Top Economic Story So Far This Week -- And It's Only Tuesday -- August 18, 2020

Re-posting:

Homebuilder sentiment: jumps to record high. Highest in 35-year history; matches record set in 1998. 

Builder confidence in the newly built, single-family home market jumped 6 points to 78 in August on the National Association of Home Builders/Wells Fargo Housing Market Index. Anything above 50 is considered positive sentiment.

The index is now at the highest level in the 35-year history of the monthly series and matches the record set in December 1998. Builder sentiment plunged to 30 in April, when the coronavirus pandemic shut down the U.S. economy, but it recovered quickly as consumers suddenly sought more space in less urban areas.

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Miscellaneous

Air travel: in June, 70% said flying was somewhat or very unsafe.

Escape from NYC: snowball turning into a boulder -- Fox's Charles Payne (a "snowball" analogy in the middle of a heat wave less than clever) 

Gin sale: Ryan Reynolds' Aviation gin sells to Diageo for $610 million. Aviation gin known for sharing profits with military. Diageo also bought George Clooney's tequila brand Casamigos in 2017. I've long since followed Diageo but it's a giant, owning spirits like Johnnie Walker and Smirnoff.

Gin's global renaissance has taken off in the states in recent years. I went though my martini phase a couple of years ago, and Aviation gin was one I favored, for various reasons. For the record, I no longer drink martinis.

Coronavirus: Chicago's "$66-million coronavirus hospital" treated only 38 patients. 

Cornavius vaccine: will be available long after Covid-19 is a thing. Expect to see widespread availability of the vaccine no sooner than late 2021. Barron's.  

Calpers: California state panel to investigate complaints of investment conflict. Well, duh. The WSJ.

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Best Time Of The Year For Me

Kids back in school. Sort of "back to school" this year. But they are not at the swimming pool during the day. I generally have the entire pool to myself when I go out there at 10:00 a.m. I try to get in three two-hour sessions every day. I'm not in the pool actually swimming all that times, but enjoy reading poolside when not swimming.  10:00 to noon, for sure. 4:00 to 6:00 (often with Sophia). 8:00 to 10:00. Generally I only get in three hours total but the goal is six.  Some days I only get two sessions. The season will end soon. 

I can't blog at the pool or do much surfing on the net. The manager's business office, which has free wi-fi, barely reaches to the far side of the pool where I like to hang out, and is very, very, very slow.

I'll finish Out of Africa this week. Not sure what I'll go to next.