Steven's Feed
Aug 27, 2013

U.S. home prices rise but at slower pace, consumers optimistic

NEW YORK, Aug 27 (Reuters) – U.S. home prices rose in June,
extending a multi-month rebound, though the pace of gains
cooled, suggesting higher mortgage rates may end up slowing
momentum as the year winds down.

Separate data released on Tuesday showed consumer confidence
rebounded in August. Consumers were more optimistic about the
future even though their assessment of their current standing
fell.

Aug 22, 2013

In U.S., China, Europe, data points to global rebound

NEW YORK/LONDON (Reuters) – Business surveys on Thursday suggested the world economy was on the mend, with U.S. and Chinese manufacturing activity at multi-month highs and better-than-expected growth in the euro zone.

The data should bolster the case for the Federal Reserve to start withdrawing support for the U.S. economy this year – possibly as soon as next month – and enhance the appeal for investors of developed economies in North America and Europe.

Aug 21, 2013

Few clues on timing of QE3 reduction in Fed minutes

NEW YORK (Reuters) – A few Federal Reserve officials thought last month it would soon be time to slow the pace of their bond buying “somewhat” but others counseled patience, according to meeting minutes that offered little hint on when the U.S. central bank might reduce its purchases.

The minutes of the Fed’s July 30-31 meeting, released on Wednesday, showed that almost all of the 12 members of the policy-making Federal Open Market Committee agreed changing the stimulus was not yet appropriate.

Aug 19, 2013

U.S. bond yields hit 2-year high; emerging currencies slide

NEW YORK (Reuters) – U.S. benchmark bond yields hit a two-year high on Monday and emerging market currencies from India to Indonesia tumbled as markets braced for the Federal Reserve to start withdrawing support for the U.S. economy.

U.S. stocks were mixed while political uncertainty in Italy hurt Italian bank shares, dragging down the broader European market. Fear that the Fed will scale back stimulus spending next month battered Wall Street last week, with the Dow industrials putting in their worst weekly run of the year.

Aug 19, 2013

U.S. bond yields hit two-year high, emerging currencies slump

NEW YORK (Reuters) – U.S. bond yields hit a two-year high on Monday and emerging market currencies from India to Indonesia tumbled as markets braced for the Federal Reserve to start withdrawing support for the U.S. economy.

U.S. stocks were mixed as trading began but then edge higher, while European shares slipped. Fear that the Fed will scale back stimulus spending next month battered Wall Street last week, with the Dow industrials putting in their worst weekly run of the year.

Aug 15, 2013

August U.S. homebuilder confidence close to eight-year high

NEW YORK (Reuters) – U.S. homebuilder confidence neared an eight-year high in August as limited supply of new and existing homes and strong buyer demand outweighed higher mortgage rates, data from the National Association of Home Builders on Thursday showed.

The NAHB/Wells Fargo Housing Market index rose to 59 this month, its fourth consecutive monthly gain and best showing since November 2005. July’s reading, initially reported at 57, was revised to 56.

Aug 14, 2013

U.S. mortgage applications slip despite rate decline-MBA

NEW YORK, Aug 14 (Reuters) – Applications for U.S. home
loans fell last week to their lowest level in more than a month
despite a slight decline in interest rates, data from an
industry group showed on Wednesday.

The Mortgage Bankers Association said its seasonally
adjusted index of mortgage application activity, which includes
both refinancing and home purchase demand, slipped 4.7 percent
in the week ended Aug 9. That was the largest decline since the
week ending June 28.

Aug 5, 2013

British business booms in July, U.S. services recover

NEW YORK/LONDON (Reuters) – British businesses boomed and activity at euro zone companies expanded, albeit modestly, in July for the first time in 18 months, while growth in the U.S. services sector rebounded from a three-year low.

The data suggested economic recovery in the UK and U.S. economies was gathering steam, raising questions about the proper amount of monetary stimulus needed in those countries.

Aug 2, 2013

Fed buys itself some time in push to wind down stimulus

NEW YORK (Reuters) – The Federal Reserve secured itself some wiggle room this week with the tactical deployment of three words in its policy statement: “modest,” “mortgage” and “inflation.”

In a statement many had expected to set the stage for a reduction in the central bank’s massive stimulus starting as early as September, Fed officials’ use of those three words instead introduced some doubt about their confidence in the strength of the economic recovery.

Aug 1, 2013

Europe’s factories grow, U.S. manufacturing at 2-yr high

NEW YORK/LONDON, Aug 1 (Reuters) – U.S. manufacturing grew
in July at its fastest pace in two years while European
factories snapped a two-year run of declining output, suggesting
a prolonged euro zone recession may be near its end.

Output at British factories also surged last month,
according to business surveys released on Thursday, while an
index of China’s massive manufacturing sector suggested the
slowdown in the world’s No. 2 economy may be stabilizing.