Archive for June, 2016
Thursday, June 23rd, 2016
Via Stephen Stanley at Amherst Pierpont Securities:
New home sales predictably fell back in May after spiking in April. The May reading of 551K, down 6% from a downwardly-revised 586K pace in April, is still quite healthy, well ahead of the Q1 average of 524K and the 2015 tally of 501K. ...
Posted in Uncategorized | Comments Off on New Home Sales
Thursday, June 23rd, 2016
Via Bloomberg:
What to Watch for as the Night Unfolds
Voting will take place all day today, with polling stations closing at 10 p.m. local time. Once polling stations close, politicians, investors and the public will face an anxious couple of hours before the first results are announced. Wherever you ...
Posted in Uncategorized | Comments Off on AS UK Vote Unfolds
Thursday, June 23rd, 2016
Via Marc Chandler at Brown Brothers Harriman:
R-Day is Here, but Can it Prove Anti-Climactic?
Latest polls consistent with drift toward remain
Betting, events and capital markets are more decisive anticipating UK remains in the EU
Foreign investors sell Japanese bonds for the first time since the end of March
...
Posted in Uncategorized | Comments Off on FX
Thursday, June 23rd, 2016
Via Reuters:
LONDON, June 23 (Reuters)- - Euro zone business growth decelerated more than expected this month, suggesting the current quarter's economic performance won't match the strong pace set at the start of the year, a survey showed.
A surprising bounce in manufacturing activity was not enough to offset a marked slowdown ...
Posted in Uncategorized | Comments Off on Service Sector Slows in Europe
Thursday, June 23rd, 2016
Via Bloomberg:
IG CREDIT PIPELINE: Long List Awaits When Timing Is Right
2016-06-23 09:48:30.200 GMT
By Robert Elson
(Bloomberg) --
LATEST UPDATES
* Sumitomo Life (SUMILF) A3/BBB+, to hold an investor meeting
July 19, via BofAML; focus to be on hybrid capital
* It last priced a USD deal in 2013
* Korea Gas (KORGAS) Aa2/A+, has mandated C/CS/HSBC/JPM/SG/UBS
to ...
Posted in Uncategorized | Comments Off on Credit Pipeline
Thursday, June 23rd, 2016
Via Bloomberg:
Fund says U.S. to grow 2.2% this year, down from 2.4% in April
Fed should err on side of letting inflation overshoot: IMF
The International Monetary Fund cut its forecast for U.S. growth this year, urging the Federal Reserve to lean toward modestly overshooting its inflation target in considering ...
Posted in Uncategorized | Comments Off on IMF Cuts US Growth Forecast
Thursday, June 23rd, 2016
This story caught my eye as it directly impacts your humble correspondent. In addition the private company from which my wife receives coverage has informed us that it plans to hike rates in 2017 by 28 percent. I believe that is subject to final approval by the New York State ...
Posted in Uncategorized | Comments Off on Medicare Premiums May See Steep Rise
Thursday, June 23rd, 2016
Via Bloomberg:
As private businesses tighten belts, government is stepping in
Spending supports growth, leads to higher government debt
China is stepping up stimulus by stealth in its efforts to ensure hitting the leadership’s growth target this year, with moves that will enhance the role of the state even as policy ...
Posted in Uncategorized | Comments Off on Stealth Stimulus in China
Thursday, June 23rd, 2016
Via WSJ:
Millions of U.S. Consumers Are Escaping Subprime
Percentage of Americans with subprime scores has fallen to the lowest in more than a decade
By AnnaMaria Andriotis
June 22, 2016 5:30 a.m. ET
The percentage of Americans with subprime credit scores has fallen to the lowest level in more than a decade, a development ...
Posted in Uncategorized | Comments Off on Happy Days Are Here Again
Thursday, June 23rd, 2016
Via Kit Juckes at SocGen:
<http://www.sgmarkets.com/r/?id=h10c83f84,1768efb7,1768efb8&p1=136122&p2=6490662ecfea10b735ffb6af88f5d956>
Guessing what the reaction to a once-in-a-lifetime event would be is a tall order, but I've had a go. My first thought is that it's less symmetric now that it was a week ago. The final pre-vote poll (from ComRes) showed a small majority for ‘Remain' ...
Posted in Uncategorized | Comments Off on Early FX