V-shaped recovery is now more than complete for Japanese consumers
Retail sales in Japan jumped by 2.9% month on month (mom) in June, sizably stronger than the prior market expectation (E 1.5%).
Wednesday, July 27, 2011
CNBC: What Happens if the U.S. is downgraded?
What Happens if the U.S. is downgraded?
John Carney, CNBC, 2011-07-27
Implications of a US Downgrade
John Carney, CNBC, 2011-07-27
Implications of a US Downgrade
Just a few days more of this debt ceiling (R. Narvas)
Just a few days more of this debt ceiling
The clock continues to tick towards the Treasury's August 2 deadline and we continue to see little progress towards an agreement to raise the debt ceiling. The parties continue to be firmly dug into partisan lines, although the Republicans are looking more fractured. If no deal is done, there is the option of adopting the Reid-McConnell plan proposed last week, but also the atomic bomb of the President invoking the 14th amendment. In the case of a downgrade or default, it seems that the majority of Treasury holders may not be forced sellers. That said, repo markets are already dislocated due to the debt crisis, as players build up cash reserves, preparing for the worst.
The clock continues to tick towards the Treasury's August 2 deadline and we continue to see little progress towards an agreement to raise the debt ceiling. The parties continue to be firmly dug into partisan lines, although the Republicans are looking more fractured. If no deal is done, there is the option of adopting the Reid-McConnell plan proposed last week, but also the atomic bomb of the President invoking the 14th amendment. In the case of a downgrade or default, it seems that the majority of Treasury holders may not be forced sellers. That said, repo markets are already dislocated due to the debt crisis, as players build up cash reserves, preparing for the worst.
WSJ: What's Wrong With America's Job Engine?
ECONOMY JULY 27, 2011
What's Wrong With America's Job Engine?
Wary Companies Rely on Temps, Part-Timers, Hire Overseas
By DAVID WESSEL
Over the past 10 years:
• The U.S. economy's output of goods and services has expanded 19%.
• Nonfinancial corporate profits have risen 85%.
• The labor force has grown by 10.1 million.
• But the number of private-sector jobs has fallen by nearly two million.
• And the percentage of American adults at work has dropped to 58.2%, a low not seen since 1983.
What's Wrong With America's Job Engine?
Wary Companies Rely on Temps, Part-Timers, Hire Overseas
By DAVID WESSEL
Over the past 10 years:
• The U.S. economy's output of goods and services has expanded 19%.
• Nonfinancial corporate profits have risen 85%.
• The labor force has grown by 10.1 million.
• But the number of private-sector jobs has fallen by nearly two million.
• And the percentage of American adults at work has dropped to 58.2%, a low not seen since 1983.
WSJ: Obama Warns of Default Risk
POLITICS JULY 26, 2011
Obama Warns of Default Risk
President and Boehner Spar Over Competing Debt Plans as Deadline Approaches
With Congress deadlocked a week before the government runs out of cash to pay its bills, President Barack Obama warned Monday in his starkest terms yet that the U.S. is on the brink of a default that could trigger an economic upheaval.
Obama Warns of Default Risk
President and Boehner Spar Over Competing Debt Plans as Deadline Approaches
With Congress deadlocked a week before the government runs out of cash to pay its bills, President Barack Obama warned Monday in his starkest terms yet that the U.S. is on the brink of a default that could trigger an economic upheaval.
Tuesday, July 26, 2011
NYT: U.S. Housing Prices Remain Weak
U.S. Housing Prices Remain Weak
By CHRISTINE HAUSER
Published: July 26, 2011
Home prices in the United States rose slightly for the second consecutive month in May, but the real estate market still has a long way to go before a recovery, analysts said on Tuesday.
By CHRISTINE HAUSER
Published: July 26, 2011
Home prices in the United States rose slightly for the second consecutive month in May, but the real estate market still has a long way to go before a recovery, analysts said on Tuesday.
CNNMoney: Home prices dip 4.5%
Home prices dip 4.5%
By Les Christie July 26, 2011: 11:39 AM ET
NEW YORK (CNNMoney) -- May home prices in 20 major cities dipped 4.5% from one year ago, marking a continued decline in the already battered housing market.
By Les Christie July 26, 2011: 11:39 AM ET
NEW YORK (CNNMoney) -- May home prices in 20 major cities dipped 4.5% from one year ago, marking a continued decline in the already battered housing market.
Bloomberg: U.S. June New-Home Sales Fall More Than Estimated to 312,000 Annual Pace
Related News: Bloomberg, US, Real Estate, Economy
U.S. June New-Home Sales Fall More Than Estimated to 312,000 Annual Pace
Sales of new U.S. homes unexpectedly fell for a second month and a gauge of property values also dropped, showing the industry that sparked the recession is stagnating.
U.S. June New-Home Sales Fall More Than Estimated to 312,000 Annual Pace
Sales of new U.S. homes unexpectedly fell for a second month and a gauge of property values also dropped, showing the industry that sparked the recession is stagnating.
Monday, July 25, 2011
Greece: Improved Debt Sustainability
Greece: Improved Debt Sustainability
The EU Summit agreed a maturity extension and a reduction in the interest rates on both existing and new loans provided by the EFSF.
The EU Summit agreed a maturity extension and a reduction in the interest rates on both existing and new loans provided by the EFSF.
European Summit: A Yorktown Moment?
European Summit: A Yorktown Moment?
The EU summit may be a significant turning point in the eurozone crisis.
The EU summit may be a significant turning point in the eurozone crisis.
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