The striking Case-Shiller regional charts shown below, courtesy of MHanson.com, make Mark Hanson angry: "so, 2006/2007 was the largest house price bubble ever, but there is nothing to see here in 2017?" and sarcastically points out that "if this isn't a house price bubble, I would hate to see one."
His bottom line:
Unofficially, Libor died some time in 2012 when what until then was a giant "conspiracy theory" - namely that the world's most important reference index, setting the price for $350 trillion in loans, credit and derivative securities had been rigged for years - was confirmed. Officially, Libor died earlier today when the top U.K. regulator, the Financial Conduct Authority which regulates Libor, said the scandal-plagued index would be phased out and that work would begin for a transition to alternate, and still undetermined, benchmarks by the end of 2021.
A surge in Amazon shares this morning (ahead of earnings) has propelled founder Jeff Bezos past Microsoft founder Bill Gates as the world’s richest person...
As Bloomberg reports, shares of the online retailer rose 1.8 percent to $1,071.31 as of 9:30 a.m. in New York. If the gains hold through the close, Bezos, 53, could leapfrog Gates on the Bloomberg Billionaires Index. The 61-year-old Microsoft Corp. co-founder has held the top spot since May 2013.
A huge upside surprise for durable goods orders (+6.5% MoM vs +3.9% MoM) was dominated by a 19% spike in transportation (with non-defense aircraft orders up 131.2% MoM)
Up from $11bn to $25.3bn...
New orders for manufactured durable goods in June increased $14.9
billion or 6.5 percent to $245.6 billion, the U.S. Census Bureau
announced today. This increase, up following two consecutive monthly
decreases, followed a 0.1 percent May decrease.
Submitted by Bill Blain of Mint Partners
Are We In A Bubble About To Burst, Or Are We Facing Massive Equity Upside?
“A liberal is a conservative who has been arrested.”