Moody’s: Foreclosure Delays Prolong U.S. Housing Correction

Foreclosure Delays Prolong U.S. Housing Correction

- The housing correction will take a little longer than had been expected.
- Resolution of processing issues should be reached by the fall.
- House prices should hit bottom in 2012.

Bloomberg: Greek Bank Threat is Main Stability Risk: ECB

Related News: Economy, Europe, Finance
Greek Bank Threat is Main Stability Risk: ECB
By Jeff Black and Jana Randow - Jun 16, 2011 12:00 AM GMT+0900

The European Central Bank said the threat of the Greek debt crisis spilling over into the banking sector is the biggest risk to the region’s financial stability.

CNNMoney: Inflation picks up speed

RECOVERY AT RISK
Inflation picks up speed
By Chris Isidore @CNNMoney June 15, 2011: 9:28 AM ET

NEW YORK (CNNMoney) -- The pace of inflation continued to climb in May, as the recent pullback in gas prices was not enough to ease the strain on consumers' wallets.

Bloomberg: Debt Limit ‘Wrong Tool’ to Force Cuts: Bernanke

Related News: US, Bonds, Economy
Debt Limit ‘Wrong Tool’ to Force Cuts: Bernanke
By Caroline Salas Gage and Joshua Zumbrun - Jun 15, 2011 4:43 AM GMT+0900

Federal Reserve Chairman Ben S. Bernanke said the U.S. debt ceiling shouldn’t be used as a bargaining chip to force budget cuts, and failing to raise it could cause “severe disruptions” in financial markets.

Bloomberg: Retail Sales in U.S. Fall Less Than Estimated; Demand for Autos Declines

Related News: U.S. · Bonds · Economy · Retail · Municipal Bonds
Retail Sales in U.S. Fall Less Than Estimated; Demand for Autos Declines
By Shobhana Chandra - Jun 15, 2011 5:38 AM GMT+0900

Sales at U.S. retailers fell less than projected in May, showing consumers were weathering elevated gasoline costs.

CNBC: US Housing Crisis Is Now Worse Than Great Depression

US Housing Crisis Is Now Worse Than Great Depression
Published: Tuesday, 14 Jun 2011 | 12:04 PM ET
By: Jeff Cox
CNBC.com Staff Writer

It's official: The housing crisis that began in 2006 and has recently entered a double dip is now worse than the Great Depression.

Bloomberg: Chinese Mount Global Homebuying Spree as Governments Squeeze Local Markets

Related News: Asia, China, Real Estate, Emerging Markets, Economy, Finance, Retail
Chinese Mount Global Homebuying Spree as Governments Squeeze Local Markets
By Kelvin Wong, Nichola Saminather and Hui-yong Yu - Jun 14, 2011 1:00 AM GMT+0900

On a sunny Saturday in early June, Larry Zhou strolled the floor of a property exhibition in Hong Kong, wondering whether it was time to buy another home -- not in the city, where residential prices have soared 50 percent in the past two years, but maybe in Thailand or Malaysia.

CNN Money: Summers: More stimulus needed

RECOVERY AT RISK
Summers: More stimulus needed
By Chris Isidore @CNNMoney June 13, 2011: 11:13 AM ET

NEW YORK (CNNMoney) -- Larry Summers, formerly one of the top economic advisors to President Obama, is advocating more government stimulus to jumpstart the struggling U.S. economy.

Office market: Construction tracks the health of banking - FT.com

Frankfurt as a Financial Centre

June 13, 2011 4:12 pm
Office market: Construction tracks the health of banking
By Ed Hammond

The lofty canyons of Frankfurt’s financial district are once again reverberating with the rumble of heavy machinery.

Caterpillar-tracked piling rigs plunge drill heads into the soil, boring the deep holes for the concrete and steel foundations from which the city’s next generation of skyscrapers will rise.

http://www.ft.com/intl/cms/s/0/ed5ea1c8-955e-11e0-a648-00144feab49a.html#axzz2PXw36Vqx

Bloomberg: Profits Seen Increasing Jobs as Earnings in U.S. Grow Fastest Since 1940s

Related News: Economy · Insurance · Canada · Japan · U.K. & Ireland · Stocks

Profits Seen Increasing Jobs as Earnings in U.S. Grow Fastest Since 1940s
By Shobhana Chandra - Jun 13, 2011 8:01 AM GMT+0900

Profits at American companies are poised to be one of the few bright spots in the U.S., helping to steady the faltering recovery.