Housing Starts, Permits Rebound In June Despite Tumble In HomeBuilder Confidence

After a pitiful drop in May, building permits rebounded galantly in June (+7.4% MoM - the most since Nov 2015) and following three straight monthly declines, housing starts rose 8.3% MoM in June - the biggest jump since Dec 2016. All of which is odd, since the NAHB just printed at 8-month lows with homebuilders citing "lumber costs" as causing them to cut supply?

Frontrunning: July 19

  • Republicans consider bipartisan healthcare talks (Reuters)
  • Health Care Collapse Could Leave Trump Winless in His First Year (BBG)
  • Republicans to Push Ahead on Repeal of Affordable Care Act (WSJ)
  • Obscure Coal CEO Rains Money on Trump While Outflanking Rivals (BBG)
  • GOP Tries to Regroup on Obamacare Repeal as Trump Lashes Out (BBG)

Global Stocks Hit Record High, Set For Longest Winning Streak Since 2015

With the USD just off 10-month lows, there continues to be an easing of loosening of financial conditions for emerging markets which also supports equities. After decent gains in Asia on the back of positive signs from China this week, MSCI's world stocks index looked set for a ninth day of gains which would mark its longest winning streak since October 2015.

Qatar, Saudi Arabia To Islamize One Of Europe's Greatest Cathedrals

In Islamic symbolism, Córdoba is the lost Caliphate. Political authorities in Córdoba dealt a blow to the Catholic Church's claim of ownership of cathedral by declaring that "religious consecration is not the way to acquire property". The Catholic Church has taken a position. As the Bishop of Córdoba, Demetrio Fernandez, said, "sharing the space with Muslims would be like a man sharing his wife with another man".

Visualizing "Things To Come" - A Timeline Of Future Technology

Making predictions about future technology is both fun and notoriously difficult, since failing to adapt to changing industry paradigms can completely decimate a business venture, turning it into the next Blockbuster, Kodak, or Sears...

Why People Love And Hate Trump

Trump's low approval ratings are being driven by his unconventional style and non-normative pattern of White House behaviour rather than his actual policies and views.