S&P: U.S. Consumer Defaults Fall In March. Existing Home Sales Rise

U.S. Consumer Defaults Fall In March. Existing Home Sales Rise (00:18:36 min)

The Standard & Poor's/Experian consumer default composite index fell to 2.43% in March from 2.54% in February. All the major sectors, such as bank cards, auto loans, and first and second mortgages, reported declines. As for U.S. housing, sales of existing homes increased 3.7% in March following a significant decline of 8.9% February. In this podcast, Standard & Poor's Senior Director Erkan Erturk discusses the significance of these statistics and how they could affect the structured finance and housing sectors.

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CNN Money: Europe at the precipice

Europe at the precipice
Posted by Colin Barr
April 22, 2011 4:33 am

Here's an unhappy early Easter thought: The financial crisis is about to be reborn in Europe.

Is the euro a basket case?

Bondholders are bracing as Greece, Portugal and Ireland come to grips with huge debts and sinking economic prospects. Rumors have a Greek restructuring happening as soon as this weekend, though analysts at Goldman Sachs say next year is more likely.

Bloomberg: Economic Outlook Brightens on Leading Indicators, Confidence

Related News: Economy · U.S. · Municipal Bonds
Economic Outlook Brightens on Leading Indicators, Confidence
By Alex Kowalski and Timothy R. Homan - Apr 22, 2011 5:36 AM GMT+0900

The index of U.S. leading indicators increased for a ninth month in March and Americans’ confidence rose for a fourth week, signaling the expansion may withstand higher fuel costs.

S&P: Why Italian Banks Face A Tricky Recovery

Why Italian Banks Face A Tricky Recovery (00:15:32 min)

Italy's banks are slowly digging out of one of the deepest recessions in the past half century, as the country's GDP declined a cumulative 6% in 2008-2009. But banks are climbing over difficult and new terrain, such as persistently slow domestic economic growth, much higher prices for wholesale funding due to sovereign credit worries in the eurozone, and tougher capital rules in the run-up to Basel III. In this podcast, Standard & Poor's credit analyst Renato Panichi provides an in-depth look at the situation and what could lie ahead.

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WSJ: Asia Central Banks Intervene As Currencies Climb

ASIA BUSINESS|APRIL 20, 2011, 6:43 A.M. ET
Asia Central Banks Intervene As Currencies Climb

By MARTIN VAUGHAN

Agence
France-Presse
/Getty Images

SINGAPORE—Central banks in South Korea, Thailand and Malaysia intervened Wednesday to slow a surge in their currencies in a broad Asian rally that carried the Singapore and Australian dollars to fresh highs against the U.S. currency.

WSJ: China Plans Tax Cut for Low Earners

ASIA NEWS|APRIL 20, 2011, 8:44 A.M. ET
China Plans Tax Cut for Low Earners

By AARON BACK

A Beijing worker
washes a window

BEIJING—China plans to cut taxes on low-income earners and raise them somewhat for the rich under new legislation expected to pass shortly, one effort to address a widening income gap thought to threaten the country's social stability.

Reuters: Gold breaks $1,500 as investors seek security

Gold breaks $1,500 as investors seek security

By Jan Harvey
LONDON | Wed Apr 20, 2011 4:12pm EDT

(Reuters) - Gold rose above $1,500 an ounce on Wednesday for the first time ever as the dollar wilted, oil rose, worries over the U.S. economic outlook boosted demand for the metal as a haven and rising inflation lifted Asian demand.

Bloomberg: Banks Await Foreclosure Deal’s Financial Terms as States Split

Related News: Law · Finance · Insurance · Real Estate · U.S. · Funds · Politics · Municipal Bonds
Banks Await Foreclosure Deal’s Financial Terms as States Split
By David McLaughlin - Apr 21, 2011 3:33 AM GMT+0900

Attorneys general negotiating the settlement of a nationwide foreclosure investigation have yet to approach banks with a proposed dollar amount that would fund principal reductions for borrowers, a state official said.

Bloomberg: Gold Rises Above $1,500 to Record on Weaker Dollar, Inflation

Related News: Canada · Commodities · Middle East · Australia · New Zealand
Gold Rises Above $1,500 to Record on Weaker Dollar, Inflation
By Pham-Duy Nguyen - Apr 21, 2011 3:53 AM GMT+0900

Gold futures rose to a record for the ninth time this month as a weakening dollar boosted investment demand for the precious metal as an alternative asset. Silver topped $45 an ounce for the first time since 1980.

CNN Money: 'Uneven' housing recovery continues

'Uneven' housing recovery continues

By Annalyn Censky, staff reporter April 20, 2011: 12:12 PM ET

NEW YORK (CNNMoney) -- Sales of existing homes increased in March, "continuing an uneven recovery" in real estate, an industry group said Wednesday.