Flurry of Israeli Strikes in Southern, Eastern Lebanon Kill 5, Wound 24

The Shooting In The Strait Ain't Over, But... Authored by Larry Johnson via Sonar21.com A little over a week since the US and Iran signed the MoU, some ships that had been trapped in the Persian rushed to travel through the corridor, with many trying to use an alternative route on the southern side of the Strait along the Omani coast. The International Maritime Organization (IMO) had coordinated this alternative routing with Oman - hugging the UAE and Musandam Peninsula coastline, avoiding the central passage that Iran had mined. This route...

US Home Prices Are Rising At Their Fastest Pace In A Year Following its unexpected rebound in May (from three months of declines), US home prices in America's 20 largest cities were expected to rise again (+0.1% MOM) in June (according to the latest data from S&P Cotality Case-Shiller). Instead prices actually accelerated more, up a sizable 0.24% MoM, pulling home prices up 2.1% YoY - the fastest acceleration in a year... “Seasonal factors continue to support monthly price growth," said Rebecca Kaufman, Associate Director of Commodities at S&P Dow Jones Indices. "Because...

Hope And Reality By Teeuwe Mevissen, Senior Macro Strategist at Rabobank Since the start of the Iran war the market has had a tendency to view the likelihood of a peace agreement with a ‘glass half full’ attitude. Once again, markets have found some comfort in encouraging remarks from both the US and Iran, even though both sides are making it clear that there are still major sticking points on critical issues. US Secretary of State Rubio has suggested that there are “some goods signs” towards finding a resolution. This is despite Iran’s...