Thank you for this opportunity to show my support for the work all of you do on asset-building, and to say a few words on this vitally important topic. The financial crisis and the Great Recession demonstrated, in a dramatic and unmistakable manner, how extraordinarily vulnerable are the large sh…
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Yellen: The Importance of Asset Building for Low and Middle Income Households
The number of Americans filing applications for unemployment benefits plunged last week to a two-month low, a sign the labor market continues to strengthen. Jobless claims decreased by 36,000 to 280,000 in the period ended Sept. 13, the Labor Department said today in Washington. The median forec…
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Jobless Claims in U.S. Decline to Two-Month Low of 280,000
Canadian investors added $9.7 billion of foreign securities to their portfolios in July, the largest such investment since April 2007. Meanwhile, foreign investors acquired $5.3 billion of Canadian securities, mainly instruments from the corporate sector. …
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Canada’s International Transactions in Securities, July2014
Housing starts slumped in August after reaching the highest level in almost seven years, pointing to an uneven pickup in the U.S. residential real-estate market that will limit its contribution to economic growth. Beginning home construction fell 14.4 percent, the most since April 2013, to a 956,…
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Housing Starts Drop More Than Forecast in Uneven U.S. Recovery
It was clearly an FOMC meeting for everyone. Equities, Treasuries and the dollar all rallied with record highs on Wall Street and major forex pairs such as Euro/Dollar and Dollar/Yen breaking through key levels. The bulls on Wall Street are back in control again, with the S&P 500 creeping above 2000…
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Support on Cable looking to hold now at $1.6250
Tomorrow — after months of speculation and a two-week globe-trotting roadshow — Alibaba will finally make its stock-market debut on the biggest stage: the New York Stock Exchange. The final price will be set tonight, but if the top of the $66-to-$68-a-share range is reached, the float …
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Alibaba IPO: What to expect as Chinese giant goes public in New York
The IPSOS-Mori poll for London’s Evening Standard just released has No on 53% and Yes on 47% suggesting a slightly wider gap Exit polls today though will be the main focus but GBPUSD has rallied to 1.6336 EURGBP down to 0.7884
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Latest Scottish poll has the No vote on 53%
Voters in Scotland will today decide whether to seek independence from the U.K. in a ballot that could spell the end of a three-century-old union that once dominated the world from America to Australia and trigger a new era of self-determination across Europe. Polling stations are open from 7 a.m…
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Scotland Votes as U.K.’s Future Hangs in the Balance
The European Central Bank’s first targeted-loan program came in below estimates in a sign that President Mario Draghi has a way to go to meet his stimulus target. The Frankfurt-based central bank said it alloted 82.6 billion euros ($106.5 billion) at a fixed interest rate of 0.15 percent in its …
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ECB Targeted Loans Issued Below Estimates
The UK’s manufacturers had a mixed month in September, with production continuing to rise steadily but order books deteriorating. That’s according to the CBI’s latest Industrial Trends Survey. Stocks adequacy fell back below average and inflation expectations remain muted, with manufacturers once…
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UK manufacturing growth holds up, but orders weaken – CBI
BREAKING
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Moody’s to cut French rating to AA2 from AA1 – L’opinion"
◾Banks take up €82.6 billion in first of eight TLTROs ◾Programme supports lending to the real economy ◾Part of package of ECB measures that will have sizeable impact on ECB’s balance sheet The European Central Bank has today allotted €82.6 billion to 255 counterparti…
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ECB allots €82.6 billion in first targeted longer-term refinancing operation
The Swiss National Bank threatened to step up its defense of the franc “immediately” if needed as it noted an increased danger of deflation. The central bank, led by President Thomas Jordan, kept its ceiling on the franc of 1.20 per euro and its interest-rate target range at 0 to 0.25 percent at…
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SNB Threatens Further Measures as Franc Poses Deflation Risk
U.K. retail sales rose the most in four months in August, helped in part by a surge in demand for vacuum cleaners before new restrictions on powerful electrical appliances came into effect. The volume of sales including auto fuel increased 0.4 percent from July, matching the median estimate of 2…
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U.K. Retail Sales Rise as Demand for Vacuum Cleaners Surges
•Compared with July 2014, the quantity bought in the retail industry in August 2014 was estimated to have risen by 0.4%. Compared with August 2013 the growth was much stronger with the quantity bought increasing by 3.9%. …
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UK Retail Sales, August 2014
◾In line with the Statute of the European System of Central Banks and of the European Central Bank, the voting rotation system starts on 1 January 2015 ◾The Spanish central bank Governor is the first to relinquish his voting right in group 1 ◾The Estonian, Irish and Greek…
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ECB announces first list of governors subject to voting rotation
It’s one thing for contrarian financial websites to accurately predict the transitory phase and housing price dead cat bounces which are only sustained by the unholy trinity of foreclosure bottlenecks (which are simply supply-side subsidies), offshore money laundering into US real estate (thanks to…
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Goldman’s Former Head Of Housing Research Predicts Housing Crash, Recession Within Three Years
An island in Micronesia. A gold mine in Canada’s Yukon Territory. Tickets to the 2014 Victoria’s Secret fashion show in London. Those are just a few of the assets on offer at BitPremier, a website targeting bitcoin holders looking to unload some of their digital hoard. The number of listings on B…
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How to Buy Islands, Gold Mines and Villas With Bitcoin
Switzerland’s exports fell in August for the first time since May, due to lower sales of chemicals, pharmaceuticals and machinery and electronic products, data showed on Thursday. Demand from the rest of Europe, Switzerland’s biggest export market, weakened, noticeably in Germany. Exports drop…
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Swiss exports drop in August as European demand weakens
Yada yada. Deja vu impact of sales tax waning gradually; Japanese economy is recovering gradually; BOJ easing is exerting intended effects; won’t hesitate to make adjustments if necessary; USDJPY 108.70 quite rightly ignoring the repeated mantra;
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BOJ’s Kuroda says they will continue easing until 2% inflation stable
