Great Resources to Start the Week in Markets

*  We continue to see massive divergences among stock sectors, as nicely tracked by the Finviz site.  This has created weakening breadth for stocks overall, as interest rate sensitive, US dollar strength sensitive, and commodity sensitive shares have significantly underperformed healthcare and growth-related sectors.  It is difficult to imagine a resumed bull market with China/Asia/commodity… Read More

Black Knight: House Price Index up 1.1% in May, 5.1% year-over-year

Note: I follow several house price indexes (Case-Shiller, CoreLogic, Black Knight, Zillow, FHFA, FNC and more). Note: Black Knight uses the current month closings only (not a three month average like Case-Shiller or a weighted average like CoreLogic), excludes short sales and REOs, and is not seasonally adjusted.From Black Knight: U.S. Home Prices Up 1.1… Read More

Gold Bear Market – Phase III Update

Over 2 years ago I presented my first analysis of this precious metals bear market. After extensive study of the characteristics of past bear markets, I forecast a brutal bear market that would undergo three psychological stages. Recent Commentaries |… Read More

Record Eurozone Borrowing: Public Debt Rises With Recovery; Greece a Small Sideshow Compared to Italy

The eurozone is supposedly in a state of recovery. However, in spite of that recovery, public debt and debt-to-GDP levels are still rising. Austerity is difficult to find in any realistic sense.Please consider Eurozone Borrowing Rises to Record as Recovery Remains Weak. The European Central Bank’s programme of quantitative easing has pushed down interest rates… Read More

Sunday Night Futures

From Ben Leubsdorf and Jon Hilsenrath at the WSJ: Fed Officials May Offer More Clarity on RatesFederal Reserve officials are likely to emerge from their policy meeting Wednesday with short-term interest rates still pinned near zero, though they could send fresh hints that they’re getting closer to raising rates. ...This leaves the Fed with a… Read More

WSJ: More Oil Industry Layoffs Coming

From Lynn Cook at the WSJ: Sudden Drop in Crude-Oil Prices Roils U.S. Energy Firms’ ReboundU.S. energy companies are planning more layoffs, asset sales and financial maneuvers to deal with a recent, sudden drop in U.S. crude-oil prices to under $ 50 a barrel, the lowest level in four months....Nearly 50,000 energy jobs have been… Read More

Santelli Exchange with Mish: Public Debt, Taxation, Legacy Issues

I had the pleasure of being on CNBC last Friday with Rick Santelli. It was the third time we discussed the sorry state of Chicago and Illinois finances. The focus for this interview was legacy issues.Public Debt, Taxation, Legacy CostsWho wants to move to Illinois, with its high taxes, when the vast majority of those… Read More

Technical Market Report for July 25, 2015

There is no evidence of a bottom and seasonally this period of weakness is scheduled to last 2 more weeks. I expect the major averages to be lower on Friday July 31 than they were on Friday July 24. Recent Commentaries |… Read More

Gold and Mining Stocks’ Bottom is Imminent

We believe that a bottom in Mining stocks and precious metals is imminent, ending their long corrective Bear Market since September 2011. Recent Commentaries |… Read More

Schedule for Week of July 26, 2015

The key reports this week are Q2 GDP on Thursday, and Case-Shiller house prices on Tuesday. The FOMC meets on Tuesday and Wednesday, and no change to policy is expected at this meeting.----- Monday, July 27th -----8:30 AM: Durable Goods Orders for June from the Census Bureau. The consensus is for a 3.1% decrease in durable… Read More

Fed Staff Accidentally Posts Bearish Economic Forecast and Prediction Inflation Would Not Hit 2% by 2020; Upset Over Leaks? Why?

The Fed created quite a stir by inadvertently posting documents on its website. The documents revealed some expected things, as well as a few startling (but not to Mish readers) projections. Please consider Fed Inadvertently Publishes Staff Forecast for 2015 Rate Hike. Staff economists at the Federal Reserve expect a quarter-point U.S. interest rate increase… Read More

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