The buyback blackout is intensifying as about 350 S&P 500 companies are now on pause, per Goldman

The supply of new homes in the US moved up to 9.8 months in May, highest since 2022. Prior to 2022, when supply was this high the US economy was always in recession & facing job losses. Today, the supply spike (thus far) is due to the least affordable housing market in history.

There are now over 500k new homes for sale in the US, the most since November 2007.

We saw quite a big build in durable orders during May, which came in at 16.4% vs a forecast of just 8.5%