Greetings,
United States: Let’s begin with the housing market. Residential construction didn’t rebound much in May. Economists were hoping to see more of a pop in housing starts.
Mortgage applications suggest that we should have already seen a stronger bounce in the housing market.
Canada: Canada faces deflation for the first time in over a decade.
China: The services sector registered positive year-over-year growth in May.
Equities: Quantitative hedge funds have been scraping data on retail investors’ most popular shares and trading on this information (see story). Here are the most popular stocks on Robinhood.
Rates: Morgan Stanley sees the Fed’s balance sheet exceeding $10 trillion by the end of next year.
Food For Thought: Democrats’ VP nomination odds in the betting markets.
Edited by Daniel Moskovits
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