ECONOMICS

Last week, we wrote that the bursting of the AirBnB bubble will also pop the broader housing bubble, which has shown remarkable resilience in the face of the highest interest rates since Volcker (although today's ominous tumble in homebuilder stocks is certainly a concern), largely the result of a staggering divergence between effective mortgage rates (since almost everyone refinanced into a 30Y mortgage when rates were at record lows a few years back and is locked into a nice, low rate (more…)

The People’s Republic of China is the world’s second-largest economy, responsible for one quarter of global GDP growth this millennium – so when the country catches a cold, the world notices.

The past several months have seen an avalanche of bad economic news for China, putting the country’s post-pandemic recovery, and global economic growth, in jeopardy.

In this visualization, Visual Capitalist's Chris Deckert looks at six important indicators that point to China’s (more…)

With manufacturing surveys still in contraction, and underlying components screaming stagflation as orders drop and prices pop, all eyes are on the 'bigger' Services sector surveys this morning which are expected to slip lower in August (but remain in expansion – above 50).

The S&P Global US Services PMI disappointed, declining from 52.3 (July) to 50.5 (final August), and below the 51.0 preliminary August print – weakest since January

BUT

The US ISM Services (more…)