Business

Following strong starts/permits data but weak mortgage apps (biggest drop in 3 mo), existing home sales broke the tie with a yuuge beat, surging 5.6% MoM (against expectations of a 0.9% jump)...

...to the strongest pace of sales since December 2006.

The median existing-home price for all housing types in November was $248,000, up 5.8 percent from November 2016 ($234,400). November’s price increase marks the 69th straight month of year-over-year gains.

Sell the news... again...

Nasdaq is now red on the week again...

VIX crashed to 8.90 as cash markets opened...

30Y yields back at the Nov 1st FOMC level...

Some are suggesting the extremely rapid long-squeeze in Treasuries is triggering Risk-Parity unwinds...

Now that it is abundantly clear that for a stock to explode higher, all that is necessary - and sufficient - is a press release mentioning the company's name and throwing in the word "blockchain" in the same sentence (see Riot Blockchain and LongFin Corp), other public microcaps have decided that if that's all it takes, then by all means they will gladly take investors' money.

Authored by David Stockman via Contra Corner blog,

Since last November 8th the Russell 2000 has risen by 30% and the net Federal debt has expanded by an astounding $1.0 trillion dollars.

What Peak Gold, Interest Rates And Current Geopolitical Tensions Mean For Gold in 2018