Greetings,
The United States: Existing home sales were down almost 30% last month on a year-over-year basis.
More homeowners will be renting rather than selling their houses as homebuyer demand crashes.
Emerging Markets: It’s been a lost decade for Brazil.
Cryptocurrencies: Crypto remains under pressure.
Coinbase’s debt price is nearing 50 cents on the dollar.
Equities: CEO sentiment points to deeper reductions in earnings.
Rates: Banks now have substantial unrealized losses on their bond holdings.
The Fed’s balance sheet is now down roughly $340 billion from the peak.
Food for Thought: Lastly, here’s a look at the past World Cup winners.
Edited by Alexander Bowers
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