DYS-Functional Exercise

US Existing Home Sales Bounced In February As Mortgage Rates Tumbled Despite tumbling mortgage rates, existing home sales plunged (the most since COVID) in January, with some blaming 'below-normal temperatures' despite The West suffering the biggest declines (and unaffected by the winter storms). Consensus was for a modest 0.8% MoM decline in February (again despite an ongoing drop in mortgage rates) but sales actually surprised to the upside, rising 1.7% MoM. Perhaps even more notably, January's 8.4% MoM plunge was revised up to a slightly less crazy 5.9% MoM drop... Source: Bloomberg With...

President Trump has backed off on his threat to bomb Iran’s power plants if the Strait of Hormuz wasn’t “fully opened” by Monday night and claimed that Washington and Tehran had held talks over the past two days, which has been denied by Iranian officials. “I AM PLEASED TO REPORT THAT THE UNITED STATES OF […]

Amid Saber-Rattling, Iran Touts Economic Benefits To West If Nuclear Deal Reached Days ahead of another round of talks with US negotiators -- and on the heels of more saber-rattling by the Trump administration -- Iran is touting the potential mutual economic benefits of a deal that would terminate the West's long-running sanctions regime against the second-largest and second-most-populous country in the Middle East.   "For the sake of an agreement's durability, it is essential that the U.S. also benefits in areas with high and quick economic returns," said Iranian Deputy Director for...