Money & Economics
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US Existing Home Sales Disappoint (Again) In July, Hover Near Record Lows
US Existing Home Sales Disappoint (Again) In July, Hover Near Record Lows<!-- --> | ZeroHedge
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US jobs numbers have now been revised lower in 21 out of the last 30 months by a total of -1.05 million jobs.
This means an average of -35,067 jobs have been revised out of previously reported data each month over this period.
June and May jobs numbers alone were revised down by a total of -103,000, the largest 2-month downward revision since July 2025.
This comes as June jobs were revised down by -37,000, to +20,000, while May jobs were revised down by -66,000, to +63,000.
The May jobs figure was revised down for the 2nd time, following a -43,000 downward revision last month from the initially reported +172,000 jobs.
If these revisions continue, June jobs could be revised into negative territory next month, which, combined with July's already reported -23,000 job loss, would mark the 2nd consecutive monthly decline in jobs, the first such occurrence since the 2020 pandemic.
Job market revisions are alarming.
This means an average of -35,067 jobs have been revised out of previously reported data each month over this period.
June and May jobs numbers alone were revised down by a total of -103,000, the largest 2-month downward revision since July 2025.
This comes as June jobs were revised down by -37,000, to +20,000, while May jobs were revised down by -66,000, to +63,000.
The May jobs figure was revised down for the 2nd time, following a -43,000 downward revision last month from the initially reported +172,000 jobs.
If these revisions continue, June jobs could be revised into negative territory next month, which, combined with July's already reported -23,000 job loss, would mark the 2nd consecutive monthly decline in jobs, the first such occurrence since the 2020 pandemic.
Job market revisions are alarming.
I suspect that things like this aren't very good for the economy. Or is it just pocket change in the big picture?
US Pays German Company $1.22 Billion to Cancel Wind Leases
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July 2026 US Budget deficit: $431 B$.
Compared to $291 B$ July 2025.
A 48% increase.
Compared to $291 B$ July 2025.
A 48% increase.
Would take Congress to pass the law first… and it would encourage selling assets. Stonks, houses …
Of course if you’re a sitting President who made over $1 Billion on a fraudulent digital coin and owed Cap Gains on it….
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Great if you want to conceal your identity/ownership…
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CPI numbers due out today at 8:30
This may be one of the most heavily watched CPI reports in many years. Team Trump has a lot riding on it.
Because of this, expect heavily manipulated garbage data and a slight drop in CPI and overall inflation. Lying is all they have left.
-Hotter than expected CPI: Stagflation risk, bond yields explode, equities sharply correct, precious metals continue higher.
-Cooler than expected CPI: Rate cuts on the table, bond yields slightly retract, S&P goes for ATH
What do you think they’ll report?
This may be one of the most heavily watched CPI reports in many years. Team Trump has a lot riding on it.
Because of this, expect heavily manipulated garbage data and a slight drop in CPI and overall inflation. Lying is all they have left.
-Hotter than expected CPI: Stagflation risk, bond yields explode, equities sharply correct, precious metals continue higher.
-Cooler than expected CPI: Rate cuts on the table, bond yields slightly retract, S&P goes for ATH
What do you think they’ll report?
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Drumroll...
Previous: 3.5%.
Forecast: 3.4%.
ABOVE 3.4%: rate cut hopes die. Longs get punished.
BELOW 3.4%: liquidity comes back. Shorts get hunted.
EXACTLY 3.4%: maximum chop. Both sides bleed.
=======================
AAAAANNNNNNDDDD
U.S. inflation rises slightly in July. Fed rate hike still no sure thing.
By
Jeffry Bartash
A critical measure of inflation rose again in July after no change in the prior month, keeping alive the chances of the Federal Reserve raising interest rates soon to get prices back under control.
The consumer price index rose a scant 0.1% in July, the government said Wednesday, and matched Wall Street’s forecast.
The bigger story was a 0.2% increase in the so-called core rate of inflation, the measure the Fed prefers to try to project future price trends.
The rise in core inflation last month probably is not enough to guarantee a Fed rate hike at its next big meeting in September, economists say, but it will keep the central bank on high alert.
The consumer price index has risen at a troubling 3.4% pace in the past 12 months. Just a little over a year ago the yearly rate was only 2.3%
The core rate is less worrisome but far from ideal. The 12-month increase slowed to 2.5% in July from 2.6% in the prior month to match the lowest level since 2021.
Even so, inflation is still running well above the Fed’s 2% target, and that’s been the case for almost six years. Fed officials don’t think they will hit their 2% goal until 2028.
Two weeks ago, the Fed voted 9-3 to leave its benchmark short-term interest rate unchanged. The cost of credit cards, home mortgages and other loans are influenced by the rate set by the central bank.
The majority of Fed officials wanted to wait for more evidence to see if inflation was going to slow. Oil prices have come off recent highs and the effects of last year’s Trump tariffs have partially faded.
The latest CPI is unlikely to make their decision clear cut.
The dissenters, for their part, worry inflation could get worse unless the Fed acts now by raising interest rates.
The Fed will get to see several more key inflation reports before its next vote on interest rates at a meeting in mid-September. The most critical is the so-called PCE price index, the main gauge the Fed uses to track inflation.
The core PCE index rose at an even hotter 3.3% yearly rate in the 12 months ended in June. The next report for July comes out in two weeks.
Previous: 3.5%.
Forecast: 3.4%.
ABOVE 3.4%: rate cut hopes die. Longs get punished.
BELOW 3.4%: liquidity comes back. Shorts get hunted.
EXACTLY 3.4%: maximum chop. Both sides bleed.
=======================
AAAAANNNNNNDDDD
U.S. inflation rises slightly in July. Fed rate hike still no sure thing.
By
Jeffry Bartash
A critical measure of inflation rose again in July after no change in the prior month, keeping alive the chances of the Federal Reserve raising interest rates soon to get prices back under control.
The consumer price index rose a scant 0.1% in July, the government said Wednesday, and matched Wall Street’s forecast.
The bigger story was a 0.2% increase in the so-called core rate of inflation, the measure the Fed prefers to try to project future price trends.
The rise in core inflation last month probably is not enough to guarantee a Fed rate hike at its next big meeting in September, economists say, but it will keep the central bank on high alert.
The consumer price index has risen at a troubling 3.4% pace in the past 12 months. Just a little over a year ago the yearly rate was only 2.3%
The core rate is less worrisome but far from ideal. The 12-month increase slowed to 2.5% in July from 2.6% in the prior month to match the lowest level since 2021.
Even so, inflation is still running well above the Fed’s 2% target, and that’s been the case for almost six years. Fed officials don’t think they will hit their 2% goal until 2028.
Two weeks ago, the Fed voted 9-3 to leave its benchmark short-term interest rate unchanged. The cost of credit cards, home mortgages and other loans are influenced by the rate set by the central bank.
The majority of Fed officials wanted to wait for more evidence to see if inflation was going to slow. Oil prices have come off recent highs and the effects of last year’s Trump tariffs have partially faded.
The latest CPI is unlikely to make their decision clear cut.
The dissenters, for their part, worry inflation could get worse unless the Fed acts now by raising interest rates.
The Fed will get to see several more key inflation reports before its next vote on interest rates at a meeting in mid-September. The most critical is the so-called PCE price index, the main gauge the Fed uses to track inflation.
The core PCE index rose at an even hotter 3.3% yearly rate in the 12 months ended in June. The next report for July comes out in two weeks.
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