Ellie Mae’s closed loan applications increase despite housing shortage
Ellie Mae reported an increased number of closed loans on its Encompass platform despite ongoing shortages in the housing market. With 721,000 loan applications closed during the second quarter that’s an increase of 6 percent year over year. “What we...
Country risk: Colombia is on the springboard
Much like tourists approaching Colombia’s Rock of Guatapé, the new government can see the way to the top, but it’s going to be hard work A new government takes office in August led by president-elect Iván Duque Márquez, a lawyer...
The market finally may be ready for a big rotation
All year, two groups felt kind of bulletproof: FAANG names because the growth was so amazing, and small caps (Russell 2000) because the economy was so strong and they would do well even if there was a tariff war. But...
Trump budget director says GDP jump was no ‘sugar high’
The strongest quarter of growth the U.S. economy has seen in nearly four years was no mirage, the White House’s budget director said Friday. Reacting to the 4.1 percent gain in gross domestic product, Mick Mulvaney, director of the Office...
Intel’s ‘commitment to China … will not waver,’ says interim CEO
As trade tensions between the U.S. and China persist, Intel interim CEO Bob Swan said China remains an important market for Intel. “We have great partnerships there,” Swan said Friday on “Squawk on the Street.” “We’re very committed to that...
Why Trump’s goal of 3 percent economic growth actually is achievable and sustainable
Getting one quarter of breakout economic growth is easy: Presidents Barack Obama and George W. Bush did so on multiple occasions, only to see things fall back into the same pattern soon after. Sustaining that level is the hard part,...
Australia & New Zealand Weekly: Falling Electricity Prices is a Game Changer for Australian Inflation
Week beginning 30 July 2018 Falling electricity prices is a game changer for Australian inflation. Australia: dwelling approvals, trade balance, retail sales, private credit, CoreLogic home value index. NZ: employment, wages, building consents, business confidence. China: NBS and Caixin PMIs....
Bad times for active fund managers again: Vast majority are underperforming this year
Actively managed funds are stumbling again this year. J.P. Morgan shared the latest performance data with its clients, revealing only 41 percent of active fund managers are beating their benchmark year to date versus 52 percent last year in the...
Bitcoin rises, shaking off SEC’s denial of Winklevoss ETF
The world’s largest cryptocurrency jumped back above $8,200 Friday after falling sharply following news that U.S. regulators denied an application by Cameron and Tyler Winklevoss for the first-ever bitcoin ETF. Bitcoin dropped to a low of $7,798.70 Friday morning, about...
Week Ahead – BoJ, Fed, BoE Policy Decisions Awaited; Eurozone GDP and US Jobs Report also in Focus
It’s going to be a big week for central banks as the Federal Reserve, the Bank of Japan and the Bank of England hold policy meetings in the next seven days. Economic data will also be at the forefront with...
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