Wells Fargo Reports The Worst Mortgage Number Since The Financial Crisis

wells fargo stock
From Tyler Durden: When we reported Wells Fargo's Q3 earnings back in October, we drew readers' attention to one specific line of business, the one we have repeatedly dubbed the bank's "bread and butter", namely mortgage lending, and which as we then reported was "the biggest alarm" because "as a result of rising rates, Wells' residential mortgage applications and pipelines both tumbled, sliding just shy of the post-crisis lows recorded in late 2013."
NYSE:XHB January 15, 2019 4:01pm

S&P 500 is Less Than 1% From A Bear Market

Bear Market
From Tyler Durden: The longest bull market in history - as measured by the S&P 500 - is now less than 1% from ending, with the drawdown from the Sept 21 highs now just above 19%...2352.7 is the magic number.
NYSE:SPY December 24, 2018 1:12pm

VIX should be much higher, says Goldman Sachs

vix
From Tyler Durden: In a surprisingly candid note out of derivatives strategist Rocky Fishman, the Goldman analyst - whose employer has a base case 2019 price target of 3,000 for the S&P - notes that in light of recent market performance, the current VIX, which is trading just around 25, is "unusually low" for the 14% selloff the S&P has suffered from its Sept 20 high.
NYSE:VXX December 20, 2018 4:23pm

Existing Home Sales Tumble 7%, Largest Plunge Since 2011

reit investments
From Tyler Durden: Pending and New home sales both tumbled in October, but existing home sales managed a modest SAAR bounce; and while expectations were for some give-back in November, existing home sales managed an upside surprise - rising 1.9% MoM. However, that is the end of the good news.
NYSE:XHB December 19, 2018 2:43pm

Even the Bears Expect a Market Rally

s&p 500
From Tyler Durden: What was once supposed to be a year-end Santa rally has turned into the second-worst December on record for stocks. In fact, the plunge in stocks has been so dramatic it has taken even the bears by surprise, and as a result, even some of the biggest skeptics are calling for a rebound.
NYSE:SPY

Home builder confidence hits 3.5 year low

Housing Sector
From Tyler Durden: Upton Sinclair once noted: "It is difficult to get a man to understand something, when his salary depends on his not understanding it."
BATS:ITB December 17, 2018 11:53am

US Retail Sales Surge In November, As A Result Of A Jump In Online Spending

retail stocks
From Tyler Durden: With inflation 'disappointing', hope for the recovery was left on the shoulders of the American consumer once again and Retail Sales offered some optimism with better-than-expected (and upwardly revised) MoM gains.
NYSE:XRT December 14, 2018 3:12pm

European Banks’ Performance Is Worst Since 2011 Crisis

money loss arrows
From Tyler Durden: As we approach the end of a dismal year for European stocks, the question is: which sector had the worst year of them all?
NASDAQ:EUFN

BKLN, Invesco Senior Loan ETF, Sees Record Outflow, Primary Market Freezes

invesco logo
From Tyler Durden: ek after even the IMF joined the chorus of warnings sounding the alarm over the unconstrained, unregulated growth of leveraged loans, and which as of November included the Fed, BIS, JPMorgan, Guggenheim, Jeff Gundlach, Howard Marks and countless others, we reported that investors had finally also joined the bandwagon and are now fleeing an ETF tracking an index of low-grade debt as credit spreads blow out and cracks appeared across virtually all credit products.
NYSE:BKLN December 7, 2018 2:14pm

Pending Home Sales Plunge To Weakest Since 2014

Housing Sector
From Tyler Durden: Hope was high for a rebound (after new-home-sales slumped), but that was dashed as pending home sales plunged 2.6% MoM in October (well below the expected 0.5% MoM bounce).
BATS:ITB November 29, 2018 12:44pm

Dollar Dumps, Gold Jumps

gold
From Tyler Durden: In a quite notable reversal of his rhetoric from a month ago, Fed Chair Powell seems to have abandoned his hawkish "long way" from neutral messaging...
NYSE:GLD November 28, 2018 12:39pm

Amazon Says Cyber Monday Sales Surged 20% To New Record

amazon logo
From Tyler Durden: Update: the National Retail Federation revealed that more than 165 million Americans shopped either in stores or online during the Thanksgiving weekend, slightly surpassing expectations. However, the number was down slightly from last year's 174 million. The NRF said that the average spend per shopper dropped to $313, compared with $335 in 2017.
NYSE:XLY November 27, 2018 2:53pm

A $500 Billion Fund Sees ‘Glorious Chaos’ Within The Credit Carnage

vanguard logo
From Tyler Durden: While recent weeks have seen a surge of doom and gloom forecasts involving the US credit market, including dire assessments that a "death spiral" in credit ETFs may have begun following the recent blowout in both investment grade and high yield spreads...
NASDAQ:VCIT

US-China Headline Sparks Overnight Stock Market Turmoil

From Tyler Durden: Demonstrating how on edge the market is over any favorable (and vice versa) developments in the ongoing US-China trade war, a couple of conflicting headlines out of China shortly before 3am ET sparked turmoil across asset classes.
NYSE:FXI

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