Mortgage Rates Hit 9-Month High, Freezing Out Homebuyers In Peak Season

Although it's true that many government-driven price hikes in recent years aren’t “inflation” in the strict sense, the pain they cause is just as real. Warsh’s push to narrow what the Fed counts as inflation—so it can justify even more inflation—is alarming.

Situational Unawareness Via Rabobank, Markets have a habit of explaining every move with the most obvious narrative available. This week, that narrative was earnings. Investors spent days dissecting cloud growth, AI capex, free cash flows, and also Fed messaging, while some of the most dramatic price action of this summer was being driven by something else entirely.  That "something else" was Situational Awareness, the AI-focused hedge fund run by a 24-year-old whizz-kid, which reportedly had to offload most of its public equity book to Citadel following the recent tech rout. It turns...

Detroit Gets Drafted: Ford And GM Head Back To The Battlefield One of the defining themes of the Trump administration's second term has been rebuilding America's industrial base—not just by bringing manufacturing back to U.S. soil, but by restoring domestic capacity in industries considered critical to national security. Defense production sits squarely at the center of that effort, with Washington increasingly looking to private industry to expand military manufacturing. The latest example is the Pentagon's push to enlist Detroit's automakers in building the Army's next generation of tactical vehicles. In that vein,...