Existing Home Sales Slump (Again) In August, Supply Hits 10 Year High

Key Events This Week: CPI, PPI, Retail Sales, Trump-Xi Summit As DB's Jim Reid tallies overnight, it has now been 73 days since the war in Iran began, with the past 32 marked by a stalemate characterized by a mix of truce and ongoing ceasefire. The absence of any meaningful kinetic activity for over a month suggests a firm US preference for reaching a deal. However, a counterpoint is that uncertainty over who holds negotiating authority in Iran may be complicating progress and delaying more difficult times ahead. It remains...

Kuwait Declares Force Majeure As US Seizure Of Iranian Ship Escalates Tensions By Charles Kennedy of OilPrice.com Kuwait has declared force majeure on shipments of crude oil and refined products after disruptions at the Strait of Hormuz prevented some vessels from entering the Persian Gulf. The move comes as tensions in the Strait escalated again following the U.S. seizure of an Iranian-flagged cargo vessel in the waterway. According to Reuters, Kuwait Petroleum Corporation has notified customers that it is invoking contractual clauses allowing it to withhold certain scheduled deliveries after the blockade hindered...

I’ve been all over the world and have seen both its good and sordid countries. One of the best run, most decent and honest nations I’ve seen is Canada. As George Bernard Shaw noted, Canada is a wonderful country, but it has nine months of winter and three months of fall. It has vast forests, […]