US Pending Home Sales Tank -9.5% YoY As Citi Economic Surprise Index Declines

US pending home sales tanked -9.5% YoY in July. Unexpected? Not with the Citi Economic Surprise declining below zero.

The northeast PHS fell -6.6% MoM while the midwest fell -3.3% MoM in July.

Here is a video demonstrating The Fed’s rollout of balance sheet reductions and rate increases.