new construction
New home sales fell in April, another sign that deteriorating household financial conditions are cooling housing demand. The rise in new home inventory sets up future price declines.
macroeconomics
Today's report from the Bureau of Economic Analysis shows that household budgets are on thin ice. The basic story is simple. Consumer budgets are being squeezed from three sides at once. Prices are still rising. Interest rates are still high. And income growth, after inflation, has been slipping.
macroeconomics
The 10-year Treasury is climbing into the April PCE print, and the headlines will frame it as an inflation scare or a growth story. The component decomposition shows it's neither.