U.S. Pending Home Sales Unexpectedly Tumble To Six-Month Low
rttnews·- The National Association of Realtors reported that pending home sales in the United States unexpectedly fell by 2.3% in July to 71.2, reaching a six-month low. - This decline follows a downwardly revised 4.8% drop in June to 72.9. - Economists had previously anticipated a rebound with a 1.4% increase instead of the further contraction.U.S. national debt about to reach bleak $40 trillion milestone - and it's likely hit $50 trillion soon
MarketWatch·- The U.S. national debt is approaching $ 40 trillion, with Bank of America strategist Michael Hartnett predicting it will reach $ 50 trillion by July 2029. - Annual interest servicing costs have reached $ 1.5 trillion, reinforcing market sentiment against fixed-income investments and driving investor preference for equities. - Hartnett recommends long-duration assets, gold, and emerging markets while advising caution regarding potential risks in AI stocks and bond yields.Investors favor ‘anything but bonds’ as Treasuries struggle - BofAf
MSN·- Investors increasingly favored assets outside bonds due to elevated Treasury yields weighing on long-duration government debt. - This trend reinforced Bank of America’s "Anything But Bonds" investment thesis. - The strategy remained a core asset-allocation conviction for the 2020s alongside other global allocations.