New Building Permits reported this morning at a decline of 5%, and Housing Starts are lower by 1.6%, both compared to last month’s issuance. That means that fewer new homes will be available 3-6 months hence.
Interest rates in Russia have risen from 10.5% yesterday to 17% today and their currency in plummeting. In the land of the free however, interest rates are poised to take a dive lower if they can break through the ceiling of resistance. Treasury Bonds are getting most of the “flight to safety” dollars (and rubles, etc.) as Russia melts down