The US trade deficit widened in July, growing by 0.3% from a downward revised $43.5 billion to $43.7 billion, and beating expectations of $44.7 billion, as exports decreased more than imports. The goods deficit decreased less than $0.1 billion in July to $65.3 billion. The services surplus decreased $0.2 billion in July to $21.6 billion.
Breaking down the components, first exports:
Yesterday we highlighted the turmoil in the T-Bill market, when the sale of $20 billion in 4 week paper priced at a high yield of 1.30%, a whopping 7bps tail, and the highest yield since September 2008.
A UK co-living company has announced that it will begin accepting down payments made in bitcoin, according to CoinTelegraph, making it that much easier for traders hooked on effortless, outstanding returns to speculate in another bubble-prone market: UK housing.
Lego cemented its status as a vaunted turnaround story with the success of the “Lego” movies which – fun fact – were produced by Treasury Secretary Steve Mnuchin.
After two (and soon three) "generational" market crashes, Joe Sixpack may have lost interest in the stock market (or at least in single names, the transfer of bagholder rights from institutions to retail investors via ETFs is doing just fine), but when it comes to chasing torrid, upward price momentum, US retail investors are doing their best frenzied Chinese housewife impression now that they have discovered the next big bubble thing, and it's called bitcoin.