US Existing Home Sales Bounced In February As Mortgage Rates Tumbled

Having burned through billions of dollars and depleted critical munitions stockpiles, the Pentagon is running out of money. Our money. According to the Washington Post, the Pentagon is facing an urgent budget shortfall caused largely by the Iran war, with some critical funding accounts expected to run dry within weeks. Training, maintenance and other military priorities are reportedly being […]

From Forward Guidance To Market Guidance: Warsh's Reflexive Wrecking Ball? Authored by Nohshad Shah, Citadel Securities EMEA Head of Fixed Income, The Fed sounds hawkish... but markets are testing the reaction function Chair Warsh was unequivocal that there is “no soft inflation target”, that five-plus years of above-target inflation cannot be cured by nine weeks of better data, and that this Fed “will not waver”. Yet despite that language…and three members preferring an immediate hike…the FOMC again declined to move. Warsh instead repeatedly highlighted the large rise in nominal and real Treasury yields since June,...

Space Stocks Take-Off On Musk's SpaceX IPO Comments AST SpaceMobile, EchoStar, and Rocket Lab moved higher in premarket trading in New York after Elon Musk, speaking by video at the Samson International Smart Mobility Summit on Monday, said a SpaceX IPO is coming "pretty soon," adding to investor hype around the publicly traded space industry. "We've got to get the SpaceX IPO stuff going here pretty soon," Musk told the summit, which was taking place in Tel Aviv, via video call. Elon: "I would be there in person, but we...