Quick takes and charts on all today’s data
Archive for the ‘Monetary Policy’ Category
Ineffective Monetary Policy. Waning Retail Sales.
FOMC meeting starts today. Weekly retail sales reading down.
Strauss-Kahn Slams Europe. And He’s Right.
Europe crisis update from 12/9 to today.
WeeklyBasis 10/29: Jobs, Fed, ECB Center Stage
Rates were even to end last week after +/- .25% daily swings, and are still up .25% from all-time record lows set October 3-4. Another huge week ahead: Fed and ECB rate meetings, October jobs report, lots more earnings, and Europe’s debt crisis slogs on. Below I recap last week, then preview what’s coming. And [...]
Mario Draghi Bio: New European Central Bank President
Thursday, November 3 is the first European Central Bank (ECB) rate policy meeting with Italian Mario Draghi as president. He is succeeding Jean Claude Trichet. Draghi, 64, has been governor of the Bank of Italy since December 2005. He was vice chairman of Goldman Sachs International and part of the firmwide management committee 2002-2005. He [...]
Latest Stats On Fed MBS Buying To Lower Rates
Below is a table showing the $5.2 billion in mortgage bonds (aka MBS) bought by the Fed October 6-12 as part of their plan to support low rates with MBS buying—link below tables explains how. Also below is a table showing the Fed will buy about $22b in MBS from tomorrow through November 10. I’ll [...]
Originations: Moneyball Housing Analogy
Today’s linkfest on monetary and stock outlook, latest mortgage guidelines, and Wall Street ice cream flavors. -Q4 Monetary Policy Preview: US, Europe, UK, Japan (TradingFloor) -Can The S&P 500 Stay Above 1175-1195 Resistance? (TheBigPicture) -Moneyball Housing Analogy: Runs = # of Sales (Matrix) -Top 10 Ben & Jerry’s Wall Street Flavors (ReformedBroker) -Mortgage Lenders Get [...]
Fed MBS Buys Last Week
Below is a table showing the $3.95 billion in mortgage bonds (aka MBS) bought by the Fed last week as part of their September 21 announcement to buy MBS to support low rates—click table for source. The Fed says their next announcement will be this Thursday, October 13 and will include the planned purchase amounts [...]
Here’s Why Rates Up A Bit Since Monday
Fixed-income traders report that trading in this environment is growing increasingly difficult. “We’re approaching levels that suggest the worst is built in.” The MBA reported that mortgage applications fell 4.3% last week in spite of the great rates. Banks are afraid to lend, to put it simply. Volatility picked up a little Monday afternoon when [...]
Fundamentals 9/30: Personal Income & Spending, Chicago PMI
Personal Income & Spending -Personal Income, Month/Month: -0.1% -Consumer Spending, Month/Month: 0.2% -Core PCE price index, Month/Month: 0.1% -Core PCE price index, Year/Year: 1.6% -These data and the graphs below are stark. With less money coming in and less money to spend the consumer cannot drive economic growth. Chicago PMI -ISM – Chicago Business Barometer [...]
