February 2009 - Fed and Economy Watch

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The Week Ahead: BOC Interest Rate Decision, U.S. Employment

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February 27 2009, 6:48 PM

It's a busy week for North American markets as investors prepare for another bad employment number in the U.S. Canadian markets will pay attention to the Bank of Canada's interest rate decision. According to the Overnight Index Swaps, markets

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Fed's Rosengren Calls for Immediate Support for Financial System

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February 27 2009, 2:23 PM

Actions to help stabilize the financial system must be taken "without delay," Boston Fed President Eric Rosengren said on Friday. "I believe that below-potential growth is likely to persist until financial markets and financial institutions

Filed under: eric rosengren

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Fed's Longer-Term Forecasts Will Help Anchor Price Expectations, Says Fed's Yellen

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February 27 2009, 11:14 AM

Despite rising oil prices and high headline inflation over the last several years, the Fed's inflation credibility helped keep price expectations anchored, Federal Reserve Bank of San Francisco President Janet Yellen said Friday. Yellen, a voting

Filed under: janet yellen

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Preliminary GDP Contracts 6.2% in Q4, Consumption Declines 4.3%

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February 27 2009, 8:40 AM

The preliminary revisions to U.S. GDP were worse than expected for the fourth quarter of 2008, contracting by -6.2% against forecasts for a 5.4% decline, the Bureau of Economic Analysis reported on Friday. Personal consumption, which accounts for 70%

Filed under: gdp

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Friday's Events: Prelim Q4 GDP, Chicago PMI;

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February 27 2009, 6:50 AM

A second look at U.S. Q4 GDP, followed by the Chicago PMI and some Fed speak, tops the economic news of the day while Canada will receive its fourth quarter current account balance. At 8:30 a.m. EST, Statistics Canada will release its fourth-quarter current

Filed under: gdp

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Jobless Claims Data Points to Possible 750k Loss in Nonfarm Payrolls

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February 26 2009, 10:22 AM

The upside surprise in U.S. initial jobless claims points to a continued deterioration of the U.S. labour market, and the possible loss of up to 750,000 jobs in February's official nonfarm payrolls report. Initial claims rose to 667k in the week ending

Filed under: jobless claims

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Obama Budget Calls for Another $750 Billion to Safeguard Banks

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February 26 2009, 7:52 AM

Another $750 billion in aid to the financial system and $635 billion in spending on an overhaul of the U.S. health care system will bring the budget deficit to an unprecedented $1.75 trillion by September 30, 2009, according to U.S. President Barack Obama's

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Wednesday's Events: More Testimony from Bernanke; Existing Home Sales

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February 25 2009, 6:50 AM

More testimony from Fed Chairman Ben Bernanke , along with U.S. January existing home sales, are likely to dominate the day's economic events. However, the U.S. Department of Energy's weekly oil inventories and the U.S. Treasury selling $32 billion

Filed under: existing home sales, ben bernanke

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ABC Consumer Confidence up One Point to -48

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February 24 2009, 5:20 PM

The weekly ABC News Consumer Confidence Index is up one point to -48 from -49 in the week ending Feb. 22. "Consumer confidence inched - barely - to its best of the year this week, boosted by improved ratings of personal finances. But it's by

Filed under: consumer confidence

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Bernanke Says Full Economic Recovery More Than Two to Three Years Away

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February 24 2009, 10:12 AM

Federal Reserve Chairman Ben Bernanke said a full economic recovery is at least another two to three years away and that a low Fed rate will be in place for some time. During his semi-annual testimony before the U.S. Senate Banking Committee, Bernanke

Filed under: economy, ben bernanke

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Consumer Confidence Tanks to Record Low in February

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February 24 2009, 10:08 AM

Consumer confidence dropped a staggering 10 points to hit a fresh record low in February, according to a survey on Tuesday. The U.S. Conference Board's consumer confidence index fell to a new all-time low of 25.0 in February, following January's

Filed under: consumer confidence

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Tuesday's Events: Bernanke's Semi-Annual Testimony, U.S. Consumer Confidence

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February 24 2009, 7:01 AM

Semi-annual testimony from Feb Chairman Ben Bernanke and February U.S. consumer confidence are likely to be among the dominant events on Tuesday. Markets will also receive two housing reports from S&P/Case Shiller and the FHFA, and a $40 billion auction

Filed under: consumer confidence, ben bernanke

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Fed's Lockhart Says Forecasts Can be Overly Pessimistic

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February 23 2009, 12:46 PM

Federal Reserve Bank of Atlanta President Dennis Lockhart said Monday that as recessions come to an end, economist forecasts tend to be overly pessimistic . He also said it's hard to forecast the beginning and end of a recession. Speaking in Orlando

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"Above-Trend" U.S. Growth Forecast for 2010, NABE Says

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February 23 2009, 10:11 AM

The U.S. economy could see "above-trend" growth in 2010 , according to the latest forecast from the National Association for Business Economics. The forecast calls for a 5% contraction in gross domestic product in the first quarter of 2009,

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Monday's Events: Canadian Retail Sales, Fed's Lockhart Speaks

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February 23 2009, 7:19 AM

Monday should be a quiet day with no major releases out of the United States, but news from the U.S. government is expected on media reports that it plans to buy up to a 40% stake in Citigroup. In Canada, December retails sales data will be released.

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30 Yr FRM	4.83%	-0.08%
15 Yr FRM	4.32%	-0.04%
1 Yr ARM	4.35%	-0.11%
5/1 Yr ARM	4.25%	-0.04%
30 YR Tres	4.30%	0.01%
Fed Prime	3.25%	0.00%
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February 2009 - Fed and Economy Watch

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