Happy Fridays.

Recession risk

I don’t know if you happened to catch this cool headline yesterday: “US ’Housing Recession’ Confirmed. Just Not By Prices“.

According to the The Heisenberg Report (and other official data), existing home sales in the US fell more than expected in July as “affordability concerns continued to weigh on buyer psychology”. That was a drop for the sixth straight month.

As we covered Home Depot’s recession hedge yesterday in the wake of Walmart’s bullishness, quite naturally we couldn’t refrain from dialling in ...

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