Abnormal Returns masterfully curates the financial media maze daily, and today’s S&P downgrade linkfest is no exception. It’s a broad topic and these links cover the market outlook as well as the political chatter. More on the consumer rate angles coming here on The Basis Point shortly…
S&P
Abnormal Returns masterfully curates the financial media maze daily, and today’s S&P downgrade linkfest is no exception. It’s a broad topic and these links cover the market outlook as well as the political chatter. More on the consumer rate angles coming here on The Basis Point shortly…
-S&P, Moody’s Downgraded to Irrelevant (SmartMoney) -U.S. Moving Away From Reliance On Ratings (Dealbreaker) -Loans With Mortgage Insurance Less Likely To Default (NatlMortgagePro) -Is CFPB Already Helping Banks, Not Borrowers? (HSH) -The Cult That’s Destroying America (Krugman) -10 Google+ Tips & Tricks (Mashable)
-S&P, Moody’s Downgraded to Irrelevant (SmartMoney) -U.S. Moving Away From Reliance On Ratings (Dealbreaker) -Loans With Mortgage Insurance Less Likely To Default (NatlMortgagePro) -Is CFPB Already Helping Banks, Not Borrowers? (HSH) -The Cult That’s Destroying America (Krugman) -10 Google+ Tips & Tricks (Mashable)
Rates were down slightly last week but there’s reason for caution coming into this week: there’s no deal yet on U.S. budget proposals and until there’s a budget agreement, the U.S. debt ceiling won’t be raised. The U.S. will reach its borrowing limit August 2, but it takes time to process legislation and money flows
Rates were down slightly last week but there’s reason for caution coming into this week: there’s no deal yet on U.S. budget proposals and until there’s a budget agreement, the U.S. debt ceiling won’t be raised. The U.S. will reach its borrowing limit August 2, but it takes time to process legislation and money flows
On this April Fool’s Day, the only fools are those who bet on a worse jobs report. Stocks are up (S&P +11, Dow +92) and bonds are slightly down (10yr Note -16 bps, FNMA 30yr 4% coupon -9 bps) after the Bureau of Labor Statistics showed that non-farm payrolls rose 216k in March and the
We mostly focus on rate and bond markets, but it’s worth noting the opposite side of the trade today. Rates rose about .2% today because manufacturing inflation spooked bond markets, but the inflation is from a good trend of growth (this table shows growth trend). Stocks liked the news, with the Dow ending at 12,040,
The Economist’s cover story headline from last week—Acropolis Now— sounds all the more fitting today as Greece citizens and police clashed in the streets, and the Dow, S&P 500, Nasdaq all erased most of their 2010 gains, and safer bond investments rallied: mortgage bonds are up 43bps, 10yr Treasury bonds up 115bps. When bonds rally
Wild Market Tuesday Recap, Consumer Confidence Up, Author Tattoos ‘NYT Bestseller’ On Chest (Part 2)
Wild Tuesday Market Recap Yesterday was quite the day for the financial markets. For an appetizer, we started with S&P cutting Greek debt to junk and downgrading Portugal. For the salad course, US home prices slipped, but Consumer Confidence rose. For the main course, Goldman Sachs representatives sat in front of the Senate and fended
S&P cut Greece bonds to junk bond status, BB+ from BBB+, and also cut Portugal from A1 to A2. This plus cautionary monthly home price numbers (also from S&P) have caused Treasuries and mortgage bonds to rally. Rates are tied to mortgage bonds, and they’re improving as bonds rally.
S&P cut Greece bonds to junk bond status, BB+ from BBB+, and also cut Portugal from A1 to A2. This plus cautionary monthly home price numbers (also from S&P) have caused Treasuries and mortgage bonds to rally. Rates are tied to mortgage bonds, and they’re improving as bonds rally.
Rates Up On New Home Sales & Durable Goods Numbers Today we had Durable Goods (very volatile) and a big New Home Sales number. Durable Goods were expected to be +.3% for March and originally reported as +.5% in February, the third consecutive monthly increase (although most of the gain in February’s number was due
Someone sent the graph below comparing stock indices to San Francisco Real Estate form 2000 to present. Obviously there are a lot of assumptions here and this cannot dictate any individual’s property investment decision, but worthy of debate. One of The Basis Point’s investment management contributors had this to say about it: Makes me want
Rate/Market Update Rates on conforming loans up to $417k and super-conforming loans up to $729k are net even this week after building on last week’s .25% gains then giving up ground today. Rates for jumbo loans above $729k remain steady because those rates don’t trade all day every day like conforming loan rates do. Tame
Last week the Dow crossed a key psychological barrier of 9000 for the first time since January, and sentiment seems to be positive. But earnings are perhaps not all that they seem. Below is what former labor secretary Robert Reich had to say about it. The ‘real economy’ part is especially notable seeing as how
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