For the Treasury market, Powell’s speech was a nothingburger. A Sep rate cut has been priced in since the Aug 2 jobs report. By Wolf Richter for WOLF STREET. Powell re-confirmed at his Jackson Hole speech on Friday […]
Sales of new houses jumped, fueled by lower prices, big incentives, and mortgage-rate buydowns. Homebuilders are taking share from homeowners. By Wolf Richter for WOLF STREET. Inventory of new completed houses jumped to 99,000 houses in July, the […]
Last week, both Atlantic and Pacific rates experienced a decline. “Spark30s Atlantic rates experienced a second week-on-week decrease, falling by $8,250 to $61,500 per day,” Qasim Afghan, Spark’s commercial analyst told LNG Prime on Friday. He said this […]
By Wolf Richter for WOLF STREET. Despite the drop in mortgage rates – to 6.5% in the latest reporting week – and the surge in inventories as vacant homes for sale are coming out of the woodwork, sales […]
The Chinese steel industry is going through a “winter”, according to the head of the world’s largest steel producer, with analysts warning the sector – vital for capesize owners – faces prolonged decline. Steel production […]
By Wolf Richter for WOLF STREET. Mortgage rates dropped to 6.50%, the lowest since May 2023, according to the Mortgage Bankers Association today. But instead of re-igniting demand for homes from buyers who need mortgages, these dropping rates […]
Uinta assets could be valued at as much as $2 billion in sale Value of oil and gas deals has roughly doubled this year Ovintiv Inc. is considering a possible sale of its operations in the […]
Carmaker cancels fully electric three-row utility vehicle Spending on EVs will drop to about 30% of capex, from 40% Ford Motor Co. is recalibrating its electrification strategy yet again, canceling plans for a fully electric sport […]
173,500 payroll jobs added on average per month in 12 months, instead of 242,000, but above 2018-2019 average of 171,900: preliminary annual benchmark revisions. By Wolf Richter for WOLF STREET. The Bureau of Labor Statistics today released its […]
Daily Standup Top Stories China’s Coal Production Surges to Meet Energy Demands August 20, 2024 Mariel Alumit China’s coal production reached a new record high in July, surpassing the previous record set in 2023. Thermal power […]
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