Archive for September, 2006
US and UK loans outlook mixed
The pound fell nearly 1 per cent against the dollar and euro yesterday as the markets digested the news released by the UK’s Office for National Statistics (ONS) regarding their admittance to a calculation error yesterday. The ONS said it had cut its estimate for overall inflation for goods and services produced by British companies [...]
September 29, 2006
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Mixed messages for UK and US loans rates rises
A disappointing set of US durable goods figures were later followed by better-than-expected US new home sales data, which further eased concerns about a sharp downturn in the housing market. A string of weak US data last week sparked talk of an early interest rate cut by the Federal Reserve, but stronger economic figures this [...]
September 28, 2006
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US home loans rates improve
The US Conference Board said its consumer confidence index rose to 104.5 in September from an upwardly revised reading of 100.2 in August. The market consensus was for a much more modest rise to 103.0 from the provisional reading of 99.6. Stronger than expected reports on confidence yesterday and existing home sales on Monday has [...]
September 27, 2006
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Home loans sales data not as bad as feared
Figures released yesterday afternoon by the National Association of Realtors showed that US existing home sales fell 0.5 percent to 6.3mn units in August from the previous month. Although this is the lowest level since January 2004, analysts had expected a bigger drop to 6.102mn units from July’s original estimate of 6.33mn units, in line [...]
September 26, 2006
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Slowing US economy causes loans arte to fall
The US Dollar fell for a fourth day against the Pound and Euro on speculation US reports will add to evidence of a slowdown in the economy, prompting more investors to bet the Federal Reserve will cut interest rates. The dollar had fallen to over two-week lows against major currencies earlier in the day in [...]
September 25, 2006
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Slowing US momentums worries loans market
A surprise drop in regional factory activity reported on Thursday suggested that the U.S. economy may be losing momentum faster than expectations and brought about conversations of a possible cut in interest rates from the Fed to avoid recession. The Philadelphia Federal Reserve Bank said its business activity index tumbled to -0.4 in September from [...]
September 22, 2006
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US loans remain on hold with accompanying statement flat
The US FED’s rate decision was to keep the rate on hold at 5.25 percent. This should leave the markets content to continue to price in no resumption of Fed tightening, particularly against the backdrop of the benign inflation data and soft housing numbers for August (released over the past weeks). A growing number of [...]
September 21, 2006
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US trade flows worry refinance market
Worries grew in the US refinance market when the US Treasury revealed that portfolio capital flows to the US slowed sharply, to their lowest level in over a year, during July. Inflows during the month totaled just 32.9 bln usd in July, down from 75.1 bln in June and their lowest level since May 2005. [...]
September 19, 2006
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G7 meeting dominates interest rates thinking
The main headline this morning surrounds the G7 meeting. The major issue was the omission of the request for China to strengthen the yuan. Also in the headlines was ECB’s Gonzalez-Paramo stating that the ECB still sees growth in the euro zone intact despite prospects of further interest rate increases. When asked whether current interest [...]
September 18, 2006
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Loans markets offering support on interest rate hints
As has been the recurrent theme of the week in the loans markets, it appeared that the implications of interest rate hikes are enough to send markets in one direction or the other, reacting quickly to data releases that give even a hint of when and where future rate rises will come in. Yesterday saw [...]
September 15, 2006
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