Bonddad - hooray, sort of, for new home sales. He notes the numbers do tend to get severely revised later. But still, here's the interpretation from someone who actually fucking knows the business cycle and doesn't dwell on fucking semi book-to-bill bullshit:
As you probably already know, April new home sales blew out to the upside, making a new 8 year high at 619,000 annualized. *If this holds up,* it is very important positive economic news, since new home sales tend to peak even before housing permits, so much so that they are more of a mid-cycle indicator than a long leading indicator! In fact, it would be the single most positive news of the year to date.Thus the market goes up.
Calculated Risk - chem barometer increased in May. Another input to the US economy showing strength.
Tim Duy the Finance Guy - more on the Fed raising rates. And yet, Tim, one month of economic news will change the story entirely. That's what happens when the inflation target is set at the top of the noisefloor.
Reuters - "Darkies oot" campaign maintains lead in UK. By the way... since we know Cameron is against leaving the EU, we can assume that a successful leave vote won't mean the UK leaving the EU. As a Canadian, I'm familiar with bullshit spineless separatist populism, and so I predict a successful leave vote will simply be followed by Cameron offering to negotiate a "new deal with Europe that's fairer to UK interests and also keeps the fucking darkies out".
Reuters - IMF, EU, Greece reach debt deal. Hm... wasn't it leaked a month ago that the Germans were going to try to precipitate a crisis in the EZ by sabotaging the debt deal come July? Maybe they're scared of an imminent depressionary shock due to the coming Brexit vote?
Reuters - new Fed survey lays bare economic divide. Half of Americans can't pay an unexpected $400 bill. By the way, things end up this way because right-wing economists refuse to recognize the existence of the entire demand side of the economy. Because demand side management is Keynesian, and therefore sociamalist. Enjoy your eternal economic depression, fucktards.