Bloomberg: Fed’s Bullard Sees Europe Debt Crisis as Top Risk to U.S. Economic Outlook

Related News: Economy · U.S.
Fed’s Bullard Sees Europe Debt Crisis as Top Risk to U.S. Economic Outlook
By Joshua Zumbrun - May 19, 2011 1:43 AM GMT+0900

Federal Reserve Bank of St. Louis President James Bullard said the European sovereign-debt crisis has surpassed rising oil prices to become the biggest risk to the economic outlook in the U.S.

Bloomberg: Banks Say Simpler Mortgage Form Could ‘Stifle’ New Products

Related News: Finance · Real Estate · U.S. · Personal Finance
Banks Say Simpler Mortgage Form Could ‘Stifle’ New Products
By Carter Dougherty - May 18, 2011 1:00 PM GMT+0900

For Elizabeth Warren, the Obama administration adviser setting up the Consumer Financial Protection Bureau, simpler mortgage paperwork is a “regulatory sweet spot” that will cut lender costs and borrower confusion.

CNBC: China Economic 'Facade' Starts to Show Cracks: Chanos

China Economic 'Facade' Starts to Show Cracks: Chanos
Published: Wednesday, 18 May 2011 | 8:16 AM ET
By: Jeff Cox

China's economy is showing real signs of weakening, particularly in real estate, and even could tip into a recession, hedge fund manager Jim Chanos told CNBC.

WSJ: Moody's Cuts Rating of Four Major Australian Banks

BUSINESS|MAY 18, 2011, 5:20 A.M. ET
Moody's Cuts Rating of Four Major Australian Banks

By GEOFFREY ROGOW And CYNTHIA KOONS

SYDNEY—In a blow to the Australian banking industry, Moody's Investors Service downgraded the debt ratings of the country's four largest banks, citing their dependence on global lending markets.

Bloomberg: Geithner: No ‘Magical Thinking’ to Fix Deficit

Related News: Economy · U.S.
Geithner: No ‘Magical Thinking’ to Fix Deficit
By Ian Katz and Rebecca Christie - May 18, 2011 10:49 AM GMT+0900

U.S. Treasury Secretary Timothy F. Geithner said budget deficits threaten to erode the nation’s economy and security and can’t be reduced with “magical thinking.”

Bloomberg: U.S. Industrial Production Stalls on Auto Disruption; Housing Starts Drop

Related News: Economy · U.S.
U.S. Industrial Production Stalls on Auto Disruption; Housing Starts Drop
By Shobhana Chandra and Bob Willis - May 18, 2011 1:05 AM GMT+0900

Industrial production in the U.S. unexpectedly stalled in April and housing starts dropped, posing hurdles to a rebound from the first quarter’s economic slowdown.

Bloomberg: U.S. Wheat Harvest May Be Worse Than Forecast

Related News: U.S. · Commodities · Canada · Latin America
U.S. Wheat Harvest May Be Worse Than Forecast
By Whitney McFerron - May 18, 2011 5:37 AM GMT+0900

Wheat crops in the U.S. Great Plains are showing signs that production may plunge more than the government forecast last week as hot weather and a lack of rain erode plant quality and force farmers to harvest early.

Bloomberg: Geithner Says Default Damage May Be ‘Irrevocable’

Related News: Bonds · Economy · Currencies · U.S.
Geithner Says Default Damage May Be ‘Irrevocable’
By Ian Katz and Daniel Enoch - May 15, 2011 2:44 AM GMT+0900

Timothy
Geithner,
U.S. treasury
secretary

U.S. Treasury Secretary Timothy F. Geithner said a default arising from failing to raise the debt limit could cause “irrevocable damage” to the economy, risk a “double-dip” recession and increase unemployment.

MarketWatch: Home prices won’t bottom until next year: Zillow

REAL ESTATE WEEKLY
May 13, 2011, 4:28 p.m. EDT
Home prices won’t bottom until next year: Zillow

By MarketWatch

The first quarter proved rough on home prices, as U.S. home values fell 3% from the fourth quarter — the biggest quarterly decline since 2008, Zillow.com reported this week.

Reuters: Jim Rogers says may short U.S. Treasuries, later today

Jim Rogers says may short U.S. Treasuries, later today

By Edward McAllister
NEW YORK | Tue May 10, 2011 7:18pm EDT

(Reuters) - Influential investment veteran Jim Rogers said on Tuesday he plans to short U.S. Treasuries, maybe as soon as later in the day, as he expects the end of the Federal Reserve's quantitative easing program to pressure government bonds.