Archive for April, 2009
Thursday, April 23rd, 2009
The drop in U.S. existing home sales in March indicates that the housing market is far from a bottom, economists say. Sales dropped more than forecast by 3.0% against a surprise 4.9% surge in February. Dimitry Fleming, an economist at ING, said Thursday's...(read more)
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Thursday, April 23rd, 2009
Despite an expected rise in weekly U.S. initial jobless claims, some economists are encouraged by a continued drop in the four-week average of claims, which they say could suggest the end of the recession. Others say seasonal factors are continuing to...(read more)
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Thursday, April 23rd, 2009
The U.S. housing market delivered bad news on Thursday, with existing home sales falling well below expectations in March and a downward revision to February's increase. Existing home sales contracted 3.0% in March against expectations for a 1.5%...(read more)
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Thursday, April 23rd, 2009
Score one for transparency. Time was that bamboo shoots under the fingernails couldn't get Freddie or Fannie to fess up that they owned this mortgage or that one. As a representative of a government regulatory agency I once fought with a Freddie Mac...(read more)
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Wednesday, April 22nd, 2009
House prices unexpectedly rose in February, according to a report from the Federal Housing and Finance Administration on Wednesday. The report showed a 0.7% month-over-month increase in U.S. house prices, following a downwardly revised 1.0% increase in...(read more)
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Wednesday, April 22nd, 2009
U.S. Treasury Secretary Timothy Geithner said Wednesday that the U.S. bears the brunt of responsibility for causing the financial crisis, and that the country's economy needs to recover in order for the rest of the global economy to bounce back. Speaking...(read more)
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Wednesday, April 22nd, 2009
The UK's budget, comments from Treasury Secretary Tim Geithner , and a bout of major earnings in the United States on Wednesday top the bill for the day's main economic events. At 7:30 a.m. EDT, UK Chancellor of the Exchequer Alistair Darling...(read more)
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Tuesday, April 21st, 2009
The majority of U.S. banks have more capital than they need, Treasury Secretary Timothy Geithner said before the TARP's Congressional Oversight Panel on Tuesday. Uncertainties surrounding the banking system have caused banks to withhold loans, the...(read more)
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Tuesday, April 21st, 2009
Global losses from the credit crisis could exceed $4.1 trillion by the end of 2010, according to a report from the International Monetary Fund (IMF) released on Tuesday morning. The IMF raised its projection for $1.4 trillion in credit losses from U.S...(read more)
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Monday, April 20th, 2009
The Bank of Canada will hold its monetary policy meeting on Tuesday, and economists are mixed over whether the central bank will cut rates or introduce quantitative easing measures. However, most agree forecasts for economic growth will be downgraded...(read more)
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