Business

Authored by Lance Roberts via RealInvestmentAdvice.com,

In a recent post by Jeffrey Snider he made an important observation:

While hard data has been hovering at 2-year lows, soft data has been rebounding recently... until today - The ISM Services index saw its steepest m/m decline this month since the financial crisis.

Mueller headlines spooked stocks at the end of the day but the machines had one message for investors...

Authored by Wolf Richter via WolfStreet.com, 

"The real economy has little to gain, and much to lose.”

Until mid 2017, it appeared that nothing could stop the Toronto home price juggernaut:

And yet, In early May we wrote that "The Toronto Housing Market Is About To Collapse", when we showed the flood of new home listings that had hit the market the market, coupled with an extreme lack of affordability, which as we said "means homes will be unattainable to all but the oligarchs seeking safe-haven for their 'hard'-hidden gains, prices will have to adjust rather rapidly."

Authored by Tho Bishop via The Mises Institute,

When Janet Yellen testified before the House Financial Services Committee last month, she faced grilling on a topic that hasn’t received enough mainstream attention: the interest being paid on excess reserves at the Fed. While the topic has come up occasionally since the program began in 2008, it is worth noting that Yellen was pushed by both Jeb Hensarling, the committee chairman, and Andy Barr, the chairman of the Monetary Policy Subcommittee.