Stream of Reading (Prepare to be Forwarded) – An Archive of What I'm Reading
WASHINGTON, Feb 5 (Reuters) – – The U.S. trade deficit in December widened sharply to its highest level since 2012 as imports rose despite a lower energy bill, which could see the fourth-quarter growth estimate revised down. The Commerce Department said on Thursday the trade deficit jumped 17.1 percent to $46.6 billion, the largest since…
And so after that epic 5.0% Q3 GDP print, driven largely by Obamacare, the payback begins, and the annualized Q4 GDP print, which came in at nearly half the previous quarter run rate, or 2.6%, is about to tumble by another ~0.5% following the just released trade data for December which saw a 17.1% surge…
If you have been a regular reader of mine, you are probably familiar with several things about me: First, you know I have been a steadfast bull during the entire rise in the stock market. It isn’t that I am such a genius or especially lucky. I just would rather not guess when the bull…
U.S. productivity falls in fourth quarter; labor costs rise Workers prepare outgoing shipments at an Amazon Fulfillment Center, ahead of the Christmas rush, in Tracy, California, November 30, 2014. Credit: Reuters/Noah Berger WASHINGTON (Reuters) – U.S. nonfarm productivity braked more sharply than expected in the fourth quarter, while unit labor costs rebounded after falling…
article start Several large banks eased mortgage lending standards at the end of 2014 amid softer demand, including for loans that were eligible for purchase by Fannie Mae or Freddie Mac, a Federal Reserve survey found.Still, nearly 85% of banks said underwriting standards remained basically unchanged, while 14% said credit standards eased somewhat from October…
WOODINVILLE, Wash.—Five years ago, Quadrant Homes churned out starter houses in the Seattle area with an average sales price of $269,000 and the marketing slogan, “More House, Less Money.” But facing a debt-burdened middle class and rising land prices, Quadrant has since exchanged entry-level buyers for customers free of credit worries and ready to splurge….
Bank of England Governor Mark Carney has attacked eurozone austerity. Photograph: Andy Rain/EPA The Bank of England governor, Mark Carney, has launched a strong attack on austerity in the eurozone as he warned that he single-currency area was caught in a debt trap that could cost it a second lost decade. Speaking in Dublin, Carney…
(Bloomberg) — The business of bundling riskier U.S. mortgages into bonds without government backing is gearing up for a comeback. Just don’t call it subprime. Hedge fund Seer Capital Management, money manager Angel Oak Capital and Sydney-based bank Macquarie Group Ltd. are among firms buying up loans to borrowers who can’t qualify for conventional mortgages…
(Hammerin Man) In recent years, we’ve written a number of stories about laws aimed at protecting active-duty servicemembers and their families from predatory loans and the businesses that try to take advantage of loopholes in these rules. Some readers have asked why members of our armed forces merit protections not available to civilians. But this…