Those Big, Beautiful Bonds

Prospective Homebuyers Face Another Year Without Affordability Relief Goldman economist Ronnie Walker has some bad news for prospective homebuyers: while the housing market appears soft but broadly stabilizing, affordability pressures are unlikely to abate anytime soon. Walker expects mortgage rates to remain elevated through next year, while national home prices are still forecasted to rise modestly. That means buyers waiting for a price correction or lower rates may be disappointed, as the market remains locked in an ultra-low-turnover environment where high borrowing costs, limited affordability, and sticky prices keep many folks...

Both Iranian & Israeli Officials Call Out 'Paper Tiger' Saudi Arabia Regional rivals and enemies are calling out Saudi Arabia as a "paper tiger" which must rely on others for protection and defense needs. Criticisms of Riyadh are being issued on the same day the kingdom signed a major security pact with the other major Muslim-dominant nations of Pakistan and Turkey. Formally called the Makkah Joint Defense Agreement, it is essentially a NATO-style agreement for the 'Muslim world' - given that it stipulates and formalizes that an armed attack on any of the countries will...

Airspace Lockdown Looms: US Warns Americans Get Out Of Mideast As Iran Targets Kuwait Again There were no Friday night into Saturday morning US attacks on Iran, after President Trump warned he has given an order to hit Iran 'hard' - though didn't disclose a timeline. Friday reports in The Wall Street Journal, CNN, and Axios strongly suggested that large US strikes would commence at some point this weekend, as the region remains on edge. The only new and recent attacks have been more apparent Iranian drone strikes on Kuwait. Kuwait’s Foreign...