Surging Services Costs Spark Unexpected Surge In US Producer Prices In January

Japan, Bretton Woods 2.0, & The End Of The Carry Era Japanese Finance Minister Satsuki Katayama is set to announce as early as Monday that Tokyo and Washington are coordinating on steps in the foreign exchange market to curb the yen’s weakness, a person familiar with the situation told Bloomberg. Satsuki Katayama The content of the announcement is still being worked on but could happen as early as Monday morning, the person said, declining to be identified as the information isn’t public. Reuters earlier reported Katayama would confirm the joint action, and reinforce the two sides’ commitment...

US Housing Starts Plummet In July, Near COVID Lows After Housing Starts exploded higher in June (driven by a massive rebound in multi-family units), July was expected to see a reflexive decline of 5.9% MoM... ...things were considerably worse, with US Housing Starts plunging 12.4% MoM (the third major monthly drop in four months)... On the other hand, the more forward-looking Building Permits (preliminary for July) rose 5.0% MoM (well above the 0.6% MoM expected), after two months in a row of declines. On a SAAR basis, Starts at back near post-COVID lows...

Demented: Councillor Pushes Kids To Send Valentine's Cards To Illegal Male Migrants Authored by Steve Watson via Modernity.news, A Green Party councillor in the UK has sparked outrage by announcing plans to take her young grandchildren to deliver handmade Valentine’s Day cards to adult male asylum seekers at a migrant camp. This comes amid widespread local opposition to the government’s decision to house hundreds of illegal migrants in a former military base, and fresh revelations about horrific crimes committed by similar arrivals. Anne Cross, an East Sussex County councillor, made the announcement at a heated...