Kering And Hermès Sink As War Batters Earnings; Goldman Warns Luxury Dip-Buying Is "Premature"

President Donald Trump ordered strikes against civilian infrastructure in Iran, including bridges, roads, railways, and energy sites.  Overnight Thursday, the US bombed multiple bridges, a railway, a maritime watchtower, and energy sites. The US strikes killed at least eight Iranians.  For months, President Trump has threatened to bomb civilian sites in Iran if Tehran did […]

One Forgotten Housing Supply-Side Lever Could Unfreeze Affordability Rental affordability remains far superior to mortgage affordability, with the U.S. 30-year fixed mortgage rate trending around 6.5% in early June. With home prices still at record highs, last week's housing report showing sellers pulling listings at a near-record pace as buyers balk at prices is yet another warning sign that the frozen housing market remains well intact. The Trump administration's affordable housing strategy focuses on market deregulation, expanded homeownership, stricter citizenship requirements for federal housing assistance, and Fannie Mae and Freddie Mac...

The Senate on Wednesday voted against advancing a War Powers Resolution aimed at halting further US military action against Iran without authorization from Congress amid the major US-Israeli bombing campaign in the country. The resolution, introduced by Senators Tim Kaine (D-VA) and Rand Paul (R-KY), failed in a vote of 47-53, with Paul being the […]