Israeli Airstrike Kills Three Palestinians, Including a Child, in Southern Gaza

US New Home Sales Collapse By Most In 13 Years In January Despite falling mortgage rates, analysts expected December's drop in new home sales to accelerate in January... and accelerate they did... crashing a stunning 17.6% MoM (-2.7% MoM exp) - the biggest MoM drop since July 2013. This huge MoM drop dragged sales down 11.3% YoY - the worst slide in three years... Source: Bloomberg This huge drop dragged the new home sales SAAR down to its lowest since 2022, catching down to existing and pending sales... Inventories are up (Houses for sale...

While the administration continues to downplay the possibility of boots on the ground in Iran, large numbers of US ground troops continue to conspicuously arrive in the Middle East, with over 3,500 additional troops reported by Central Command (CENTCOM) to have arrived Saturday. A substantial majority of the new arrivals were US Marines aboard the […]

We are reminded time and again that prices emerge from subjective valuation, not objective criteria.