February 4, 2012

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Obama Reviewed, China, TARP Update, Bank of England, Wal-Mart Indicator

November 6, 2008 By Leave a Comment
walmart

Obama Election Reviewed Everyone is jumping in with there review and assessment of President-elect Obama. Here is what the financial services wonks are saying: Blown Mortgage is tracking Obama's Housing Promises Henry Blodget on the Yahoo! TechTicker is noting Obama already reseting expectations Wall Street Journal is ttracking Economists reactions to Obama Paul Kedrosky says Wall Street doesn't care China Crash Debated Economist Nouriel Roubini, noted economic doomsdayer often attributed … [Read more...]

Obama Wins, New Treasury Secretary, Making Your Own Success

November 5, 2008 By 2 Comments
obama

Obama Wins Historic Election, Now What? No question this was a historic election on many counts. However, the big question looms: We are beyond the campaign promises, now what do we really get? This was a campaign filled with a boat-load of promises, walking into a fist full of problems. I hope the "Hope" American's elected delivers the hope we expected--we will certainly get change. Handicapping the New Treasury Secretary We have already jumped into the Cabinet guessing game. Dealbreaker is … [Read more...]

Weekend Notes: The Loan Modification Edition

November 1, 2008 By Leave a Comment
home loan modifications

Loan Modification Plans The US government and JP Morgan Chase race to massive loan modification plans. Naked Capitalism reviews the JP Morgan plan with skepticism: So despite the use of mortgage counsellors, borrowers are NOT being assessed on an individual basis. I hate to sound like a perennial skeptic, but I doubt that these programs will be terribly successful (although pushing foreclosures off even two or three quarters will probably make the bank's financials look better, and they … [Read more...]

Consumer Squeeze, Charlie Gasparino, Election Trades, FDIC Loan Modifications, Consumer Capitulation, Deflation/Reflation Whipsaw

October 31, 2008 By Leave a Comment

Consumer Squeeze is On Minyanville does a nice analysis, using the Star Wars Death Star garbage masher analogy, of the consumer conundrum--damned for credit, and damned if you save. Consumers are certainly being pinched at both ends as the US government keeps trying to unfreeze credit by driving down interest rates. The result? Lenders are getting more attractive rates by "borrowing" from consumers tax dollars, than bidding for their savings. Therefore, savings rates are down and lending is not … [Read more...]

GDP, Mortgage Bonds, Zero Interest Policy, Renters for Obama, Stop Being Bearish

October 30, 2008 By Leave a Comment
googlesoupline-093x093

GDP Swings Low, Sweet ... Well it is official, we're contracting. Consumers are hoarding their cash (taking queues from the banking sector). Unlike the recession of 2001 consumers will not be borrowing their way through hard time--try to find a home equity line of credit these days. They're calling it a recession: “This is the first of a run of negative G.D.P. numbers,” said Ian Shepherdson of High Frequency Economics. “The economy is in recession.” He predicted that the economy would … [Read more...]

Fed Lowers Rate 0.5% to 1%, But is There More?

October 29, 2008 By Leave a Comment
fomc meeting

Aaron Task presents a great Fed premonition. The Fed might not be done. In fact, it seems pretty clear they are locked into a recessionary outlook and few ideas for a short-term recovery. Recent policy actions, including today’s rate reduction, coordinated interest rate cuts by central banks, extraordinary liquidity measures, and official steps to strengthen financial systems, should help over time to improve credit conditions and promote a return to moderate economic growth. Nevertheless, … [Read more...]

Yields Spread Mortgage Rates Rise, Homebuilders Housing Fix, Soros on Denmark Mortgage Market, Your $700 Billion at Work

October 28, 2008 By Leave a Comment
halloween

Yields Spread and Mortgage Rates Rise Fannie, Freddie, and Ginnie mortgage bonds continue to pull away from US Treasuries. The difference between yields on Washington-based Fannie's current-coupon 30-year fixed-rate bonds and 10-year U.S. Treasuries rose about 21 basis points to 224 basis points as of 4:30 p.m. in New York, data compiled by Bloomberg show. That's up from 162 basis points, or 1.62 percentage point, on Oct. 20. "It is the deleveraging,'' Mohamed El-Erian, the co-chief executive … [Read more...]

Asian Markets Down, Where is the Bottom, Rethinking Capitalism, and JP Morgan Will Not Lend

October 27, 2008 By Leave a Comment
capitalism

Asian Markets Take Another Dip Asian markets continue to tumble on real fears of global recession. Compounded by the already tightly intertwined system of banking and commercial equity positions. Much of these riskier equity positions, unlike US Banks are counted toward their regulatory capital requirements. This latest Asian market plunge is signalling another dangerous day on Wall Street. How many bullets can the market dodge? If we do get a real free fall what do you do? By the way don't … [Read more...]

OPEC, Pending Market Crash, Credit Cards, AIG Collapse, Keynesian?, Todd Carpenter for NAR Social Media

October 24, 2008 By Leave a Comment
Todd Carpenter for NAR Social Media

OPEC Orders Cut in Production Just in case you had any doubt that we need immediate energy independence or have a Middle East that has the least bit of concern for the global economy--OPEC orders a cut in oil production. Is Russia the answer? Futures Off 6.5%, Watch for a Big Ride Today Asian and European markets tumbled overnight, 10 percent and 6 percent respectively and futures are showing 6.5 percent decline. The Big Picture wonders if we will trigger NYSE circuit breakers today. Credit … [Read more...]

Mortgage Meltdown Swag, Bank Losses, Foreclosures Jump, My New Favorite Market Pundit

October 23, 2008 By Leave a Comment
http://site.despair.com

Where are Mortgage Rates Headed? Spreads showing tightening, but government keeps throwing curve balls on their own objectives. My shot at a mortgage rate forecast. Appropriate Mortgage Meltdown Swag Get your "We're the Government and We're Here to Help" mortgage meltdown swag. Major Banks Post Record Losses, Some Getting Investment Wachovia tips the scales with a staggering $23.7 billion quarterly loss! But, that is not the most incredible part. This latest loss makes it like Wachovia never … [Read more...]