Ryan's Feed
Oct 21, 2013
via Data Dive

Are higher rates taking a bite out of home sales?

 

 

“U.S. home resales fell in September and prices rose at their slowest pace in five months, the latest signs higher mortgage rates were taking some edge off the off the housing market recovery,” Reuters reports today. Economists told Reuters that the results could be chalked up to rising interest rates, stagnant salaries and high real estate prices. Here’s more:

The National Association of Realtors said on Monday home sales fell 1.9 percent to an annual rate of 5.29 million units. August’s sales pace was revised down to 5.39 million units from the previously reported 5.48 million units.

Oct 18, 2013
via Data Dive

Welcome to Data Dive

Welcome to Data Dive

Oct 17, 2013
via Counterparties

Dysfunction quantified

Welcome to the Counterparties email. The sign-up page is here, it’s just a matter of checking a box if you’re already registered on the Reuters website. Send suggestions, story tips and complaints to Counterparties.Reuters@gmail.com.

Just how badly did Congressional dysfunction manage to hurt the US economy? Macroeconomic Advisers is out with a report prepared for the Peter G. Peterson Foundation, a nonprofit dedicated to deficit-cutting, that tries to quantify Washington’s recent failures. Since 2010, the report finds, a combination of spending cuts and uncertainty have trimmed America’s annualized GDP growth by as much as 1 percentage point. That doesn’t include the impact of the 16-day government shutdown, which S&P says could take $24 billion out of the economy.

Oct 8, 2013
via Counterparties

Emerging slowdown

Welcome to the Counterparties email. The sign-up page is here, it’s just a matter of checking a box if you’re already registered on the Reuters website. Send suggestions, story tips and complaints to Counterparties.Reuters@gmail.com.

The IMF’s latest projections on the fate of the world economy are out: if you’re interested in 249 pages of “Transitions and Tensions,” which is this year’s theme, read the full report. The shorter version is that the world economy, the IMF writes, is in “low-gear”. The US is engaging in “excessive fiscal consolidation” (read: the sequester and shutdown); Japan’s economy is growing, but fiscal policy should tighten next year; and the Euro area is “tepid.” The Economist breaks the report down in interactive chart form. As Reuters notes, this is the sixth straight time in less than two years that the IMF has cut its global growth forecasts.

Oct 2, 2013
via Counterparties

Banks looking fine

Welcome to the Counterparties email. The sign-up page is here, it’s just a matter of checking a box if you’re already registered on the Reuters website. Send suggestions, story tips and complaints to Counterparties.Reuters@gmail.com.

“I haven’t seen morale this bad since the Titanic,” a financial services recruiter told the WSJ in a story about the increasingly dour world of big banks. That nasty third quarter outlook can be chalked up to slumping mortgage sales, lower trading — and, once again, seemingly endless fines. Since the crisis, Bloomberg writes, overall legal costs, including whopping regulatory fines, have hit nearly $103 billion for America’s six largest banks. Roughly half of those costs are made up of payments to mortgage investors.

Sep 23, 2013
via Counterparties

A boom in solicitousness, generally

Welcome to the Counterparties email. The sign-up page is here, it’s just a matter of checking a box if you’re already registered on the Reuters website. Send suggestions, story tips and complaints to Counterparties.Reuters@gmail.com.

It’s a big day for solicitation. Thanks to provisions in the JOBS Act that go into effect today, startups can now openly take to the Internet to ask for investment dollars from wealthy investors. Meanwhile, hedge funds are now also free to advertise — along with, as the NY Post suggests, more subtle changes “such as fund managers talking openly about their performance to reporters and on television.”

Sep 17, 2013
via Counterparties

Median household stagnation

Welcome to the Counterparties email. The sign-up page is here, it’s just a matter of checking a box if you’re already registered on the Reuters website. Send suggestions, story tips and complaints to Counterparties.Reuters@gmail.com.

“This isn’t a lost decade for economic gains for Americans. It is a lost generation”, Neil Irwin writes after reading today’s new census data covering 2012. The typical American family, he says, made less in 2012 than it did in 1989.

Sep 16, 2013
via Counterparties

A short list of candidates to be the next Fed chief

With political opposition mounting against him, former Treasury Secretary Lawrence Summers pulled his name from consideration on Sunday as the next chairman of the Federal Reserve. Here are some of the other people who could be considered to lead the Fed, in the expectation that chairman Ben Bernanke won’t seek re-appointment when his second term at the central bank ends in January.

Janet Yellen

Janet Yellen, the Fed’s vice chairwoman, is widely seen in financial markets as the leading contender. Ezra Klein said if Yellen is named the head of the U.S. central bank, she would be “the most qualified Federal Reserve chair in memory”.

Sep 12, 2013
via Counterparties

Done Dell

Welcome to the Counterparties email. The sign-up page is here, it’s just a matter of checking a box if you’re already registered on the Reuters website. Send suggestions, story tips and complaints to Counterparties.Reuters@gmail.com.

After months of wrangling, shareholders today approved Michael Dell and Silver Lake Partners’ $25 billion plan to take the computer-maker private. Devin Banerjee notes that it’s the biggest leveraged buyout since Blackstone bought Hilton for $26 billion in 2007.

Sep 9, 2013
via Counterparties

Lehmanniversary

Welcome to the Counterparties email. The sign-up page is here, it’s just a matter of checking a box if you’re already registered on the Reuters website. Send suggestions, story tips and complaints to Counterparties.Reuters@gmail.com.

“The world won’t understand.” That’s a seemingly exasperated former SEC chair Mary Schapiro after a hearing in 2011 that the agency she led wouldn’t bring charges against Lehman Brothers execs for their role in the bank’s 2008 collapse. The bank’s downfall just so happened to set off the biggest financial crisis since the Depression.