Weekly mortgage refinance applications rise, even as home purchase demand falls
Prospective home buyers arrive with a realtor to a house for sale in Dunlap, Illinois. Daniel Acker | Bloomberg | Getty Images Mortgage interest rates rose last week, but that didn’t throw any cold water on the mini-refinance boom that’s...
‘Awfully high’ risks of a global recession in the next 12-18 months, Moody’s chief economist says
There’s an “uncomfortably high” chance that a recession could hit the global economy in the next 12-18 months — and policymakers may not be able to reverse that course, an economist said on Wednesday. “I think risks are awfully high...
Sterling Firm as Brexit Deal is Near, Inflation Data Watched
Pound stays generally firm in Asian session after yesterday’s rally. UK and EU are getting closer to a Brexit deal and further progress could give Sterling another punch above. As for today, Yen and Swiss Franc are mildly firmer together...
Sterling Firmer in Tight Range, Yen Mildly Higher as US-China Trade Deal Back in Question
Commodity currencies are generally softer today, as led by New Zealand Dollar. Euro also turned softer despite slightly better than expected German ZEW economic sentiment. US-China trade deal appears to be in question again, but reactions are so far mild....
IMF says trade war will cut global growth to lowest since financial crisis a decade ago
The U.S.-China trade war will cut 2019 global growth to its slowest pace since the 2008-2009 financial crisis, the International Monetary Fund warned on Tuesday, adding that the outlook could darken considerably if trade tensions remain unresolved. The IMF said...
Fed’s Bullard warns risks remain high and US economy may slow more sharply than expected
James Bullard, president and CEO of the Federal Reserve Bank of St. Louis. David Orrell | CNBC St. Louis Federal Reserve Bank President James Bullard said global trade and other risks remain high for a U.S. economy that may slow...
Australian Dollar Steady after RBA Minutes, Markets Staying in Tight Range
The forex markets are staying in tight range in Asian session today. More clarity is needed regarding two of the biggest global risks, before traders commit more. It’s unlikely for a Brexit deal to be reached at the EU summit...
RBA Minutes – Sending Dovish Message by Rebuking Arguments in Favor of Keeping Rates Unchanged
In the minutes for the October meeting, RBA revealed the debate for the -25 bps rate cut. The key reasons for lowering the policy rate to 0.75% are disappointing employment and inflation data, as well as downside risk to global...
Larry Summers: US economy is just one bad recession away from zero rates or worse
The United States is just one bad recession away from being right back at zero interest rates or even lower, Larry Summers warned on CNBC on Monday. “It’s a very different world when everyone’s stuck at zero interest rates,” said...
Millennials are about to trigger a major ‘changeover point’ for the US economy, asset manager says
A fundamental shift in the spending habits of U.S. millennials will have an incredible impact on the world’s largest economy, according to the CEO of Smead Capital Management. U.S. adults aged between 21 and 38 years old will prioritize “necessity...
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