housing crash

Good morning, friends. Phil Rosen here. Today we're talking housing — but before we get to that, the big thing to watch today is President Joe Biden's meeting with congressional leaders. 

The cadre will look to resolve the hotly-contested debt ceiling stalemate.

Experts have cautioned that the so-called "x date" — when the country tips into a catastrophic default — could loom mere weeks away. 

Happy Friday eve, readers. Phil Rosen here. Surprising no one, the Fed raised interest rates by 25 basis points yesterday. 

That puts the Fed Funds Rate above 5% for the first time since 2007. Remember, the higher that goes, the more expensive it becomes for consumers and businesses to borrow.

It's Friday — Phil Rosen here. Before we rush into the weekend, let's check in with the slowing pace of the housing market, and what that means for the rest of the year's outlook.

One last lap before the weekend! 

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Hey there market people. Phil Rosen here. 

I spent much of yesterday parsing through pages of data on where Russian oil is heading and how much buyers are paying for barrels. 

The clearest takeaway is that the West's sanctions do in fact seem to be taking a toll as intended — Moscow's export revenues are down, but plenty of oil remains available as far as global supplies.