After a modest decline last month, existing-home sales bounced back in September to their highest annual pace of the year, according to the National Association of Realtors®. All major regions except for the Midwest experienced gains in September. Total existing-home sales1, which are completed …
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Existing-Home Sales Rebound in September
The regulator of Fannie Mae (FNMA.OB) and Freddie Mac (FMCC.OB) said on Monday it was developing rules to let Americans buy homes with down payments as low as 3 percent, part of a push to boost access to credit. Mel Watt, director of the Federal Housing Finance Agency, pledged the new guidelines …
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U.S. regulator targeting lower down payments on mortgages
The regulator of Fannie Mae (FNMA.OB) and Freddie Mac (FMCC.OB) said on Monday it was developing rules to let Americans buy homes with down payments as low as 3 percent, part of a push to boost access to credit. Mel Watt, director of the Federal Housing Finance Agency, pledged the new guidelines …
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U.S. regulator targeting lower down payments on mortgages
• Lower euro helps the economy German finance minister speaking in Berlin
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Germany’s Schaeuble says weaker euro helps German exporters
The EUR/USD continues to drive towards 1.29. Disappointing US Retail sales and global economic malaise have the market convinced that the Federal Reserve will push their first rate hike further down 2015. Based on Chair Yellen’s first post FOMC press conference the market was expecting the first…
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Central Banks in View After China Growth Surprise Fails to Lift Markets
The EUR/USD continues to drive towards 1.29. Disappointing US Retail sales and global economic malaise have the market convinced that the Federal Reserve will push their first rate hike further down 2015. Based on Chair Yellen’s first post FOMC press conference the market was expecting the first…
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Central Banks in View After China Growth Surprise Fails to Lift Markets
Precisely half an hour ago, we mocked the overnight Reuters trial balloon about ECB corporate bond buying, whose only purpose was to send futures higher, when not only did we question the credibility of the report based on “one person familiar with the work inside the ECB, speaking on condition of…
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FT Rejects Reuters Unsourced Trial Balloon About ECB Buying Corporate Bonds, Futures Refuse To Plunge
Precisely half an hour ago, we mocked the overnight Reuters trial balloon about ECB corporate bond buying, whose only purpose was to send futures higher, when not only did we question the credibility of the report based on “one person familiar with the work inside the ECB, speaking on condition of…
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FT Rejects Reuters Unsourced Trial Balloon About ECB Buying Corporate Bonds, Futures Refuse To Plunge
BREAKING
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ECB said not to have put corporate bond buying on agenda
Consolidation: After falling to 105.19 last week, USD/JPY has been rallying to 107.39 to start this week before retreating. Bearish Attempt: The 1H chart shows that the pair has now returned below the 200-, 100-, and 50-hour simple moving averages (SMAs), and the 1H RSI has broken below 40, which…
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USD/JPY Threatening to Slide Further
South African Olympic and Paralympic sprinter Oscar Pistorius was sentenced to five years in prison on Tuesday for killing his girlfriend Reeva Steenkamp, ending a trial that has gripped South Africa and the world. As judge Thokozile Masipa read out her decision on Pistorius’ Sept. 12 culpable h…
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Pistorius jailed for five years for killing girlfriend Steenkamp
The bear market in oil has analysts reassessing the U.S. shale boom after five years of historic growth. The U.S. benchmark price dropped to $79.78 a barrel on Oct. 16, the lowest since June 2012. At that level, one-third of U.S. shale oil production would be uneconomic, analysts for New York-ba…
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Oil at $80 a Barrel Muffles Forecasts for U.S. Shale Boom
Of all the decisions that Dominique Goubault says have helped to keep his 117-year-old family business alive, one in particular raises eyebrows: limiting his staff numbers to 49 or fewer. The CEO is among many bosses in France who won’t hire a 50th worker, in order to avoid the subsequent obliga…
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Weary French bosses square up as Hollande takes on ’50th worker’ reform
China grew at its slowest pace since the global financial crisis in the September quarter and risks missing its official target for the first time in 15 years, adding to concerns the world’s second-largest economy is becoming a drag on global growth. A pick-up in factory output and government con…
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China’s growth slowest since global crisis, annual target at risk
The European Central Bank is considering buying corporate bonds on the secondary market and may decide on the matter as soon as December with a view to begin buying early next year, several sources familiar with the situation told Reuters. The ECB has already carried out work on such purchases, w…
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ECB looking at corporate bond buys, could move as soon as Dec – sources
Mario Draghi, the European Central Bank president, indicated in September that the latest measures to boost faltering eurozone inflation and get the economy moving again could increase the ECB’s balance sheet up by to €1 trillion. In reality, he doesn’t have full control of the ECB’s arsenal of…
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Draghi has his back to the wall
Thank you very much for the invitation to speak tonight at the Commonwealth Bank’s 7th Annual Australasian Conference. I would like to extend a particularly warm welcome to those of you who are visiting Australia to gain first-hand knowledge of our economy and our financial markets. Welcome to our…
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RBA Lowe: Investing in a Low Interest Rate World
British government borrowing over the last six months was over 10 percent higher than in 2013, official data showed on Tuesday, giving Chancellor George Osborne a tough task to meet his full-year borrowing goals. Osborne aimed in March to reduce Britain’s budget deficit by more than 10 percent o…
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UK public finances worsen in first half of tax year
•Public sector net borrowing excluding public sector banks (PSNB ex) from April to September 2014 was £58.0 billion, an increase of £5.4 billion compared with the same period in 2013/14. •PSNB ex was £11.8 billion in September 2014, an increase of £1.6 billion compared with September 2013. •Due …
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UK Public Sector Finances, September 2014
Portugal’s government bonds led a selloff in peripheral debt in the euro area as German Finance Minister Wolfgang Schaeuble said the outlook for the region’s biggest economy has “clouded over.” Spanish and Italian securities also fell before reports this week analysts said will add to signs of st…
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Portugal’s Debt Falls With Spain’s on Stagnation Concern
