United States: Mortgage applications to purchase a home continue to rebound. The market has been remarkably resilient as buyers take advantage of low mortgage rates.
Will mortgage rates move even lower?
China: Foreign direct investment in the US tumbled from the 2016 peak. Cross-border VC transactions slowed as well.
Energy: Liquid fuel markets are expected to swing into deficit starting next quarter.
Equities: Investors continue to shun companies with weak balance sheets.
Stocks have decoupled from consumer sentiment.
Rates: Jerome Powell poured cold water on negative rates.
Nonetheless, traders see a scenario in which the Fed is forced to take rates into negative territory. Perhaps not this year, …
but maybe in the first half of next year.
Food for Thought: Many Americans who lost their jobs also lost health coverage.
Edited by Daniel Moskovits
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