Monday economic releases: • At 8:30 AM ET, Retail sales for April will be released. The consensus is for retail sales to decline 0.3% in April, and to decline 0.1% ex-autos. Note: Some of the decline will be due to lower gasoline prices. • At 10:00 AM, Manufacturing and Trade: Inventories and Sales (business...
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A major revision to GDP is coming this summer, from Robin Harding at the Financial Times: Data shift to lift US economy 3% The US economy will officially become 3 per cent bigger in July as part of a shake-up that will see government statistics take into account 21st century components such as film...
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First on the recession in the Euro Zone from Jim Hamilton: Europe in recession The Business Cycle Dating Committee of the Centre for Economic Policy Research (the European counterpart of the U.S. NBER) last week issued a declaration that Europe entered a new recession a year ago, dating the business cycle peak at 2011:Q3....
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UPDATE: US Markets closed on Monday. From NBC abd Reuters: NYSE and Nasdaq to close on Monday due to Hurricane Sandy U.S. stock trading will be closed on Monday and possibly Tuesday in response to Hurricane Sandy, NYSE Euronext said late on Sunday. NYSE Euronext, which runs the New York Stock Exchange, had previously...
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First, from the Financial Times on “open-ended QE”: Bleak jobs outlook raises heat on Fed In an interview with the Financial Times, forecast that unless “further action” was taken, there would be a lack of progress in boosting the jobs market … He added that there would also...
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Nick Timiraos at the WSJ has some details about the settlement. He also writes that the settlement documents might be filed in court tomorrow. Here is the online site for the mortgage settlement. Note the “National Mortgage Settlement (coming soon)” in the upper right. From Timiraos: Mortgage Deal Is Built on Tradeoffs Settlement documents,...
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Leaders in government and finance came out swinging after Standard & Poor's downgraded the U.S. sovereign debt  rating from triple-A to double-A Friday afternoon, with Treasury Secretary Timothy Geithner telling CNBC the move showed terrible judgment and Warren Buffett sounding off on Fox News for a brief moment saying it doesn't make sense. S&P...
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A look at stories across HousingWire's weekend desk, with more coverage to come on bigger issues: Staff at the Office of Thrift Supervision will begin their transfer to the Office of the Comptroller of the Currency Monday. Under Dodd-Frank, the OCC will absorb the OTS and operate as a single agency beginning Thursday –...
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A look at stories across HousingWire's weekend desk, with more coverage to come on bigger issues: With hours to spare Friday night, Congress agreed to a budget that would keep the government from shutting down for the first time since 1995. The agreement kept the Federal Housing Administration and nonessential programs under the Department...
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A look at news across HousingWire's weekend desk, with more coverage to come on bigger issues: On Saturday, R.K. Arnold retired as president and chief executive of Mortgage Electronic Registration Systems. Paul Bognanno was named to serve as interim president and CEO until a replacement is found. Arnold helped develop MERS, which is a...
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