US Interceptor Inventory Took Another Big Hit Last Week, As CBO Pegs War Cost At $38 Billion+

US Housing Starts Plummet In July, Near COVID Lows After Housing Starts exploded higher in June (driven by a massive rebound in multi-family units), July was expected to see a reflexive decline of 5.9% MoM... ...things were considerably worse, with US Housing Starts plunging 12.4% MoM (the third major monthly drop in four months)... On the other hand, the more forward-looking Building Permits (preliminary for July) rose 5.0% MoM (well above the 0.6% MoM expected), after two months in a row of declines. On a SAAR basis, Starts at back near post-COVID lows...

Sign(s) Here, Here, And Here By Michael Every, global strategist at Rabobank After pricing in nearly 40 pronouncements of US victory since early April, markets have naturally embraced a US-Iran ‘deal’ now e-signed --with a thumbs up emoji?-- so all that’s left is a ceremony to mark the event on Friday. That and the details of what was signed, which are still lacking from the US. In their absence, we get more polymetis spin from both sides. Iran is saying they got everything they wanted, and there are signs of that. Weeks...

The Senate version of the 2027 National Defense Authorization Act (NDAA) includes three-quarters of a billion dollars in military aid for Ukraine. President Donald Trump cut US military aid to Ukraine, although he has continued to sell weapons to NATO that are transferred to Kiev.  On Thursday, the Republican controlled Senate Armed Services Committee added […]