Commercial Real Estate

Global Stocks Rebound From Overnight Lows, On Edge Ahead Of Trump-Xi Meeting

S&P futures are little changed at 6am ET, trading at 2347.55 and paring an earlier 0.4 percent drop, on the back of the USDJPY ramp which for the second day in a row has emerged alongside the European open, soothing concerns about the Fed's balance sheet reduction and "some" Fed officials warning that stocks have gotten expensive. While Asian stocks fall in early trading, European bourses rebounded from session lows alongside the S&P and USDJPY.

FOMC Minutes: Balance Sheet To Shrink This Year; Some Saw Stock Prices As "Quite High"

Two key messages in today's Fed minutes: i) the Fed hopes to begin reducing its balance sheet this year and  ii) some Fed members are worried that stocks are in a bubble. And then the following surprising admission: the Fed explicitly warns of "downside risks" to its forecasts if "financial markets were to experience a significant correction."

This Economy Is Ruined For Many Americans

In the dazzling glitter and excitement of soaring asset prices that central banks around the world, and particularly the Fed, have tried so hard to engineer, it’s easy to forget that not everyone has those assets, that a lot of people can’t get “rich” just sitting on inflated assets, that they have to work long hours in measly jobs just to stay one paycheck ahead of hunger and homelessness.

Are Markets Overlooking A Clear & Present Danger?

Economic cycles do not last indefinitely. While fiscal and monetary policies can extend cycles by “pulling forward” future consumption, such actions create an eventual “void” that cannot be filled. In fact, there is mounting evidence the “event horizon” may have been reached as seen through the lens of auto sales.

rcwhalen's picture

Quantitative Deflation

As the inexorable logic of base-ten arithmetic asserts itself once again, the rats will clamber onto the pieces of floating wreckage with the best view.

A Bad Week (And Getting Badder Bigly Fast)

"...looks a bit as though the Golden Golem of Re-Greatification has wandered into a political minefield so dense with booby traps that he’s already out of moves."

Mega-Bears Smell Blood As Mall REITs Tumble

"There has been a steady drumbeat of negative reports from anchor retailers in the mall. As a result, when we keep hearing bad news it adds to the impression that there is a problem in the malls.”

Manhattan Retail Vacancies Soar

"Retailers are experiencing painful adjustments right now, there’s no doubt about it.  There is just too much space coming to the market at the same time, and owners are all vying for the same retailers."