Pending home sales index fell 2.6 percent in June to 75.7. Year-on-year the index is down 18.6 percent. Sales were down in three of regions. The National Association of Realtors is warning that near-term sales of existing homes are likely to be "notably lower" in contrast to the spring surge which was fed by government stimulus.
Bloomberg.com
Oil, Gold, and Silver continue to move higher today. Will Oil reach $85/b this week? It is hard to say. Tomorrow's EIA numbers ought to be interesting. Maybe Demand will pick up in correlation with weak supply figures.
Global Equities tanked today highlighted by the CSI's drop of more than 50 points or 1.76%. The SPX is almost even on the day after a vigorous morning sell-off. Will we test 1130 today?
Global Debt markets continue to rally today. Even apetite for Greek 10 year notes picked up. U.S. 10 years are up over 45 bp and yield 2.91%.
Did I mention we have a weak dollar as well? I forgot, you already knew that. EUR/USD = 1.3235 as I type.
Related ETFs: iShares Silver Trust (SLV:US), iShares Dow Jones US Real Estate Index Fund (IYR:US), ProShares UltraShort 20+ Year Treasury (TBT:US)
Sports: You know its August when Brett Favre retires again. Let the drama ensue.
Patrick M. Ambrus
Analyze Capital LLC
Twitter: AnalyzeCapital
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