Around The Web

Don't Get Too Excited About Record New-Home Prices

Around the Web — Thu, 23 May 2013 23:15:21 GMT

Sales of new homes -- a key economic driver across multiple industries -- are steadily recovering. But more striking is the pace at which prices of new homes are recovering....(read more)

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Analysis: Markets face rough summer ride as Fed pullback feared

Around the Web — Thu, 23 May 2013 23:05:17 GMT

NEW YORK (Reuters) - For the past few months, the U.S. Federal Reserve has been squarely in the financial markets' corner, thanks to its massive dollops of monetary stimulus. But signs that the central bank is discussing reducing that support by purchasing fewer bonds mean that trading is likely to get bumpier in coming months....(read more)

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ECB's Weidmann Wishes Japan 'Good Luck' With Experiments - Bloomberg

Around the Web — Thu, 23 May 2013 23:01:26 GMT

ECB's Weidmann Wishes Japan 'Good Luck' With Experiments Bloomberg European Central Bank Governing Council member Jens Weidmann expressed discomfort with the Bank of Japan's monetary-policy stance. "I wish the Japanese good luck in their experiments," Weidmann, who also heads Germany's Bundesbank, said in ... and more »...(read more)

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JPMorgan to Sell Bonds Backed by $443 Million of Mortgages - Bloomberg

Around the Web — Thu, 23 May 2013 19:49:07 GMT

JPMorgan to Sell Bonds Backed by $443 Million of Mortgages Bloomberg JPMorgan (JPM) Chase & Co. is planning its second sale of U.S. home-loan securities without government backing since the financial crisis the debt helped to trigger. The bonds will be backed by $443 million of "high-quality" so-called jumbo mortgages, ......(read more)

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Is bond bubble losing air?

Around the Web — Thu, 23 May 2013 18:39:14 GMT

Investors are trying not to fight the Fed, but the central bank's mixed messages are causing confusion....(read more)

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Lender Processing Surges on Report of Sale Talks - Bloomberg

Around the Web — Thu, 23 May 2013 18:38:11 GMT

Lender Processing Surges on Report of Sale Talks Bloomberg Lender Processing Services Inc. (LPS) climbed the most in almost four years after a report that it's in talks to sell itself for about $2.9 billion. Fidelity National Financial Inc. (FNF), a would-be buyer, also surged. LPS, a provider of mortgage-processing services ... and more »...(read more)

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Primary Dealers Saw Fed's Confusing Strategy Reducing QE Impact - Bloomberg

Around the Web — Thu, 23 May 2013 18:37:11 GMT

Primary Dealers Saw Fed's Confusing Strategy Reducing QE Impact Bloomberg The 21 primary dealers that trade securities directly with the Federal Reserve Bank of New York, said that confusion about the central bank's intentions for its bond-buying program is reducing the policy's effectiveness. The dealers' views were shared with the ......(read more)

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No Risk in QE Tapering: UBS Strategist

Around the Web — Thu, 23 May 2013 18:29:54 GMT

Reduced asset purchases from the Federal Reserve would mean the economy's stronger, which would be a positive for stocks, UBS Chief Equity Strategist Jeremy Zirin says....(read more)

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Huge Japan Stimulus Still Not Enough: Kyle Bass

Around the Web — Thu, 23 May 2013 18:29:53 GMT

The gargantuan stimulus Japan is pumping into its economy will have to be even larger to achieve the desired results, said Hayman Capital founder Kyle Bass....(read more)

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Record High New Home Prices Have Room to Grow

Around the Web — Thu, 23 May 2013 17:25:04 GMT

Supplies are at levels not seen since the frenzy of the last housing boom while the median price for a new home hit a record high, further signs that housing is recovering....(read more)

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Wow! New York Fed: The US economy will accelerate sharply in 2014

Around the Web — Thu, 23 May 2013 16:16:14 GMT

The economic team at the New York Fed offers a pretty darn rosy forecast for next year: 3.6% GDP growth (vs. 2.3% in 2104) with the economy adding a whopping 302,000 net new jobs a month (vs. 144,000 in 2014) … read more >...(read more)

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Mortgage rates are trending upward

Around the Web — Thu, 23 May 2013 16:15:11 GMT

Mortgage rates moved higher for the third week in a row, according to the latest data released by Freddie Mac. The 30-year fixed-rate average jumped to 3.59 percent with an average 0.7 point. It was up from 3.51 percent last week but down from 3.78 percent a year ago. Until last week, the 30-year fixed rate had remained below 3.5 percent for more than a month. Read full article >>        ...(read more)

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Poverty is now growing twice as fast in the suburbs as in the city

Around the Web — Thu, 23 May 2013 16:15:10 GMT

At some point during the 2000s, America reached an unexpected milestone: There are now more poor people living in the suburbs than living in the inner cities. That stat comes from a big new Brookings Institution book by Alan Berube and Elizabeth Kneebone, Confronting Suburban Poverty in America . They find that between 2000 and 2011, the number of suburban poor grew by 64 percent - more than double the rate in the cities: Read full article >>        ...(read more)

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Fed's Williams: Not yet convinced of improvement

Around the Web — Thu, 23 May 2013 16:15:10 GMT

WASHINGTON (MarketWatch) - More signs of a strong economy are needed before it will be clear that the economy is on solid footing, said San Francisco Fed President John Williams on Thursday. "I'm seeing very good signs of improvement, and I want to see even more to be convinced," Williams said in an interview with Bloomberg. In a speech ten days ago, Williams said that the pace of asset purchases could start "as early as this summer" and the program could end late this year "if all goes as hoped." In the interview published Thursday, Williams said a tapering of the pace of asset purchases would not be a sign that the Fed is on "autopilot" to end stimulus. "We can adjust it down some, watch how things progress from there, and then adjust it again...(read more)

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Realtors® Report Positive Trends in Commercial Market with Increases in Income, Transactions

Around the Web — Thu, 23 May 2013 14:58:22 GMT

WASHINGTON (May 23, 2013) – Realtors ® who practice commercial real estate have reported an increase in annual gross income for the third year in a row, signaling the market is on the road to recovery. According to the National Association of Realtors ® 2013 Commercial Member Profile , transactions and sales volume have also increased since last year. The study shows median annual gross income for 2012 was $90,200, an increase from $86,000 in 2011 and is at its highest level since 2008. Brokers and appraisers reported the highest annual... Read More...(read more)

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