Better Off? How Generational Progress Slowed In The US

A senior US official said that the latest offer received from Iran was unacceptable, and President Donald Trump was considering breaking the ceasefire with Iran.  According to a senior official and a second source speaking with Axios, the White House views the Iranian proposal presented to the US on Sunday as insufficient. Trump is expected […]

Turkey Takes On Houthis? Any Support To Saudis Faces Huge Blowback Via Middle East Eye Turkey's new commitments to Saudi Arabia under the Mecca defence pact could increase the risk of Ankara being drawn into a confrontation with Yemen's Houthis, a development that could have significant consequences for Turkish supply lines to the Horn of Africa. Although Turkey has yet to ratify the pact, expected in October, continued Houthi attacks against Saudi Arabia, and Ankara’s recent participation in the Saudi-led Multinational Maritime Defense Alliance make some form of confrontation possible. Several regional...

US Pending Home Sales Collapse To Record Lows In September And the housing market's annus horribilis continues (existing home sales near COVID lows, mortgage rates at three year highs, homebuilder confidence at GFC lows, homebuyer confidence at record lows, housing starts near COVID lows)... After a very small rebound (+0.3% MoM) in August, US Pending Home Sales collapsed (-7.3% MoM vs -3.9% MoM exp) in September. That dragged  “Market conditions weakened in September due to fast-rising mortgage rates,” says Lawrence Yun, NAR’s chief economist. “Although job growth and income gains can support home purchases,...