The existing home sales report for May just came out. Here’s what the figures showed …
* Existing home sales gained 2.4% to a seasonally adjusted annual rate of 4.77 million units from 4.66 million in April. That was slightly below forecasts for a reading of 4.82 million and down 3.6% from 4.95 million a year [...]
From the monthly archives:
June 2009
Click here to comment on Part One of Solving the Timing Mystery and to tell us how we can best help you in next week’s presentation of Part Two!
More than 43,000 investors registered to be on-hand as we revealed how this missing piece of the timing puzzle can help them [...]
The Treasury Department just announced how much debt it’s going to sell next week. Get a load of these figures: $61 billion in T-bills. $40 billion of 2-year T-notes. $37 billion of 5-year Notes. And $27 billion of 7-year notes. That’s good for a record $165 billion of debt, the most sold in any week [...]
President Obama’s sweeping proposal unveiled yesterday for an overhaul of the financial industry is currently missing a critical piece without which its success could be in jeopardy: It fails to provide for clear disclosure to consumers regarding the failure risk of their financial institutions.
Instead, it leaves in place a [...]
I just got done reading this story from U.S. News … it’s an interview with a financial planner. Her advice on how much to save for retirement?
“If you have children in college or in private school you might aim to save 10 percent of your income. But in the time when the kids are out [...]
Key News
* Bank of England Voted 9-0 to Continue Money-Printing Program (Bloomberg)
*UK Unemployment Rises Less Than Economists Forecast (Bloomberg)
*U.S. Consumer Prices Rose Less Than Forecast in May (Bloomberg)
The Event Agenda
The Morning Run-Down
After some whipsaw action in currencies yesterday, the currency markets, stocks, commodities and interest rates are back on path, showing more confirmation this morning [...]
Today’s jump in housing starts is deceptive. Yes, it’s a big number. And yes, it denotes an improvement. But in the context of the massive declines in housing starts that came before, it’s little more than a deadcat bounce.
Meanwhile, industrial production, a far broader measure of the economy, [...]
We just got the housing starts and permits figures for the month of May. Here’s what they showed …
* Total housing starts rose 17.2% to a seasonally adjusted annual rate of 532,000 from 454,000 in April. Building permits gained 4% to 518,000 from 498,000. Economists were expecting 485,000 starts and 508,000 permits.
* By property type, [...]
In addition to everything I just said in my latest Money and Markets column, I want to point out one more news item that just hit the wires …
U.S. credit card defaults rose to record highs in May. According to Bank of America, the company’s default rate — which measures loans that aren’t expected to [...]
Key News
*Big increases in Fed bond purchases unlikely (Reuters)
* Bank Rescue Costs EU States $5.3 Trillion, More Than German GDP (Bloomberg)
*Treasuries Gain After Japan Says It’s Confident About U.S. Debt (Bloomberg)
*Setback for eurozone recovery hopes (FT.com)
The Event Agenda
The Morning Run-Down
There has been a lot of noise driving currencies back and forth over the past four [...]
