Archive for May, 2016
Monday, May 30th, 2016
Via Bloomberg:
Biggest mortgage bank warns house prices could start falling
Amanda Billner
May 30, 2016 — 12:01 AM EDT
In Sweden’s capital, it’s so difficult to find a place to live that even Spotify is complaining. A protracted period of negative interest rates, coupled with a chronic housing shortage, has pushed property prices ...
Posted in Uncategorized | Comments Off on Swedish Bubble
Monday, May 30th, 2016
Via Bloomberg:
Abe Set to Postpone Sales Tax Hike, Ruling Party Officials Say
Isabel Reynolds
IsabelRTokyo
Takashi Hirokawa
May 29, 2016 — 11:51 PM EDT
Japanese Prime Minister Shinzo Abe wants to put off a planned sales tax increase for 2 1/2 years, two ruling Liberal Democratic Party officials said Monday, as Abe prepares to end ...
Posted in Uncategorized | Comments Off on Abe to Postpone Japan Tax Hike
Sunday, May 29th, 2016
This story reads as though it was published in The Onion rather than the NYTimes. It seems that there is a glut of $100 million homes.
Via the NYTimes:
A Worrisome Pileup of $100 Million Homes
By ROBERT FRANKMAY 28, 2016
Photo
An apartment at the Pierre Hotel in Manhattan is on the market for ...
Posted in Uncategorized | Comments Off on Hard Times For the Rentier Class
Sunday, May 29th, 2016
Saint Louis Fed President Bullard has spoken in South Korea and he opines that markets are well prepared for a rate hike this summer. He thinks it will go off "smoothly". He may rue that comment someday.
Via Reuters:
St. Louis Federal Reserve President James Bullard said on Monday global markets appear ...
Posted in Uncategorized | Comments Off on Bullard Speaks in Asia
Sunday, May 29th, 2016
Via WSJ:
By Nicole Friedman
May 28, 2016 5:33 a.m. ET
56 COMMENTS
Oil-supply outages are at their highest level in more than a decade, bolstering the “fear premium” that has helped push crude prices to $50 a barrel.
About 3.5 million barrels a day worth of production is off line because of disruptions such ...
Posted in Uncategorized | 2 Comments »
Sunday, May 29th, 2016
Via Marc Chandler at Brown Brothers Harriman:
Drivers for the Week Ahead
The shift in expectations for a resumption of the Fed's gradual normalization of monetary policy is a potent force that has fueled the greenback's recovery
Given that the dollar has rallied four weeks and the risk-reward favors waiting until ...
Posted in Uncategorized | Comments Off on FX
Saturday, May 28th, 2016
Via Stephen Stanley at Amherst Pierpont Securities:
This week is the homestretch, as a flurry of important data releases will provide Janet Yellen with the last inputs into her economic outlook speech for June 6 as well as helping to determine the FOMC’s decision on June 15. Yellen made clear last ...
Posted in Uncategorized | Comments Off on Thoughts on the Upcoming Week
Thursday, May 26th, 2016
Via the Atlanta Fed:
Latest forecast: 2.9 percent — May 26, 2016
The GDPNow model forecast for real GDP growth (seasonally adjusted annual rate) in the second quarter of 2016 is 2.9 percent on May 26, up from 2.5 percent on May 17. The forecast for second-quarter real gross private domestic investment ...
Posted in Uncategorized | 1 Comment »
Thursday, May 26th, 2016
Via Stephen Stanley at Amherst Pierpont Securities:
Durable goods orders surged by 3.4% in April, but the bulk of the increase came from the volatile defense and aircraft sectors. Defense bookings had spiked from $9.6 billion to $15 billion in March so naturally I projected a pullback. Instead, the military spending ...
Posted in Uncategorized | 1 Comment »
Thursday, May 26th, 2016
Via Marc Chandler at Brown Brothers Harriman:
Dollar Softer in Consolidation Mode
The US dollar is trading with a softer bias today after the momentum stalled yesterday
In addition to the dollar's consolidation, the other feature continued recovery in oil prices
The details of the UK's Q1 GDP were reported
Qatar ...
Posted in Uncategorized | Comments Off on FX