surprise draw), API reported a massive 9.22mm barrel draw – the biggest since Sept 2016.   API Crude -9.22mm (-3mm exp) –…