Archive for December, 2006
Loans rates again hit by US economic data
US Government bonds suffered further falls on Thursday after a second day of strong US economic data dented investors’ hopes of a near-term interest rate cut in the world’s largest economy. Existing US home sales rose in November, adding to other recent encouraging housing numbers, while other figures showed US consumer confidence surging to an [...]
December 29, 2006
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Loans rates rise on US housing data
Loans rates around the globe fell yesterday as investors reacted to a higher than expected rise in new homes sales in the US. Sales of new homes rose 3.4 per cent in November to a seasonally adjusted annual rate of 1.047m homes, beating market expectations. The data dampened hopes of an interest-rate cut by the [...]
December 28, 2006
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Review of 2006- borrowers ride wave of liquidity
A wave of global liquidity helped spur world markets higher in 2006 with gains for equities, bonds, commodities and property. US and European markets produced double-digit returns, and emerging markets did even better. Chinese shares stormed ahead as did zinc, nickel and the Thai baht. Investors could have made bad choices – Turkish and Israeli [...]
December 27, 2006
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Christmas lends a hand to weak US data
Holiday trading surroundings dampened the impact of yesterdays weaker than expected US economic data. Q3 growth was yesterday revised down to 2.0% from the previous reading of 2.2%, which was down from the Q2 growth rate of 2.6%. Today focus may be on the Fed’s preferred estimate on inflation, the core PCE price index, which [...]
December 22, 2006
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Quiet refinancing day
Refinancing and lenders had a quiet day with profit taking and positioning ahead of today’s data and the Christmas period driving the market. The Bank of England minutes released yesterday showed the BoE were still concerned about inflation pressures from money growth, investment and housing data. This has the market looking for another 25bp hike [...]
December 21, 2006
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UK and euro loans still expected to rise next year
On the UK front housing prices rose in November for a 13th consecutive month, helping suggest the Bank of England will raise interest rates at least 25bp next year. Elsewhere the Thai Baht was hammered after the Thai central Bank announced regulations on foreign currency inflows designed to curb speculation in the Thai Baht. This [...]
December 20, 2006
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Refinancing rates steady in quite trading
US government bonds were steady in quiet trading on Monday although important data due this week maintained the pressure on European issues and UK gilts continued to suffer. US Treasury investors largely shrugged off news of a record current account deficit and looked ahead to housing and inflation data due out on Tuesday. The current [...]
December 19, 2006
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Amercan loans rates weakens on capital inflows
The US Dolla initially fell across the board after US inflation came in relatively benign increasing the talk of an interest rate cut by the Fed in quarter 1 of next year. The CPI was unchanged versus an expectation of a 0.2% increase. Furthermore a robust increase in capital inflows into the United States put [...]
December 18, 2006
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Yet more glory for the British Shopkeeper…
As today’s blog heading suggests, there is yet more good news this morning. Yesterdays UK Retail Sales showed an annual increase of 3.2% against expectation of 2.9% and a monthly rise of 0.3% against an expectation of zero. So be warned, this week we have seen unemployment down and a retail boom. If you haven’t [...]
December 15, 2006
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Treasuries loans rates fall after strong retail numbers
A surprise jump in US retail sales hit government bonds in the US and Europe on Wednesday, prompting a reversal of gains made in response to comments from the Federal Reserve on Tuesday after it left interest rates unchanged. The Fed hinted at heightened risks to economic growth, helping bond prices to rally in expectation [...]
December 14, 2006
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