Following this morning's plunge in new home sales...
After household formation collapsed in June...
It appears Institutional Risk Analyst's Chris Whalen is spot on with his mortgage finance update: "Winter Is Here"...
Authored by Mohamed El-Erian via Bloomberg.com,
"Everybody has a plan...until they get punched in the face."
-Mike Tyson
Paul Alster has an interesting story this month in The Jerusalem Post. It begins by informing us that...
"A fierce battle is being waged in the north of Israel."
Then goes on to say...
Authored by Tho Bishop via The Mises Institute,
Ever since entering the Senate, Rand Paul has continued his father’s work in advocating for an audit of the Federal Reserve. This week, writing for the Daily Caller, Senator Paul renewed his efforts, illustrating how the recent era of unconventional monetary policy has made an audit all the more important:
Venezuela bonds are tumbling after the WSJ reported that the US government was considering a ban on trading in the country's debt. PDVSA’s 12.75% 2022s were trading at 44.75 this morning,down from around 45.65 at Tuesday's close and two points weaker than levels seen earlier in the week, according to MarketAxess. Bond traders also sold PDVSA's 6% 2026s, which had fallen about a point to 30.00.