Detroit

'Vice' Index Shows U.S. Slowdown Ahead

"...add it all up and conditions are set for slower spending growth... It’s already showing up in the luxury spending we call vices... like in Gambling & Prostitution"

Case-Shiller Home Price Growth Slows As San Francisco Bubble Continues To Deflate

Amid a slew of mixed housing data (weak starts, permits; rebound in existing sales at record median prices), S&P CoreLogic Case-Shiller reports that home price growth slowed to just 0.28% MoM (the weakest since Aug 2016), considerably worse than the average seasonal slowdown. Home prices fell from the prior month in Cleveland, Boston, San Francisco, Washington, and Tampa, Florida. Year-over-year gains also slowed to just 5.67%, missing expectations. 

Frontrunning: June 19

  • UK PM May says attack on Muslims near mosque is 'sickening' (Reuters)
  • Macron Under Pressure to Deliver as French Turnout Plummets (BBG)
  • Market Volatility Has Vanished Around the World (WSJ)
  • Real victory will be in 5 years, says Macron camp after election win (Reuters)
  • Brexit Talks Kick Off in Brussels as May Urged to Soften Stance (BBG)