Spanking Children is Immoral and Ineffective

US Existing Home Sales Disappoint In April, Despite Lower Mortgage Rates With the Spring selling season already in tatters, existing home sales were expected to rebound in April very modestly (+2.0% MoM) off recent record lows. However, the rebound was far less than expected, up just 0.2% MoM, which left sales of existing homes unchanged YoY... Source: Bloomberg Total existing home sales SAAR hover just above 4.00 million homes... Source: Bloomberg The NAR report showed the median selling price rose 0.9% from a year earlier to $417,700 last month - the highest for any...

"Make A Deal Before It's Too Late": Trump Threatens Tehran (Again) As Iran/Oman Draft Protocol To Re-Open Hormuz Summary World's most important oil price hits record high as Trump threatens Iran: "make a deal before it's too late" Oil drops on reports of Iran-Oman coordination to reopen strait. Iran issues Israel/Gulf logistics hubs target list; IRGC targets Amazon Cloud computing center in Bahrain US intelligence assessments say Iran is not ready to negotiate given it believes it has the strategic upper-hand, and doesn't believe Trump is 'serious' about talks: NYT Highest bridge in Iran, connecting Tehran...

Key Events This Week: Nvidia Earnings, FOMC Minutes And Global PMIs Looking at the week ahead, Nvidia’s earnings on Wednesday, with a market capitalisation now of $5.46tn, will be the main event. In economics, we have the global flash PMIs on Thursday, along with inflation data from Canada tomorrow, the UK on Wednesday, and Japan on Friday. From central banks, the highlight will be the FOMC minutes on Wednesday. Those flash PMIs will be important, as they’re one of the first indicators on how the global economy has performed this...