Consumer Sentiment

UMich Confidence Shows Partisan Divide Widest Ever But All Agree It's Time To Sell Your House

UMich confidence is stable at its post-Trump plateau for now, but the partisan divide between Republicans (robust economic growth ahead) and Democrats (recession looms) has never been wider. However, one thing they all agree on is that for the first time since the peak of the housing market in 2006, home-buyers are negative on home prices with home-sellers most dominant since 2005.

Global Rally Fizzles After "OPEC Shock" In "Slow Risk-Off Session"

S&P futures were fractionally lower from yesterday's record high as European stocks declined and Asian stocks were mixed, pressured by yesterday's 5% plunge in crude after OPEC unexpectedly "failed to surprise" markets, and announced the bare minimum supply cut extension that was expected by oil traders, who in turn puked long positions.

Existing Home Sales Slump As Prices Soar To Record Highs

Following yesterday's collapse in new home sales, NAR reports that existing home sales in April also disappointed - dropping 2.3% (and March revised lower). This drop happens as median home prices spiked 6.0% YoY to record highs as sales declines are blamed once again on a lack of supply (forget affordability?).

GoldCore's picture

The uncertain political climate in the UK and the United States is  weighing on the dollar and sterling. Concerns over U.S. political turmoil and the complete mess that is the current U.S. political situation will lead to continuing demand for safe haven gold.

Key Events In The Coming Week: FOMC Minutes, GDP, BOC, OPEC And More

The key economic releases this week are the durable goods report and Q1 GDP revision on Friday. The minutes of the May FOMC statement will be released on Wednesday at 2PM. In addition, there are several scheduled speaking engagements by Fed officials this week

Bill Blain: "My Prediction Is That Around October 12 Markets Will Get Horribly Interesting"

"There are just too many contradictory currents out there. The unsustainability of burgeoning consumer debt, unfeasibly tight credit spreads, the sandcastle foundations of student loans, autos, housing and the CLO market, China, Trump, politics.. worries about what follows Brazil in the EM market, and whatever... The risks of a massive consumer sentiment dump."

The Housing Moment Investors Dread Is Here

...Yes, it’s the moment buyers have been waiting for. It is also the moment private equity investors, those who’ve crowded out natural buyers, have been dreading.

New Theory Behind Stalled Economy: Retirees Are Hoarding Too Much Cash

For years we've written about the fact that Americans, young to old, are lousy savers. That said, we were somewhat shocked to come across a report from money manager United Income which effectively argues that American retirees are saving too much money rather than too little.  So which is it?

UMich Confidence Ticks Up As Inflation Expectations Slump To Record Lows

Preliminary May data from University of Michigan shows a small uptick in overall consumer sentiment (from 97.0 to 97.7), back near cycle highs with 'expectations' rising modestly. However, Americans see medium-term expectations for inflation as the weakest on record... and Buying plans, however, were mixed: household durables rose to a decade peak, while vehicle buying conditions slipped to a three year low.

Markets All Too Quiet Ahead Of Inflation, Retail Sales Data

Asian stocks and S&P futures are both feeling the weather this morning, while European stocks are little changed as traders have decided to hold back until today's key US CPI and retail sales data is released in under two hours.

Household Spending Growth Expectations Crash To Cycle Lows

Despite record high stock prices, soaring consumer sentiment measures, and the constant Fed-spun narrative that incomes will rise amid 'full-employment', the latest survey of Americans by The New York Fed signals hope is collapsing for a spending renaissance...

Key Events In The Coming Week: Inflation, Spending In The Spotlight

With the French election now finally in the rearview mirror, this week's focus is on global inflation releases, with the spotlight falling on the US and China. We also have BoE and RBNZ rates meetings. In other data we note industrial production in the Eurozone, UK and Norway along with US retail sales and Fed speakers.