How Will The Surge In Oil Prices Impact US GDP: One Bank Answers

Back in late 2014, when oil prices tumbled after the OPEC “thanksgiving massacre“, the conventional narrative was that dropping oil prices were a boon for the economy as they resulted in lower gas prices and thus greater discretionary income. The stark reality emerged quickly, however,…

“Shocking” Turkish Inflation Hits 15 Year High, Unleashing Stagflationary Shockwave; Lira Plunges

A few days ago we discussed how soaring oil prices have been a stagflationary double whammy to emerging markets, which have been hit not only by a surging dollar, resulting in a collapse in local currencies and spiking import costs, but a spike in local…

Vancouver Home Sales Crash 44% As “For Sale” Inventory Soars

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 September, when according to the Real Estate Board of Vancouver (REBGV), residential property sales tumbled by 17.3%…

Theresa May Proposes Tax On Foreign Homebuyers As London Property Rout Worsens

Housing prices in the world’s premier markets – London, New York and Hong Kong, all of which were recently highlighted on the latest UBS ranking of cities with the largest housing bubble risk… …. have finally started to retreat after years of unprecedented growth (a…

Art Berman: Don’t Believe The Hype – Oil Prices Aren’t Going Back To $100

The breakout in Brent crude prices above $80 this week has prompted analysts at the sell side banks to start talking about a return to $100 a barrel oil. Even President Trump has gotten involved, demanding that OPEC ramp up production to send oil prices…

Oil Drops After Saudis Say Ready To Pump Additional 550K Barrels

One week after President Trump tweeted his latest demand for OPEC to cut oil prices (presumably by boosting production), Saudi Arabia is reportedly considering doing just that. We protect the countries of the Middle East, they would not be safe for very long without us,…

Canadian Shale Is Hitting The Wall

Authored by Tsvetana Paraskova via Oilprice.com, Plunging Canadian prices have been depressing oil producers’ realized prices and revenues, even though the U.S. benchmark and the international Brent Crude prices have rallied year to date. But it’s not only oil sands producers that have been coping…

Pending Home Sales Slump For 7th Straight Month As “Overheated Real Estate Markets” Start To Drop

Amid its “broadest slowdown in years” the US housing market faces prices for starter homes at the highest they have been since 2008, just prior to the collapse of the housing market, and August is confirming that prices are indeed becoming an issue. Following the…

Starter Homes Most Expensive Since Just Before Last Housing Crash

There is a simple reason why the US housing market is headed for its “broadest slowdown in years“: prices for housing are just too high, a new report suggests. Which is odd considering the conventionally accepted narrative that “rising prices are better for everybody.” According to…

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……