Jeremy Grantham expects stocks to tank, a recession to bite, and more financial disasters to occur. The S&P 500 will plunge by at least 27%, and could plummet by more than 50%, the GMO cofounder says. Grantham predicts stress on …
Raad Yousif drives his pickup truck past cactuses and sandstone cliffs, hunting for Phoenix’s best real estate bargains. On this December weekday, he pulls into a subdivision of blocky pueblo-inspired town homes from the 1970s, the bare, dusty landscaping evoking …
(Bloomberg) — Country Garden Holdings Co. said first-half earnings plunged 96%, the most since its 2007 listing in Hong Kong, as China’s property crisis engulfed the nation’s largest developer by sales. Unaudited net profit slumped to 612 million yuan ($88 …
by Boo_Randy $11 trillion in fake “wealth” created by central bank funny money vaporized…with far worse to come as Tech Bubble 2.0 and Housing Bubble 2.0 look set to be the catalysts for the implosion of the Fed’s Everything Bubble. …
by confoundedinterest17 Bitcoin tumbled 20% from record highs notched earlier this month as a new variant of the coronavirus spurred traders to dump risk assets across the globe. The world’s largest cryptocurrency fell as much as 8.9% to $53,624 on Friday …
Stock Market’s September Slump Exposes Messy Underside Rally hit bump in September, the worst month for S&P 500 since 2020 Markets are closing out the quarter on a tumultuous note. Stocks have pulled back from all-time highs. Shares of large, …
(Bloomberg) — China’s latest moves to tighten its grip on internet giants helped trigger a fifth consecutive day of selling in the nation’s bellwether technology stocks. The Hang Seng Tech Index dropped 3.1%, after the market regulator issued draft rules …
Lumber Prices Slump As Historic Boom Hits A Wall Lumber futures on Chicago Mercantile Exchange fell -3.1% to $1,284.20 per 1,000 board feet, extending last week’s first loss since January. For the last 18 trading sessions, lumber prices have come …
Rising risk of US and China housing slump causing recession – IMF https://www.theguardian.com/business/…
via Zerohedge: Following February’s very mixed picture (Services soared, Manufacturing tumbled), PMIs were expected to revert modestly in March (especially following this morning’s collapse in German PMI). However, just like Germany, US Services and Manufacturing PMIs dropped notably more than …
Real estate is a huge problem now for investors and home owners who have gotten in way over their heads. Most people have taken on way too much debt. Many are walking away from their purchases. Some are underwater. The …
via @crossbordercap: Does The Flat US Yield Curve Really Matter?
https://www.youtube.com/watch?v=eFujzlkgubs In the wake of Tuesday’s market carnage, with almost all of the major indices losing 3% of their value, Dan sees a rough slog ahead for almost all U.S. stocks. By any reasonable metric, stocks are a bad deal …
via Jeremy Hill A credit market guidepost suggests the turmoil in high-grade bonds isn’t over yet. The CDX investment-grade index, a measure of the cost of default protection for high-grade bonds, surged during the trading day Monday and at one point …
via Jeremy Hill A credit market guidepost suggests the turmoil in high-grade bonds isn’t over yet. The CDX investment-grade index, a measure of the cost of default protection for high-grade bonds, surged during the trading day Monday and at one point …
By Bob Shanahan Homes sales in the U.S. dropped 5.5 percent in the month of September, recording the fourth straight monthly decline as the housing market continues to show signs of peaking with mortgage rates on the rise. New …
from Zero Hedge Following a disappointing April for home sales data, and weakness in May’s building permits data, our fiorst glance at May sales suggests all is not well. Existing home sales slipped 0.4% MoM (and were revised lower in April), well below …
By David Stockman The are few snarkier defenders of the current rotten financial status quo than Ben White of Politico’s Money Morning. So it’s not surprising that he is out this AM with the latest Trumb-o-phobe meme from Swamp Dweller’s Central. To wit, the renewed stock market …
by Umar Farooq The world’s biggest beverage maker will cut 1200 jobs as it deepens its cost cutting measures. The cost-cutting comes as the soda giant has found its legacy brands pressuring by a consumer trend toward foods and drinks …