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  • Thu, Nov 10 2016
  • 2:54 PM » The Fed: Fed's Lacker sees more interest-rate hikes if Republican Congress enacts stimulus
    Published Thu, Nov 10 2016 2:54 PM by Market Watch
    If a stimulus plan passes the next Congress, it would mean a steeper path of interest rates, said Richmond Fed President Jeffrey Lacker Thursday.
  • 2:24 PM » Democrat Warren says will fight Trump on U.S. financial rules, race issues
    Published Thu, Nov 10 2016 2:24 PM by Reuters
    WASHINGTON (Reuters) - Democratic U.S. Senator Elizabeth Warren threw down the gauntlet to Republican President-elect Donald Trump on Thursday, saying in a fiery speech that her party will fight him on social issues and to uphold financial regulation.
  • 2:24 PM » Wells Fargo Leads Banks Higher as Trump Win Seen Curbing Warren - Bloomberg
    Published Thu, Nov 10 2016 2:24 PM by Bloomberg
    Bloomberg Wells Fargo Leads Banks Higher as Trump Win Seen Curbing Warren Bloomberg Wells Fargo & Co. climbed for a second straight day, leading U.S. bank stocks higher, as investors bet that a Trump presidency will lead to less regulation and sideline some of the industry's sharpest critics. Wells Fargo, which drew bipartisan rebukes ... and more »
  • 2:22 PM » Freddie Mac: Mortgage Rates Climb Higher
    Published Thu, Nov 10 2016 2:22 PM by
    Mortgage Rates Climb Higher
    Click Here to Read the Full Article

  • 2:12 PM » Donald Trump's Transition Team: We Will ‘Dismantle' Dodd-Frank
    Published Thu, Nov 10 2016 2:12 PM by
    The 2010 law will be replaced 'with new policies to encourage economic growth and job creation,' website statement says.
  • 2:09 PM » Alan Greenspan calls Dodd-Frank a 'disastrous mistake'
    Published Thu, Nov 10 2016 2:09 PM by CNN
    Donald Trump could have an ally in Alan Greenspan, the former Federal Reserve Chair, when it comes to financial regulations.
  • 2:08 PM » A Trump market reaction just made housing more expensive
    Published Thu, Nov 10 2016 2:08 PM by CNBC
    Donald Trump promised a better standard of living for all, but the stock market's response to his victory is making it harder to buy a home.
  • 2:08 PM » What's behind a sudden foreclosure spike
    Published Thu, Nov 10 2016 2:08 PM by CNBC
    The number of properties with a foreclosure filing jumped 27 percent in October compared with September, fueled by FHA loans.
  • 2:08 PM » Common cause for Trump and Yellen in continuing job and wage growth
    Published Thu, Nov 10 2016 2:08 PM by Reuters
    ST. LOUIS (Reuters) - U.S. President-elect Donald Trump and Fed Chair Janet Yellen may emerge as unlikely allies as the incoming administration moves toward policies Federal Reserve officials have long advocated and the Fed contemplates a "high-pressure" economy to try to boost jobs and wages, at least in the short term.
  • 11:51 AM » Housing Affordability Edges Lower in Third Quarter
    Published Thu, Nov 10 2016 11:51 AM by
    Ongoing home price appreciation offset a small decline in mortgage interest rates to move housing affordability slightly lower in the third quarter of 2016, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI). In all, 61.4 percent of new and existing homes sold between the beginning of July and end of September were affordable to families... Read More ›
    Click Here to Read the Full Article

  • 9:58 AM » US jobless claims drop more than expected
    Published Thu, Nov 10 2016 9:58 AM by CNBC
    The number of Americans filing for unemployment benefits fell more than expected last week, underscoring the robustness of the labor market.
  • 9:58 AM » Former Fed Chair Greenspan says 'I'd love to see Dodd-Frank disappear'
    Published Thu, Nov 10 2016 9:58 AM by CNBC
    Former Fed Chair Greenspan says 'I'd love to see Dodd-Frank disappear'|| 104096801
  • 9:58 AM » Fed still due for single rate hike, then hold, says St. Louis Fed's Bullard
    Published Thu, Nov 10 2016 9:58 AM by CNBC
    The U.S. economy will remain in a low interest rate "regime" for perhaps two to three more years, St. Louis Federal Reserve President James Bullard said on Thursday.
  • 9:56 AM » Economic Trends: The Market Is Betting Trump Will Bring Higher Inflation and Interest Rates
    Published Thu, Nov 10 2016 9:56 AM by
    Moves in the bond market suggest that investors see the economic ground shifting in the wake of Donald J. Trump's surprise victory.
    Click Here to Read the Full Article

  • 9:56 AM » CFPB participates in Fed webinar on overdraft practices
    Published Thu, Nov 10 2016 9:56 AM by
    Barbara S. Mishkin On November 9, 2016, the Federal Reserve hosted a webinar on overdraft practices. The CFPB was represented by Victoria Pawelski, Counsel, Supervision Policy, Supervision, Enforcement and Fair Lending. In addition to a CFPB representative, the presenters included representatives from the Fed, FDIC, OCC and NCUA. The presenters each discussed issues identified by their respective agency... More >
    Click Here to Read the Full Article

  • 9:55 AM » Bonds higher as investors take in Trump win, eye auction
    Published Thu, Nov 10 2016 9:55 AM by CNBC
    U.S. government debt prices were higher Thursday morning as investors continued to digest President-elect Donald Trump's victory.
  • Wed, Nov 9 2016
  • 5:24 PM » How President-Elect Trump Will Change the U.S. Housing Market
    Published Wed, Nov 09 2016 5:24 PM by
    The Republican Party, under Donald Trump, has promised to limit the federal government's role in the real estate market. The implications could be sweeping. The post How President-Elect Trump Will Change the U.S. Housing Market appeared first on Real Estate News and Advice - .
    Click Here to Read the Full Article

  • 5:24 PM » Trump won't seek Yellen's resignation: adviser
    Published Wed, Nov 09 2016 5:24 PM by Market Watch
    President-elect Donald Trump is not going to ask Federal Reserve Chairwoman Janet Yellen to resign before her term ends in February 2018, according to a top adviser. During the campaign, Trump criticized Yellen for politicizing interest rate policy. Judy Shelton, an economist and senior fellow at the Atlas Network, told The Wall Street Journal that Trump won't ask Yellen to serve a second four-year term. "He's saying he'd want someone whose thinking is more in keeping with own," Shelton said. Fed insiders think it is important that Yellen finish out her term and not resign due to political pressure.
  • 5:24 PM » PHH Corporation Comments on Settlement with New York State Department of Financial Services
    Published Wed, Nov 09 2016 5:24 PM by
    MOUNT LAUREL, N.J.--(BUSINESS WIRE)--Nov. 9, 2016-- PHH Corporation (NYSE: PHH) ("PHH" or the "Company") today issued the following statement in conjunction with the agreement to settle certain matters regarding legacy mortgage servicing and origination activities of PHH Mortgage Corporation and PHH Home Loans, LLC, as applicable, with the New York State Department of Financial Services ("DFS"). "We have agreed to resolve concerns raised by the DFS arising from legacy servicing and origination examinations conducted between 2010 and 2014 in order to avoid the distraction and expense of litigation. While we provided detail...
    Click Here to Read the Full Article

  • 2:15 PM » Market Extra: Treasury ETFs tumble: longer-dated fund has worst day since 2013
    Published Wed, Nov 09 2016 2:15 PM by Market Watch
    Exchange-traded funds that track Treasury bonds are falling on Wednesday, as investors repositioned following the unexpected presidential election of Republican Donald Trump.
  • 12:33 PM » Fed to proceed with December U.S. rate rise despite Trump upset: Reuters poll
    Published Wed, Nov 09 2016 12:33 PM by Reuters
    (Reuters) - A stunning upset by Republican Donald Trump in the U.S. presidential election may have set off a few tremors in markets but the Federal Reserve is on course to raise interest rates next month, a Reuters poll of economists showed.
  • 12:30 PM » Nowhere to run? Trump shock raises doubts over investor havens
    Published Wed, Nov 09 2016 12:30 PM by Reuters
    LONDON (Reuters) - In a year when politics has defied forecasts and uncertainty reigned, the traditional "safe haven" status of assets like bonds, gold and the Swiss franc has weakened, raising doubts about the existence of any true refuge in stormy markets.
  • 10:08 AM » Mohamed El-Erian: Here's why the markets came back up
    Published Wed, Nov 09 2016 10:08 AM by CNBC
    The president-elect can do three things to further stabilize the stock market and prevent further downside, Mohamed El-Erian tells CNBC.
  • 10:04 AM » Paulsen: Reality is we have an independent in the White House with Republican Congress
    Published Wed, Nov 09 2016 10:04 AM by CNBC
    The Republicans maintained their control of both houses of Congress as Donald Trump was handed the presidency.
  • 9:59 AM » Trump advisors vow economic growth under Trump administration
    Published Wed, Nov 09 2016 9:59 AM by Reuters
    WASHINGTON (Reuters) - Donald Trump's economic advisor Peter Navarro on Wednesday sought to reassure the markets, saying the Republican president-elect would help boost economic growth once in the White House, aided by a Republican-controlled Congress.
  • 9:57 AM » Financial stocks bounce into positive territory to buck broad market selloff
    Published Wed, Nov 09 2016 9:57 AM by Market Watch
    Financial stocks bounced sharply to trade mostly higher ahead of Wednesday's open, as a Republican-controlled Congress and a rise in bond yields helped offset uncertainty over policy under a Donald Trump presidency.
  • 9:57 AM » It's all about the election for US bond investors as Trump wins race
    Published Wed, Nov 09 2016 9:57 AM by CNBC
    U.S. government debt prices were mostly lower on Wednesday, with bond investors digesting the news that Donald Trump had secured the White House.
  • 1:03 AM » European markets set for sharp falls on election jitters
    Published Wed, Nov 09 2016 1:03 AM by CNBC
    European bourses are set for a troubled day as initial U.S. exit polls show Republican presidential candidate Donald Trump outperforming in the polls.
  • 1:03 AM » Investors see no let up in market bloodbath if Trump wins presidency
    Published Wed, Nov 09 2016 1:03 AM by Reuters
    SINGAPORE (Reuters) - Investors should brace for a further slump in global stock markets, the U.S. dollar and most commodities if Republican candidate Donald Trump becomes the next U.S. president, as appeared increasingly likely on Wednesday.
  • Tue, Nov 8 2016
  • 3:12 PM » The biggest Election Day for day traders — it's tomorrow
    Published Tue, Nov 08 2016 3:12 PM by CNBC
    The ultimate decision day for day traders isn't today, but the day after Election Day.
  • 3:10 PM » Las Vegas Real Estate in October: Sales up 5.5% YoY, Inventory down Sharply
    Published Tue, Nov 08 2016 3:10 PM by Calculated Risk Blog
    This is a key distressed market to follow since Las Vegas has seen the largest price decline of any of the Case-Shiller composite 20 cities. The Greater Las Vegas Association of Realtors reported Southern Nevada Housing Market Cools Down in October, GLVAR Housing Statistics for October 2016 The Greater Las Vegas Association of REALTORS® (GLVAR) reported Tuesday that the local housing supply remains tight as Southern Nevada home prices and sales cooled a bit from previous months but remain ahead of last year's levels. ... According to GLVAR, the total number of existing local homes, condominiums and townhomes sold in October was 3,225. That was down slightly from September, but  up 5.5 percent from 3,057 one year ago . Compared to the same month one year ago, 6.7 percent more homes, and 6.1 percent more condos and townhomes sold in October. ... By the end of October, GLVAR reported 7,693 single-family homes listed for sale without any sort of offer.  That's down 29.7 percent from one year ago . For condos and townhomes, the 1,245 properties listed without offers in October represented a 45.8 percent decrease from one year ago . emphasis added 1) Overall sales were up 5.5% year-over-year. 2) Active inventory (single-family and condos) is down sharply from a year ago (A very sharp decline in condo inventory).
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 12:54 PM » 'This saga may not end tomorrow': How a contested election may spell more pain for markets
    Published Tue, Nov 08 2016 12:54 PM by CNBC
    Executives from more than 80 companies have referenced the election as a challenge to their performance, reports NBC News.
  • 11:36 AM » Construction Job Openings Continue to Rise
    Published Tue, Nov 08 2016 11:36 AM by
    The count of unfilled jobs in the overall construction sector increased in September, as residential construction employment continued to grow. According to the BLS Job Openings and Labor Turnover Survey (JOLTS) and NAHB analysis, the number of open construction sector jobs (on a seasonally adjusted basis) grew to 221,000 in September, after establishing a cycle high of 225,000 in July. The July estimate represents the highest monthly count of... Read More ›
    Click Here to Read the Full Article

  • 10:36 AM » Number of job openings littled changed in September at 5.5 million
    Published Tue, Nov 08 2016 10:36 AM by CNBC
    Employers posted 5.5 million job openings in September, a slight increase from the 5.4 million reported in August.
  • 10:11 AM » Fed's Evans says not yet confident U.S. inflation headed higher
    Published Tue, Nov 08 2016 10:11 AM by Reuters
    NEW YORK (Reuters) - While the Federal Reserve's preferred inflation target is close to a 2-percent goal, an outspoken Fed dove said on Tuesday he would "feel better" about raising U.S. interest rates if he were more confident it would continue to rise.
  • 10:10 AM » What Happens When Wall Street Pulls Back From Bond Markets
    Published Tue, Nov 08 2016 10:10 AM by Bloomberg
    Bloomberg What Happens When Wall Street Pulls Back From Bond Markets Bloomberg The bond market is becoming more fragmented as dealers pull back, forcing fixed-income investors to step up efforts to find other sources of liquidity. Smaller lenders, brokers and electronic platforms are replacing banks making markets, leading both ... and more »
  • 8:12 AM » Supreme Court Revisits 2008's Housing Collapse With Banking Test Cases
    Published Tue, Nov 08 2016 8:12 AM by
    Miami claims bank foreclosures in 2008 targeted black and Latino homeowners. When they defaulted, property values fell, which meant a drop in taxes. The city wants the right to sue the banks.
  • 8:12 AM » CoreLogic Reports 36,000 Completed Foreclosures in September 2016
    Published Tue, Nov 08 2016 8:12 AM by
    —National Foreclosure Inventory Down 31 Percent from September 2015— CoreLogic ® (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, today released its September 2016 National Foreclosure Report which shows the foreclosure inventory declined by 31.1 percent and completed foreclosures declined by 7.0 percent compared with September 2015. The number of completed foreclosures nationwide decreased year over year from 39,000 in September 2015 to 36,000 in September 2016, representing a decrease of 69.7 percent from the peak of 118,222 in September 2010. The foreclosure inventory represents the number of homes at some stage of the foreclosure process and completed foreclosures reflect the total number of homes lost to foreclosure. Since the financial crisis began in September 2008, there have been approximately 6.4 million completed foreclosures nationally, and since homeownership rates peaked in the second quarter of 2004, there have been approximately 8.5 million homes lost to foreclosure. As of September 2016, the national foreclosure inventory included approximately 340,000, or 0.9 percent, of all homes with a mortgage, compared with 493,000 homes, or 1.3 percent, in September 2015. CoreLogic also reports that the number of mortgages in serious delinquency (defined as 90 days or more past due including loans in foreclosure or REO) declined by 24.8 percent from September 2015 to September 2016, with 1 million mortgages, or 2.6 percent, in serious delinquency, the lowest level since August 2007. The decline was geographically broad with decreases in serious delinquency in 48 states and the District of Columbia. “September's serious delinquency rate dropped by 25 percent compared to a year earlier, the third consecutive monthly acceleration in the rate of decline,” said Dr. Frank Nothaft, chief economist for CoreLogic. “This improvement is continued evidence of the...
    Click Here to Read the Full Article

  • 8:12 AM » US Treasurys edge higher as Election Day arrives
    Published Tue, Nov 08 2016 8:12 AM by CNBC
    U.S. sovereign bond prices were higher as investors focused firmly on the elections as voters headed to the ballot box on Tuesday.
  • Mon, Nov 7 2016
  • 4:33 PM » Fed Letter: "Has the Fed Fallen behind the Curve This Year?"
    Published Mon, Nov 07 2016 4:33 PM by Calculated Risk Blog
    From Fernanda Nechio and Glenn D. Rudebusch at the San Francisco Fed: Has the Fed Fallen behind the Curve This Year? Last December, monetary policy analysts inside and outside the Fed expected several increases in short-term interest rates this year. Indeed, the median federal funds rate projection in December 2015 by Federal Open Market Committee (FOMC) participants was consistent with four ¼ percentage point hikes in 2016. So far, none of those increases has taken place. Of course, monetary policy decisions are often described as data-dependent, so as economic conditions change, FOMC projections for the appropriate path of monetary policy adjusts in response. However, as Rudebusch and Williams (2008) note, changes in forward policy guidance can confound observers and whipsaw investors. In fact, some have complained that the lower path for the funds rate this year represents an inexplicable deviation from past policy norms. A reporter described these complaints to Federal Reserve Chair Janet Yellen at the most recent FOMC press conference (Board of Governors 2016b): "Madam Chair, critics of the Federal Reserve have said that you look for any excuse not to hike, that the goalpost constantly moves." Such critics have accused the Fed of reacting to transitory, episodic factors, such as financial market volatility, in a manner very different from past systematic Fed policy responses to underlying economic fundamentals. This Economic Letter examines whether the recent revision to the FOMC's projection of appropriate monetary policy in 2016 can be viewed as a reasonable course correction consistent with past FOMC behavior. We first show that the projected funds rate revision is not large relative to historical forecast errors. Next, we show that a simple interest rate rule that summarizes past Fed policy can account for this year's revision to the funds rate projection based on recent changes to the FOMC's assessment of economic conditions. And the conclusion...
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
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