Come on Bloomberg, that’s just a rude headline. Click pic for video.
June 2011
– S&P 500 performance on Fed Days during zero-rate-policy era (Bespoke) – Bill Gross Wants To Bring Back Shop Class (Dealbreaker) – Web’s governing body opens ALL domains (PC Mag) – Anatomy of a fundable startup (VentureBeat) – Another Lost Decade (DailyReckoning) – Links for Summer Solstice (NakedCapitalism)
– S&P 500 performance on Fed Days during zero-rate-policy era (Bespoke) – Bill Gross Wants To Bring Back Shop Class (Dealbreaker) – Web’s governing body opens ALL domains (PC Mag) – Anatomy of a fundable startup (VentureBeat) – Another Lost Decade (DailyReckoning) – Links for Summer Solstice (NakedCapitalism)
For 2011 summer solstice, this installment of bTunes is debut Jane’s Addiction to set the proper mood.
Some argue that Greece doesn’t matter in the grand scheme of European debt, but U.S. rate data for the past 13 months suggests that they’re wrong. On May 6, 2010, Greek parliament ratified austerity measures to increase taxes and reduce incomes for public employees which account for about 20% of Greece’s workforce. Rioting ensued and
Existing Home Sales: – May: 4.81 Million (annualized) – May Month/Month: -3.8 %, a 6mo low – May Year/Year: -15.3 % – Home Sales remain weak: 9.3mo of supply on market excluding pre-foreclosures. Retail Sales: – Redbook Year/Year +4.2% – ICSC-Goldman week/week -0.7%. Year/Year +2.2% FOMC meeting starts today. I suppose that the task at
Recent existing home sales reports remind us that cash buyers are on the rise. In May, 30% of existing home sales were all-cash deals, down only slightly from 31% in April, and a record 35% in March. Is it more beneficial to pay cash for a home? Depends on your expected time horizon in the
Bank closures have slowed in 2011 versus 2010 but haven’t stopped. Forty-seven banks have failed year to date, including two on Friday. I guess that these two banks weren’t “too big to fail.” Departing FDIC chairman Sheila Bair says the era of too-big-to-fail banks isn’t just ending, it’s already over. Really? A few weeks back
Threre are no significant fundamentals today. Existing Home Sales (Tuesday), New Home Sales (Thursday), durable goods orders and revised 1Q2011 GDP (Friday) will not likely be market movers. FOMC meets Tuesday and Wednesday in the context of “we’ve tried everything and nothing has worked.” Uncertainty regarding Greek debt could rally U.S. Treasuries and mortgages if
Threre are no significant fundamentals today. Existing Home Sales (Tuesday), New Home Sales (Thursday), durable goods orders and revised 1Q2011 GDP (Friday) will not likely be market movers. FOMC meets Tuesday and Wednesday in the context of “we’ve tried everything and nothing has worked.” Uncertainty regarding Greek debt could rally U.S. Treasuries and mortgages if
The U.S. Economy is in a bad state. What can be done? I will offer an agenda: (1) Reconsider our participation in the Basel accords and recognize that purely commercial banks have a different set of risks that the now hybridized investment/commercial banks. These regulations penalize purely commercial banks by demanding higher capitalization while insanely
Rates ended last week even after heavy volatility. Tuesday, rates rose as mortgage bonds sold sharply on less bad U.S. retail sales and a 5.5% spike in Chinese inflation since May 2010. But as the week progressed, bonds rebounded and rates improved on tame U.S. core inflation and contracting U.S. manufacturing activity. Rates also benefitted
CONFORMING RATES ($200,000 to $417,000) 0 POINT 30 Year: 4.625% (4.745% APR) FHA 30 Year: 4.375% (4.495% APR) 5/1 ARM: 3.0% (3.12% APR) SUPER-CONFORMING RATES ($417,001 to $729,750 cap by county) 0 POINT 30 Year: 4.75% (4.87% APR) FHA 30 Year: 4.5% (4.62% APR) 5/1 ARM: 3.375% (3.495% APR) JUMBO RATES ($729,751 to $2,00,000) 1
CONFORMING RATES ($200,000 to $417,000) 0 POINT 30 Year: 4.625% (4.745% APR) FHA 30 Year: 4.375% (4.495% APR) 5/1 ARM: 3.0% (3.12% APR) SUPER-CONFORMING RATES ($417,001 to $729,750 cap by county) 0 POINT 30 Year: 4.75% (4.87% APR) FHA 30 Year: 4.5% (4.62% APR) 5/1 ARM: 3.375% (3.495% APR) JUMBO RATES ($729,751 to $2,00,000) 1
Below is a snapshot of the week which includes a Fed meeting and press conference. Click image for details on each report.
Finally a word for how everyone sees the world. Click image for more.
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