Stocks Are Cratering As Investors Worry About “The Perfect Storm” That Is Erupting All Over The Globe
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CoreLogic Case-Shiller
Case-Shiller Home Price Growth Slows As San Francisco Bubble Continues To Deflate
Amid a slew of mixed housing data (weak starts, permits; rebound in existing sales at record median prices), S&P CoreLogic Case-Shiller reports that home price growth slowed to just 0.28% MoM (the weakest since Aug 2016), considerably worse than the average seasonal slowdown.
Year-over-year gains also slowed to just 5.67%, missing expectations.
Futures Fall On Rising Trump Uncertainty; Europe Stocks Rise As Euro-Area Inflation Surges
European bonds fell and stocks rose led by banks and retailers as surging inflation data prompted investors to switch into reflationary assets even as speculation about ECB tapering has returned. Asian stocks and US equity futures declined. The Yen and gold advanced after Trump’s firing of the U.S. acting attorney general added to concern over the unpredictability of decisions in the new administration.