Reuters.com – Fed says it is data dependent, but whose data? The Federal Reserve says it will depend on straightforward data analysis in deciding when to raise U.S. interest rates. But whose data will it depend on? The large, half a percentage point revision to estimated U.S. first quarter gross domestic product issued on Wednesday… Continue reading The Data Dependent Fed
Bloomberg Business – Goldman’s Cohn: You’re Wrong If You Think Markets Ready for Fed Years of discussing when and how the Federal Reserve will raise interest rates probably isn’t going to prevent market participants from being caught off guard, Goldman Sachs Group Inc. President Gary Cohn said. “We’re probably less ready than people think,” Cohn… Continue reading Rising Rates And The Markets
The Upshot (NYT Blog) – Neil Irwin: Is Greece Lehman Brothers, or Is It RadioShack? There is one big question that hangs over the last-ditch negotiations this week between the Greek government and its lenders, even if no one involved would frame it quite this way: Is Greece more like RadioShack, or more like Lehman… Continue reading How Serious Is The Crisis In Greece?
<Click on chart for larger image> CNN Money – Homeownership Hits Another Record Low Still can’t afford a home? You’ve got company A decade after the housing bubble collapsed, America’s home ownership rate is still dropping, according to a new survey by Harvard University’s Joint Center for Housing Studies. Just 63.7% of American households owned… Continue reading Homeownership Continues To Fall
<Click on chart for larger image> Bloomberg View – Where Have All the Public Companies Gone? The U.S. now has half as many publicly listed companies trading on its exchanges as it did at the peak in 1996. As the chart below shows, listed companies reached a high of 7,322. That number today is down… Continue reading Where Are The Public Companies?
Real Time Economics – Fischer: Fed Seeking Industry Input to Assess Stress Tests The Federal Reserve is seeking input from the financial industry and others with the goal of improving its stress tests of big banks, Fed Vice Chairman Stanley Fischer said Wednesday. “With the benefit of five years of experience, the Fed is continuing… Continue reading Fed Stress Tests
The Wall Street Journal – HILSENRATH’S TAKE: FIREWORKS WATCH IN EARLY JULY FOR THE FEDERAL RESERVE Fed watchers can mark their calendars with the following dates: July 2, July 8 and July 15. During that span of 13 days next month, the Labor Department will release its next jobs report, minutes of the Fed’s last… Continue reading A Busy July For The Fed
CNBC – Icahn warns markets ‘extremely overheated,’ especially in junk bonds Carl Icahn warned investors on Wednesday that he believes the market is “extremely overheated—especially high-yield bonds.” “I think the public is walking into a trap again as they did in 2007,” the activist investor told CNBC’s “Fast Money Halftime Report.” “I think it’s almost… Continue reading Carl Icahn Speaks
None Today
Charts of the Week Topics Covered This Week Include: Fed Officials Continue To Try To Convince The Market On Rate Hike Are Fed Watchers Reading A Different FOMC Statement Than Everyone Else? Fed Funds Futures Implied Yield China Hedge Fund Returns Bond Market Hate Household Net Worth Hits A New Record Value Of Credit As… Continue reading Charts of the Week
<Click on chart for larger image> The Wall Street Journal – Fed’s Powell Sees Potential for Rate Rise by September Federal Reserve governor Jerome Powell said that the central bank’s conditions for deciding when to initiate interest rate increases could be met “as soon as September.” “I don’t think the odds are 100%…that we will… Continue reading Fed Officials Continue To Try To Convince The Market On Rate Hike
The Wall Street Journal – Hedge Funds Score Big Gains Some of Wall Street’s biggest investors are outrunning markets for the first time in years, riding gains from bets on instability in Europe and a wave of mergers. Markets the world over have been muddled in recent months by political tensions surrounding Greece and reservations… Continue reading Hedge Fund Returns