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Mike 'Mish' Shedlock

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Mike Shedlock / Mish is a registered investment advisor representative for SitkaPacific Capital Management. Sitka Pacific is an asset management firm whose goal is strong performance and low volatility, regardless of market direction.

Mish Talk - There is little to like in today’s residential sales report. New home sales dove 7.8% overall and prices also fell 8.1%. Economists expected a rebound in housing this month so they are no doubt shocked by the Housing Residential Sales report. New Home Sales Sales of new single‐family houses in May 2019 were at a seasonally adjusted […]

Mish Talk - A trip from LA to Las Vegas and back takes 8 hours by a gas-powered car but 13 hours by an electric vehicle. The electric vehicle grand vision may flounder on something most drivers take for granted: a quick pit stop. The inconvenient truth of electric vehicles is they are terribly inconvenient to own and […]

Mish Talk - Gold blasted $48 higher today and the 10-year Treasury yield briefly fell below 2.0% with Mideast tensions rising. Mideast tensions are heating up as Iran Shoots Down US Drone: “You’ll Soon Find Out” if US Plans Strike Says Trump. I expect cooler tempers will prevail but who knows? US Treasury Yields Gold Above Major Resistance Finally! […]

Mish Talk - Deutsche Bank, with a market cap of under $14 billion looks to spin off $50+ billion in allegedly productive assets. I am scratching my head a bit over this idea. From the expression on CEO Christian Sewing’s face, he is too. Please consider Deutsche Bank Plans Radical Overhaul With €50bn Hived Off to ‘Bad Bank’. Deutsche […]

Mish Talk - Round and round we go. After more than two years the UK and EU are still debating Brexit breakup fees. On March 29, 2017, the UK filed Article 50, triggering an exit process from the EU, but the UK is still trapped. Theresa May negotiated such a poor deal that the British Parliament would not […]

June 11th, 2019 | Italy Next To Exit EU? Radio - China – US Trade Talks, US Jobs and Wages

Mish Talk - FedEx just announced deliveries 7 days a week. Amazon shoots for 30-minute drone deliveries. The Wall Street Journal reports FedEx to Deliver Packages 7 Days a Week. “Online shopping is seven days a week,” FedEx President and Chief Operating Officer Raj Subramaniam said in an interview. “So there is increasing demand from online shoppers and e-commerce […]

Mish Talk - The bookmakers give Boris a 1 in 3 shot of becoming the next PM. Focus on reality, not bookie odds. The “Stop Boris” campaign is in full swing, but it’s as likely to be as much of a success as the “Anybody But Trump” Campaign in 2016. Stop Boris Theory Boris has to beat out […]

Mish Talk - Powell gave a speech today showing his resolve to support the markets. He suggested retiring the word “unconventional”. Let’s tune into to statements Powell made today at a “Conference on Monetary Policy Strategy, Tools, and Communications Practices“. Emphasis is mine. I’d like first to say a word about recent developments involving trade negotiations and other […]

Mish Talk - Gold put in a strong performance today with the St. Louis Fed president presenting a case for cutting rates. St. Louis Fed president James Bullard helped light a fire under gold today, Yapping About Too Little Inflation and the Need for Rate Cuts. Technically speaking, the $1350 to $1370 area has been one tough nut for […]

Mish Talk - A headline in the Wall Street Journal caught my eye today. It claims China is willing to talk with Trump. Please consider China Signals It Is Willing to Return to Trade Talks With U.S. A government policy paper on trade issues with the U.S. released Sunday accused Washington of scuttling the negotiations, which broke down in […] Radio - China threatens to with hold rare earths from US

Mish Talk - The strength of inversions widened today. That’s a strong recession warning, but it is not the actual recession signal. Inversions Widen Today’s bond market action is a strong follow-through on Friday’s action. Imminent Signal The recession imminent signal is not the inversion but a sudden steepening of the curve following a period of inversion. A […]

Mish Talk - The national average rent price is $1,436. The pace of rent increases is the lowest in nearly a year. The Rent Cafe reports the Average Rent Reaches $1,436 in April. Key Points The national average rent reached $1,436 in April 2019, up by 3% ($42) year over year, and by 0.3% ($5) month over month, the […]

Mish Talk - Tesla so badly needs cash that Musk will personally review and sign every tenth payment. The CFO will look at them all. On May 13, in Tesla Can’t Spare a Dime, the Wall Street Journal commented “Elon Musk’s electric-vehicle pioneer is running out of cash and out of time, even after a recent capital increase.” The […]

Mish Talk - The consensus expected import prices to rise by 0.7% and exports by 0.5%. Instead, both prices rose by 0.2%. Missed by a Mile ​ The BLS report on Import and Export Prices for April 2019 has some interesting details, specifically bad for US farmers. First let’s look at the overall numbers. Import Prices ​ Import Price Synopsis […]

Mish Talk - After a brief respite, the yield curve is again flashing a bright recession signal. The curve is inverted in 28 places. Automatic Pilot Spotlight Let’s flashback to Fed Chair Jerome Powell’s statements following the December 19 FOMC meeting. Powell was asked about the Fed’s balance sheet and quantitative tightening. We thought carefully about how to normalize […]

Mish Talk - Economist Judy Shelton, a Trump economic advisor and a gold standard advocate is rumored to be Trump’s next Fed pick. Bloomberg reports White House Considers Economist Judy Shelton for Fed Board The White House is considering conservative economist Judy Shelton to fill one of the two vacancies on the Federal Reserve Board of Governors that President […]

Mish Talk - US Sec. of State Mike Pompeo warns the UK about 5G wireless. Pompeo threatens to end defense cooperation with the UK. Via the Guardian Live Blog, Pompeo warns the UK that Huawei 5G role could put defense cooperation with US at risk. Here are the main points from the press conference given by Mike Pompeo, the […]

Mish Talk - In what’s likely to be some sort of marketing ploy, a condo development in Miami is making preparations for flying cars. This George Jetson story is so absurd that I would have guessed Elon Musk or Trump was behind it. Nope. Here’s an announcement that’s safe to mock Flying cars haven’t landed yet, but this $600 […]

Mish Talk - China lowered the official limit on US dollar withdrawals from $5,000 to $3,000. One woman could not get a mere $200. Crackdown on Withdrawals The South China Morning Post reports Chinese Banks Quietly Lower Daily Limit on Foreign-Currency Cash Withdrawals. The issue was thrust into the spotlight on Friday when a viral video clip showed a […]

Mish Talk - Analysts are questioning Uber’s viability. Many are concerned it will never make a profit. There’s too much competition. Grandiose Plans Uber wants to become the Amazon of everything transportation related. But a key question remains: Can Uber Ever Make a Profit? In Uber’s vision of the future, most people won’t own cars. Riders will hop on […]

Mish Talk - Supply of luxury $2.0 million homes is up four consecutive quarters but sales are down 16%, the most since 2010. In the luxury home market there is a mad dash for the exit. However, buyers are holding their noses as Luxury Home Sales See Biggest Slump in Nearly a Decade. Sales of homes listed at $2 […]

Mish Talk - Although less than half of the UK wants to stay in the EU, there is still no majority for any particular outcome. ​ The latest polls show Less than half of Britons would back staying in EU. However, there is still no majority for anything. The Eurobarometer survey on public opinion found that 45 percent of […]

Mish Talk - Once again we have another seemingly hot economic report with the bond market giving a big yawn. The Advance Durable Goods report on shipments, new orders, and inventories lifted what had been a stagnating view of US manufacturing. New Orders New orders for manufactured durable goods in March increased $6.8 billion or 2.7 percent to $258.5 billion, […]
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