A deal has been reached. Jean-Claude Juncker opposes an extension. A constitutional challenge to the deal is underway.
The National Average Rent declined for the first time in two years, dipping a mere $1 to $1,471.
Lacy Hunt at Hoisington Management has another sterling post in its third quarter review and outlook.
Retail sales floundered in September, even taking in account an upward revision in August.
As we head into the final negotiations, what are the odds a deal passes?
The US House passed a bill in support of Hong Kong Protests. It's both stupid and hypocritical.
German Chancellor Angela Merkel ignored an EU risk assessment and allows Huawei's 5G technology.
A Brexit deal looks highly likely but it will likely take an extension to get the deal signed, sealed, and delivered.
Trump accused Turkey of creating a humanitarian Crisis. Europe fears a flood of refuges. US nukes held hostage.
The Kurds entered a pact with Syria to stave of a bloodbath at the hands of Turkey. Syrian forces gain territory.
Golden Week, a seven-day Chinese holiday, is traditionally a peak period for home sales. This year, sales plummeted.
Prime Minister Boris Johnson presented the Queen's Speech outlining his agenda. Jeremy Corbyn said it was a farce.
For a deal not yet signed and whose details are totally lacking, Trump thanks China.
The UK PM is committed to obeying a law that requires him to do something that he says he will not do. What's the catch?
Dissent within the ECB over QE is at unprecedented levels and rising. But what does "counterproductive" really mean?
Reports surface of war crimes against the Kurds after Turkey Invaded Syria. Trump threatens sanctions.
The market rallied yet again on Friday on still more rumors of a trade deal with China. Details are lacking.
Economic news took a tenth of a percent off the Atlanta Fed GDPNow forecasts. The New York Fed Nowcast was stable.
Export prices fell for the fourth time in five months while import prices rose slightly.
Emergency Fed actions for the end of 3nd Quarter 2019 now stretch to the second quarter of 2020.
The British Pound is up again on news of pending Brexit negotiation talks between the UK and EU.
Have the car to yourself. Completely driverless commercial cars are now in operation.
A Brexit deal is back in play following a between Prime Minister Boris Johnson and his Irish counterpart Leo Varadkar .
Widespread power outages leave million of Californians without electric power.
Consumer prices were flat in September and core CPI rose less than expected. Housing and medical services are problems.
Businesses are bracing for sweeping changes, none of it any good.
Job openings unexpectedly declined for the third month but the number of openings is still historically elevated.
Powell was busy yapping away about the need to control interest rates, looking more than a bit foolish in the process.
The trade talks are not going well. China threatens to pull out and Trump threatens Chinese companies.
The Producer Price Indexes for goods and services both unexpectedly declined in September.
Brexit negotiations have all but broken down. Unless quickly revived an Iron Curtain Brexit is in play.
Total consumer credit rose $19.9 billion in August but credit card debt fell after a sharp rise last month.
For a while it appeared the EU was ready to negotiate with Johnson. Perhaps appearances were deceiving.
Turkish president Recep Tayyip Erdogan told the US he will invade Syria to attack the Kurds, a US ally. Trump pulls out.
The 30-year long bond yield just fell back below 2.00% for the first time since September 4.
Boris Johnson has taken the Benn Bill legislation blocking No Deal to the UK supreme court.
The German carmakers have finally broken the Brexit silence. Their No Deal consequences are enormous.
Illinois is second to Alaska in net outbound migration. Many move out, but few move in.
In retaliation for EU subsidies on Airbus, Trump will impose tariffs on cheese and scotch. Importers stockpile both.
The High Court of Scotland agreed to hear a case in which a person is alleged to commit a crime on a future date.
Former Fed officials said the Fed should do $250 billion in repos to alleviate the funding crisis.
The overnight and end-of-quarter repo mess is scheduled to last at least a month longer.
Private payrolls rose by only 114,000 with overall jobs rising 136,000 thanks to temporary census workers.
Boris Johnson Proposes a Northern Ireland solution. This is what the EU originally proposed.
Will initial unemployment claims provide a recession warning? If so, how long?
Danielle DiMartino poses an interesting question regarding the ECB. I have a set of answers.
Johnson submitted his plan to the EU. Ireland, Jean-Claude Juncker, and others say it won't work. Breakthrough? Where?
A third of auto loans in 2019 had a term period over six years. People cannot afford the cars they are buying.
Global equities are under pressure amid and rate cut odds rising amid weakening economic data. Trump blames impeachment.
New York Fed president John Williams is yapping today about recession tools and ability to use them quicker.
Ever since president Trump tweeted that winning trade wars was easy, I've been keeping track. The stats are impressive.
Ireland is driving a hard bargain in negotiations with Boris Johnson, so one-sided that it's legally impossible.
Commercial drone delivery officially launched today with the FAA approval of UPS.
GDPNow and other GDP estimates took a dive today on weaker than expected manufacturing reports.
The Manufacturing ISM is in the second month of contraction and the worst since June of 2009.
Many problems today including deficit spending, trade deficits, and income inequality have their roots in 1971.
Climate change alarmists have convinced the public something must be done now. The reports are easily debunked as fraud.
A set of pictures shows why Trump is convinced he can win a trade war.
Home flipping is up and so is flip financing. Flippers sing the praises of increased leverage.
Yemen’s Houthis claim to have invaded Saudi Arabia and captured thousands of troops in Najran. Conflicting stories.
Boris Johnson and his political strategist Dominic Cummings have labeled the efforts by Parliament a "Surrender" act.
Labour has a very anti-business platform in which companies would be required to give 10% of the company to workers.
Here are some of the interesting Tweets that I came across today on widely varied topics.
Hoping to force China to forge a trade deal to his liking, Trump threatens to delist Chinese firms from US exchanges.
Personal income rose 0.4% in August but spending, both nominal and real, rose a weak 0.1%
IPOs are failing. And that's not a good sign. Pulled IPOs are even worse than bad IPOs.
Trump wants to cure trade imbalances via tariffs. It cannot possibly work.
The ECB cut rates further into negative territory and the BoJ is expected to do the same. How long before Trump reacts?
A poll of employers by Kaiser Family Foundation found premiums rose 5% for family plans, topping $20,000 for 1st time.
The Fed is no longer talking about zero-bound but effective lower bound. What's the difference? Where is it?
Cryptocurrencies went on a deep dive today. Some blame new futures, others cite technical factors.
Nancy Pelosi launched an impeachment inquiry based on claims Trump tried to coerce Ukraine into investigating Joe Biden.
The UK's Supreme Court finds Boris Johnson acted illegally by suspending parliament for weeks. Resignation calls mount.
Despite being against the Maastricht Treaty on which the Eurozone was founded, Dragihi want to investigate MMT.
The center for disease control note 530 confirmed vaping illnesses, most misdiagnosed as pneumonia. Eight are dead.
A series of patients in Wisconsin and Illinois had chest pain and shortness of breath. The doctors diagnosed pneumonia.
At the Labour Party conference, which sets official party positions, members voted to not take a position on Brexit.
The interest rate business model is dead. Negative interest rates killed it, with no replacement in sight.
European manufacturing continues to dive, led by Germany. The US will follow.
Let's take a look at Tweets from some of my favorite Twitter posters.
Last week, the ECB tried to make loans more tempting to banks, but the banks wanted no part of it.
Assume Iran is responsible for the attack on Saudi Arabia. Was it justified?
Last week, Denmark’s central bank cut its deposit rate to -0.75%. Banks will pass this on to large customers.
The strategies of Labour and the Lib Dems show they will split the Remain vote. This greatly enhances the odds of a deal
Women are slowly catching up to men in median wages but growth has been pathetic across the board.
With $1.4 trillion in excess reserves, how can there be a problem with overnight funding?
Movement by the EU, by Boris Johnson, and most importantly by Ireland suggests a good chance of a reasonable deal.
Multiple cities in Illinois are forced to cut police, fire departments and other city services to fund pension plans.
Despite yesterday's rate cut and significant moves higher in long-dated treasury yields, numerous inversions remain.
Existing home were better than expected in August. NAR Chief Economist Lawrence Yun credits falling interest rates.
The latest UK polls place the Liberal Democrats ahead of labour. It's not all what it seems.
Bitcoin has been consolidating for months. Generally, and technically speaking, this suggests a big move is coming.
Some interpreted Powell's statement to mean more QE. There's a strong clue Powell meant something else. OK, but ....
The Fed's view of where interest rates are headed in 2019 are quite different from market expectations.
The Fed cut interest rates 25 basis point to a target of 1.75% to 2.00%. There were three dissents.
Likely spurred on by falling interest rates, housing stats and permits jumped in August.
As details emerge in the New York Times Kavanaugh scandal, it's very clear the NYT repeatedly made serious errors
Almost 50,000 UAW workers went on strike over the weekend. The sides are far apart according to some reports.
Traditional retailers are getting killed by online shopping, especially Amazon. Five charts tell the story.
Industrial production rose 0.6 percent vs the Bloomberg Econoday consensus estimate of 0.2 percent.
The market has given the Fed a free swing as rate cut odds dip to 47%.
Overnight interest rates surged to 10% and no one understands why.
Let's compare what Donald Trump said in 2014 vs what he is saying today regarding Saudi Arabia.
President trump is waiting for Saudi Arabia to tell us under what terms we should proceed.
A census report on health insurance coverage shows the first increase in the number of uninsured since Obamacare.
In the wake of the attack on Saudi Arabia, crude futures jumped as much as 20%. Treasury yields are flat. One is wrong!
Despite growing pressure from hawks to attack Iran, huge questions go unanswered.
Labor talks between GM and the UAW union have reached an impasse. A Strike is set for midnight tonight.
Secretary of State Michael Pompeo blames Iran for attacks on a massive Saudi Aramco oil facility.
Lindsey Graham suggests the U.S. should strike Iranian oil refineries in response an attack by Yemen on Saudi Arabia.
The Shutdown amounts to a loss of some five million barrels a day, roughly 5% of the world’s daily production of crude.
Questioning “mutual assured destruction,” Charles Kupperman called nuclear conflict “in large part a physics problem.”
Year-over-year freight volume is down nine consecutive months starting December of 2018.
A surge in auto sales buoyed consumer spending in August. Ex-autos, retail spending was flat.
Zimbabwe raised its benchmark interest rate to 70% in an attempt to curtail a second round of hyperinflation.
Despite a lot of huffing and puffing by Remainers nothing has changed.
Kamela Harris is currently in first place in the "Free Stuff" giveaway contest.
The cost of medical care services jumped 0.9% in August and is up 4.3% from a year ago.
The ECB cut interest rates 10 basis points to -0.50% and promised more QE. Trump is howling.
Australia gave "cash back" in July to those making up to $126,000. The move failed to inspire consumer confidence.
Reports by Challenger, a global outplacement and business firm, shows record CEO churn and growing corporate layoffs.
Trump's attack on the Fed reached a new level today when trump call them all "boneheads".
China is heading for fiscal and current-account deficits amid an escalating trade war. Its response is to encourage FDI.
Numerous articles note a softening of Boris Johnson's stance, especially in regards to Ireland. Let's take a look.
Thanks to negative interest rates, Germans interest income has plunged towards zero.
A feud between John Bolton and Trump finally blew open today. There are conflicting stories about what happened.
Economists Brad Setser, John Hussman, and Paul Krugman discuss tax avoidance disguised as corporate investments.
The Liberal Democrats will make Brexit cancellation part of their official election platform.
The Fed's consumer credit report shows a jump in total credit and an even bigger jump in credit card debt.
Johnson allowed Royal Assent of the Benn Bill. It will be challenged on Oct 19. Common's Speaker Bercow will resign.
Boris Johnson disclosed his "Test Legal Limits" strategy (or parts of it) this morning. Premature? Let's discus.
IOUs proliferate in China's Financial system. That's not the only problem.
Even if Boris Johnson submits an extension request, France threatens a veto. Hard line stance has benefited Johnson.
A Bank of the West study finds that 68% of millennials regret buying a home.
Amber Rudd, pensions secretary, quit Johnson's cabinet. Chancellor Sajid Javid had an impressive interview on policy.
Some of Brexit positions are nearly beyond belief. Here's one of them.
Nearly every Brexit headline in recent tout the mistakes of Boris Johnson and how he now trapped into stopping no deal.
Alpine Macro has an interesting article on risk. They provide two extremes, melt up and melt down.
The Benn Bill to stop a No Deal Brexit passed the House of Lords. It is due get Royal Assent on Monday