Archive for June, 2008
Wednesday, June 25th, 2008
U.S. durable goods orders, new home sales, and the
Department of Energy's weekly oil inventories are the highlights of the
early morning's events, but all data of the day will be eclipsed by the
FOMC's rate decision at 2:15 p.m. EDT.
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Wednesday, June 25th, 2008
Durable goods excluding transportation fell by 0.9%
in May in the U.S. durable goods report on Wednesday, according to the
Department of Commerce. Economists were expecting a 1.0% monthly decline
following April's downwardly revised 1.9% increase.
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Wednesday, June 25th, 2008
Weekly mortgage applications in the United States
fell further in the week ending June 20, according to data from the
Mortgage Bankers' Association (MBA) on Wednesday, which reported that
applications fell by 9.3% week-over-week.
In the previous week, applications fell by a revised 8.7%.
The average loan size was...
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Tuesday, June 24th, 2008
Speaking in London at Euromoney's Global Borrowers Investors Forum
2008, Assistant Secretary of the Treasury for Financial Markets, Anthony
Ryan said the financial system needs to become robust enough to
allow for bank failures...
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Tuesday, June 24th, 2008
The Conference Board's consumer confidence index for
June tumbled to levels not seen since 1992 at 50.4 in Tuesday's report,
led by a near 10-point decline in the present situation component.
Economists were looking for a moderate decline to 56.0.
The previous month's reading of 57.2 was revised upwards to 58.1. ...
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Tuesday, June 24th, 2008
U.S. house prices fell 0.8% month-over-month in April
following March's revised 0.6% decline, the Office of Federal Housing
Enterprise Oversight (OFHEO) reported Tuesday.
The consensus had been looking for a 0.4% month-over-month pullback in
April.
Leading the decline was a 2.0% month-over-month fall in the Pacific
region, followed by a...
...
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Tuesday, June 24th, 2008
Not a single contrarian voice exists among the 101 economists surveyed
by Bloomberg for Wednesday's U.S. rate announcement from the Federal Open
Market Committee. All agree that the Fed will hold rates at 2.00%
, which means the focus will turn towards the accompanying
statement to look for insight as to ...
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Tuesday, June 24th, 2008
Speaking via satellite to a conference in Johannesburg, Former Fed
Chairman Alan Greenspan said the financial market crisis
will continue for some time, and could last well into
2009.
The data implies the U.S. economy is on the brink of recession, said
Greenspan, citing forecasts for very sluggish growth over the ...
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Tuesday, June 24th, 2008
In an interview with a Mexican television station, U.S. Treasury
Secretary Henry Paulson said the biggest challenge
facing the U.S. economy is an ailing housing sector,
which he hopes will recover by the end of the year.
Paulson stressed that economic fundamentals in the United State,
nevertheless, remained strong, adding ...
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Tuesday, June 24th, 2008
The S&P Case-Shiller home price index continued to
deteriorate in April as the 20-city composite index posted a record
annual decline of 15.3%. The Case-Shiller index has
fallen every month since peaking in July 2006.
The month-to-month decline in home prices was 1.36%, compared to the
2.17% loss in the previous ...
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