Evening Reading -December 8, 2010
FT Alphaville on U.S. and European sovereign bonds * BeyondBRICs on Vale Hong Kong listing * Calculated Risk on commercial real estate * The Big Picture on amusing Google
Archive for December 8th, 2010
MBA Mortgage Applications Down 0.9%
MBA mortgage applications fell 0.9%; Prior reading was a decrease of 16.5%; On year level MBA Basic Index is down 9.3%.
MBA Refinancing index fell -1.4%; Prior reading was a decrease of 21.6%; On year level MBA Refinancing Index is down 8.0%.
MBA Purchase Index rose 1.8%. Prior reading was in increase of 1.1.%; On year level MBA Purchase Index is down 12.7%.
Bond Market Challenging FED Goals?
The bond sell-off was much hyped across the media and various commentators have provided various explanations. From my point of view all of the reason’s given don’t make much sense. So, we’ll have to wait and see if something meaningful comes along.
I’ll only repeat the famous phrase ” Don’t fight the FED”, especially taking into account that they (FED) have proved that they are capable of doing everything needed to achieve their goals.
Morning Reading – December 8, 2010
FT Alphaville on (third) failed German government bond auction and yesterday’s sell-off in the U.S. treasuries * Macro Man on gold and (again) yesterday’s sell-off in the U.S. treasuries * Econbrowser on correlation between money base growth and inflation * Calculated Risk on tax cuts and (extended) unemployment benefits and * The New York Times on tax cuts.