Wed, Jul 30 2008, 7:00 AM
Headline inflation in the United States could be
headed as high as 6% before the end of the year, CIBC chief economist
Jeff Rubin warns in a foreca...
Wed, Jul 30 2008, 7:00 AM
The consensus forecast expects U.S. GDP growth to
come in quite a bit better than the two previous quarters, as exports
have surged on the weak do...
Wed, Jul 30 2008, 7:00 AM
On Tuesday evening, the Securities and Exchange Commission
extended its emergency rule limiting short selling of
Fannie Mae, Freddie Mac and 17 br...
Wed, Jul 30 2008, 7:00 AM
Mortgage service providers have staved off the foreclosure of
1.9 million homes in the past year in what has been the
largest bailout the housing ...
Wed, Jul 30 2008, 7:00 AM
Whatever else is going on in the housing market, it appears that
Americans are no longer using their homes as gigantic credit
cards to finance new...
Wed, Jul 30 2008, 7:00 AM
Following the release of the ADP private employment
report on Wednesday, which posted a gain of 9k jobs in July,
economists dismissed the figures ...
Wed, Jul 30 2008, 7:00 AM
In addition to the $75 billion 28-day Term Auction Facility (TAF), the
Fed will also be conducting a $25 billion 84-day TAF to address the
ongoing ...
Wed, Jul 30 2008, 7:00 AM
The ADP employment report will be the most closely looked at economic
event of the day ahead of Friday's U.S. nonfarm payrolls. In Canada,
markets w...
Wed, Jul 30 2008, 7:00 AM
Weekly mortgage applications declined in the week
ending July 25, according to data released from the Mortgage Bankers'
Association (MBA) on Wednes...
Wed, Jul 30 2008, 7:00 AM
Fixed-rate mortgages (FRMs) hit the highest levels of
2008 during the week ended July 24 according to Freddie Mac's
Primary Mortgage Market Survey...
Tue, Jul 29 2008, 7:00 AM
Is it possible that some of the collapses and near misses in the
financial markets over the last six months will ultimately be tied to a
few sick an...
Tue, Jul 29 2008, 7:00 AM
The S&P Case-Shiller U.S. home price index continued
to deteriorate in May as the 20-city composite index posted a record
annual decline of 15.8%....
Tue, Jul 29 2008, 7:00 AM
The Conference Board's consumer confidence index for
July improved to 51.9 in Tuesday's report, against expectations
of a slight decline to 50.0. ...
Tue, Jul 29 2008, 7:00 AM
Consumer confidence for July and the S&P/Case-
Shiller's home price index for May will be the main focus of
Tuesday's economic events with no majo...
Mon, Jul 28 2008, 7:00 AM
The U.S. government plans to issue more debt in the
current quarter than any time in history , the Department
of Treasury said on Monday.
Mon, Jul 28 2008, 7:00 AM
The White House revised its 2008 budget deficit
forecast to $389 billion from $410 billion earlier in February
and its 2009 forecast to $482 billi...
Mon, Jul 28 2008, 7:00 AM
Treasury Secretary Henry Paulson said Monday that
covered bonds are an answer to financial market's request for clarity. He
said covered bonds, a ...
Mon, Jul 28 2008, 7:00 AM
In an interview with the Financial Times over the weekend, Minneapolis
Fed President Gary Stern (voter) said the credit
crunch in the U.S. would...
Mon, Jul 28 2008, 7:00 AM
In a rare weekend meeting, the U.S. Senate passed the housing
bill by 72-13 votes. The legislation now awaits the signature of
U.S. President Geor...
Mon, Jul 28 2008, 7:00 AM
The U.S. dollar was mixed on a quiet day on Monday,
making gains solely against the underperforming Canadian dollar and
British pound.
"The...
Mon, Jul 28 2008, 7:00 AM
Credit risk remains elevated and appetite for risk remains subdued,
though the systemic risk to financial markets is not as elevated as it
was in th...
Fri, Jul 25 2008, 7:00 AM
In May, the New Home Sales Index fell 2.5% to its
second-lowest pace in 17 years, and economists expect another decline in
the June report to be r...
Fri, Jul 25 2008, 7:00 AM
New home sales fell for the seventh of the past eight
months in June, falling by 0.6% to an annual pace of 530k sales. This
rate is much higher tha...
Fri, Jul 25 2008, 7:00 AM
The final consumer sentiment survey from Reuters and
the University of Michigan received a large upward revision from
preliminary estimates in Jul...
Fri, Jul 25 2008, 7:00 AM
Friday's highlights include the release of U.S. durable goods and
new home sales for June along with a final look at
consumer sentiment for the Un...
Fri, Jul 25 2008, 7:00 AM
U.S. new home sales fell marginally in June but the pace was much
higher than expected due to +50k of revisions over the past three months.
Economi...
Fri, Jul 25 2008, 7:00 AM
U.S. home foreclosures soared by 121% in second-
quarter year-over-year results, according to a report issued by
RealtyTrac.
There were 739,714 ...
Thu, Jul 24 2008, 7:00 AM
Initial claims for unemployment benefits in the
United States soared to 406k in the week ending July 19, the highest
level since March, according ...
Thu, Jul 24 2008, 7:00 AM
The U.S National homeowner housing vacancy rate
slipped to 2.8% in the second quarter, a 0.1% decline from the previous
quarter's 2.9% rate, accor...
Thu, Jul 24 2008, 7:00 AM
The Miami Herald's investigative team reported on Sunday that the
state has approved over 10,000 mortgage broker licenses for
convicted felons sin...
Thu, Jul 24 2008, 7:00 AM
U.S. jobless claims and existing home
sales will dominate the scheduled events of the day, along with
testimony from New York Fed President Timo...
Thu, Jul 24 2008, 7:00 AM
U.S. existing home sales fell 2.6% to 4.86 million
units in June following May's unrevised sales figure of 4.99 million.
This is the fourth month ...
Thu, Jul 24 2008, 7:00 AM
"The U.S. housing market continues to be very weak, and with the
inventory of unsold homes continuing to rise we are
unlikely to see any meaningfu...
Thu, Jul 24 2008, 7:00 AM
Testifying before the House Financial Services Committee, SEC
Chairman Christopher Cox said he needs more
authority to have mandatory supervisio...
Thu, Jul 24 2008, 7:00 AM
New York Attorney General Andrew Cuomo said he is
suing UBS AG for misleading investors into buying auction-rate securities
just five months befor...
Thu, Jul 24 2008, 7:00 AM
After the U.S. House of Representatives passed a housing
bill including provisions for the creation of a new GSE
regulator and a liquidity backsto...
Thu, Jul 24 2008, 7:00 AM
"The U.S. and global financial systems are going through a very
challenging period of adjustment. The critical imperative today is to
help facilitat...
Wed, Jul 23 2008, 7:00 AM
Economists largely agree that the Beige Book document
to be released Wednesday by the Federal Reserve won't receive extended
attention from market...
Wed, Jul 23 2008, 7:00 AM
Although he is not pleased with some parts of the
housing bill , U.S. Treasury Secretary Henry Paulson said
it was easy for him to recommend to P...
Wed, Jul 23 2008, 7:00 AM
Speaking in a Bloomberg Television interview, noted
hawk Philadelphia Federal Reserve President Chuck
Plosser said the Fed may have to hike rate...
Wed, Jul 23 2008, 7:00 AM
Canadian CPI tops the economic news of the day as markets receive the
Fed's Beige Book and the Department of Energy's weekly oil inventories.
In the...
Wed, Jul 23 2008, 7:00 AM
Rates for both short- and long-term mortgages tumbled last week
according to Freddie Mac's Primary Mortgage Market Survey.
The Mortgage Bankers As...
Wed, Jul 23 2008, 7:00 AM
Economic conditions across the U.S. "slowed somewhat," according to
the Fed's Beige Book on Wednesday. Five of the 12
districts were said to have ...
Wed, Jul 23 2008, 7:00 AM
Weekly mortgage applications in the United States
declined in the week ending July 18, according to data released from the
Mortgage Bankers' Assoc...
Tue, Jul 22 2008, 7:00 AM
The Federal Reserve Board Discount rate meeting
minutes from May 19 and June 23 show that ten out of twelve
reserve banks voted to leave the disco...
Tue, Jul 22 2008, 7:00 AM
U.S. house prices fell 0.3% month-over-month in May
following April's 0.8% pullback, the Office of Federal Housing Enterprise
Oversight (OFHEO) re...
Tue, Jul 22 2008, 7:00 AM
Less than a week after Securities and Exchange Commission Chairman
Christopher Cox invoked the Commission's emergency powers to regulate
short sell...
Tue, Jul 22 2008, 7:00 AM
Inflation in the U.S. is "too high" and inconsistent with the goals of
the Federal Reserve, whose accommodative policy must be
reversed , said Char...
Tue, Jul 22 2008, 7:00 AM
Canadian retail sales and employment insurance data tops the economic
news for the day as U.S. markets will receive the OFHEO's housing
market inde...
Tue, Jul 22 2008, 7:00 AM
Speaking at the New York Public Library, U.S. Treasury Secretary
Henry Paulson said Fannie Mae and Freddie Mac are vital
to the U.S. financial sys...
