<Click on chart for larger image> Zero Hedge ( Blog) – Another Day, Another Worsening In European Interbank Lending: 3M Euribor At 0.896% From 0.893% With each passing day, the interbank ledning market in Europe gets worse as the shadow economy’s unravelling accelerates: 3 Month Euribor just hit a fresh high of 0.896% versus the… Continue reading Euro InterBank Lending Gets Worse
<Click on chart for larger image> The Associated Press – Housing recovery is about timing and location If you bought a home in San Francisco in the past year, it might feel like the housing slump is over. Bay area home prices have shot up 18 percent in the past year. But someone next door… Continue reading Case Shiller Update
Realestatechannel.com – Why Are Banks Withholding Highend Repossessions Over $300,000 From the Market? With the expiration of the first-time buyer tax credit on April 30, there are now two main props keeping the housing market afloat. One is the growing percentage of home sales financed by Federal Housing Administration (FHA) loan guarantees. The other is… Continue reading Banks Are Keeping Home Foreclosures Over 300k Off The Market
<Click on chart for larger image> Zero Hedge ( Blog) – 30 Year Fixed Mortgage Yield Plumbs Fresh All Time Lows For the few, the proud, the stuck in the 19th century, with an “originate to hold” business model (such an anachronism when originate to distribute by hedge funds, pardon, banks is all the rage),… Continue reading 30 Year Fixed Mortgages At All Time Lows
Bloomberg.com – Euro-Area Banks Tighten Credit Standards on Companies, Consumers, ECB Says European banks continued to tighten credit standards for companies and households in the second quarter as the sovereign debt crisis impaired their access to funding, the European Central Bank said. “The downward trend in the net tightening of credit standards on loans to… Continue reading Tight Credit In Europe
The Wall Street Journal – Across Europe, Glimmers of Optimism Emerge Ebbing fear in Europe has helped bring relief to other markets around the world, including U.S. stocks. But there are also signs of lingering market unease and little hope that the long-term problems dogging Europe have been solved, suggesting the welcome market reprieve may… Continue reading Signs Of Hope In Europe?
The Wall Street Journal – How Low Can 2-Year Yield Go? The government sold $38 billion of two-year notes at a record low yield for the second month in a row but, similar to last month, investor worries about the remaining large sales this week sent Treasury prices lower.The Treasury sold the notes at a… Continue reading 2-Year Note Yield At Record Lows
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<Click on chart for larger image> The Wall Street Journal – Investors Unconvinced, Despite Strong Quarterly Revenues U.S. businesses are having a hard time hammering home the message that earnings and revenue are strong. A third of the way through second-quarter earnings season, a tally of the performance shows that the majority of companies are… Continue reading Earnings
The Wall Street Journal – Course of Economy Hinges on Fight Over Stimulus Eighteen months after President Barack Obama administered a massive dose of spending increases and tax cuts to a weak economy, a brawl has broken out among economists and politicians about whether fiscal-stimulus medicine is curing the illness or making it worse. The… Continue reading Stimulus vs. Austerity
American Banker – European Union Flunks Test for Stress Test No nudge to raise capital; skepticism about results may give U.S. banks an edge It’s easy to mock the legitimacy of government-run stress tests, even when they work. In just over a year, many observers have done it three times. Like its predecessors, a European… Continue reading The Stress Tests
Bloomberg.com – Apartment Rentals Surge in U.S. on Home Foreclosures, Job Gains U.S. apartment landlords are seeing a surge in rentals as mounting foreclosures reduce homeownership and an improving job market for young adults encourages them to find their own places to live. The number of occupied apartments increased by 215,000 in the 64 largest… Continue reading More Anecdotal Evidence Points To Rising Rents