The American housing market remains in the doldrums, with an annualised sales rate of 4.07 million units in July 2023, the lowest level since January and below market expectations of 4.15 million. But more measures 'improved' including for new orders, even if the 'improvement' is just a lesser decline in this region. Many depositors have "shifted their funds into higher-interest-bearing accounts, increasing banks’ funding costs," S&P wrote in a note summarising the moves. South in Panama, they have a persistent drought, and it is one that in affecting ships in the Panama Canal. That will have a significant impact on trade and freight rates you would assume.

Source: New Zealand Herald August 23, 2023 07:23 UTC