Business

High yield energy credit markets are in trouble again, with risk now at its highest level in 7 months.

Despite this morning's Iran-hyped OPEC bullshit and a small draw in Gasoline, it appears the reality of surging US shale production and lagging demand is weighing down oil (and gasoline) markets...

Since OPEC announced its production cut extension, the crude curve has crashed at the front-end...

Macquarie's head ofoil & gas research warns...

Authored by Michael Snyder via The Economic Collapse blog,

Do you have an emergency fund?  If you even have one penny in emergency savings, you are already ahead of about one-fourth of the country.

Authored by Craig Wilson via The Daily Reckoning,

Jim Rickards joined Boom Bust and host Lindsay France to discuss the latest monetary policy moves from the Federal Reserve.

Following API's reported build in gasoline (and distillates), oil prices have chopped around amid Saudi headlines and OPEC jawboning, as all eyes are focused on gasoline inventories in the DOE report. An unexpedted draw in Gasoline (and Crude draw) sent prices higher initially, but another surge in production capped some of the gains and prices fell back.

API

Following April's declines across the home sales data (as well as a dip in homebuilder optimism), existing home sales in May surprised positively (up 1.1% versus -0.4% exp) and follows a small upward revision to April's drop.

First-time buyers accounted for 33 percent of all sales in May, down from 34 percent in the prior month.

Inventory of available properties fell 8.4% from May 2016 to 1.96m, the 24th straight year-over-year decline.

Growth in home sales year-over-year has slowed...