Opinions Uncensored

Sunday Night Futures

Weekend:• Schedule for Week of Aug 19, 2018Monday:• No major economic releases scheduled.From CNBC: Pre-Market Data and Bloomberg futures: S&P 500 are up 3 and DOW futures are up 33 (fair value).Oil prices were down over the last week with WTI futures at $65.86 per barrel and Brent at $71...

Lawler: A Few “Hot” Markets Home Inventories are Up Sharply

CR note: Some data below from housing economist Tom Lawler:Active Listings and Closed Sales, Single-Family HomesActive ListingsClosed Sales7/120187/1/2017% Chg7/1/20187/1/2017% ChgKing County, WA(includes Seattle)4,1632,89843.7%2,4772727-9.2%Nashville, TN8,3236,17734.7%3,2323,248-0.5%Portland,...

Schedule for Week of August 19, 2018

The key economic reports this week are July New and Existing Home Sales.Fed Chair Jerome Powell will speak on Friday at the Federal Reserve Bank of Kansas City Economic Policy Symposium, at Jackson Hole, Wyo.----- Monday, Aug 20th -----No major economic releases scheduled.----- Tuesday, Aug...

Oil Rigs: "A breather after last week's big gains"

A few comments from Steven Kopits of Princeton Energy Advisors LLC on August 17, 2018:• Oil rigs took a breather, consolidating last week’s gains• Total rigs were flat at 869• Horizontal oil rigs declined, -2 to 768...• Horizontal oil rig counts stand at the level of ten weeks ago in both the...

Lawler: Early Read on Existing Home Sales in July

From housing economist Tom Lawler: Early Read on Existing Home Sales in JulyBased on publicly-available local realtor/MLS reports from across the country released through today, I project that existing home sales as estimated by the National Association of Realtors ran at a seasonally adjusted...

Q3 GDP Forecasts

From Goldman Sachs:We lowered our Q3 GDP tracking estimate by one tenth to +3.2% [Aug 16 estimate].emphasis addedFrom Merrill Lynch:We nudged down 3Q GDP tracking by a tenth to 3.3%. [Aug 15 estimate].And from the Altanta Fed: GDPNowThe GDPNow model estimate for real GDP growth (seasonally...

California: "Housing market retreats", Inventory up 11.9% YoY

The CAR reported today: California’s housing market retreats for third straight month as affordability crunch dampens demandCalifornia’s housing market backpedaled in July on an annual basis for the third consecutive month as higher interest rates and rising home prices eroded housing...