The latest monthly survey of credit investors from Bank of America, released overnight, shows the same familiar paradox we have seen ever since the start of the year: most survey respondents are allegedly scared worried about geopolitics and a concerned that the market is a bubble, and yet at the same time, most are allocating even more assets into what may be the biggest and riskiest credit bubble of them all: junk debt.
Via AdventuresInCapitalism.com,
For the past few years, most retailers have struggled. Of course, it’s easy to blame Amazon.com, but it is only one of many causes. At the same time, for us hedgies living in major cities with luxury malls, there is confusion about the problem itself - my mall is crowded and people are shopping. After having debated with friends endlessly on what the real root of the problem is, I decided it was time to actually go investigate. Every city has its own story and the local mall is the nexus of that story.
With the New York City real-estate market sagging under the weight of too much inventory following a credit-driven surge in multifamily housing in recent years, the return of Manhattan’s marginal buyer could finally be at hand.
A ranking of the city’s best-selling condo buildings from Property Shark hints at how the ultra-high end of the market, where units can sell for $20 million or more, appears increasingly vulnerable. While some of the top-selling buildings have racked up impressive sales totals, some have vacancy rates as high as 40%.
Update: According to Site Intel Group, an Islamic State operative has indicated IS is responsibile for the Resorts World Manila Attack.
IS Operative Indicates IS Responsibility for Resorts World Manila Attack https://t.co/El4GWUHE3s
— SITE Intel Group (@siteintelgroup) June 1, 2017
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Social-media company Foursquare has crunched the data generated by its 50 million active monthly users and determined that America’s share of the international tourism market has fallen sharply since October.
According to data published on the company’s blog, visits by foreigners to the U.S. started to decline in October, when they fell by 6% year-over-year. The decline has continued through March 2017, the latest month for which Foursquare has data, when visits declined by an astounding 16%.