Mortgage refinance demand tanks 39% as rates continue to climb
A house’s real estate for sale sign shows the home as being “Under Contract” in Washington, DC, November 19, 2020. Saul Loeb | AFP | Getty Images Higher mortgage rates are cutting into demand for refinances, as fewer and fewer...
As Fed gets ready to deliver its interest rate decision, Wells Fargo predicts the 10-year yield could reach 2.25% this year
Don’t rule out a 10-year Treasury Note yield as high as 2.25% this year. That’s the message from Wells Fargo Securities’ Michael Schumacher, ahead of Wednesday’s Federal Reserve interest rate decision. “The fiscal stimulus is enormous, and the vaccine rollout...
Homebuilder confidence drops as interest rates and lumber prices rise
A contractor works on a house under construction at the Norton Commons subdivision in Louisville, Kentucky, U.S., on Monday, March 8, 2021. Luke Sharrett | Bloomberg | Getty Images A monthly index measuring homebuilder confidence in the single-family housing market...
Investors now fear inflation and the Fed more than Covid, Bank of America survey shows
Just over a year since Covid-19 turned the world upside down, investors are starting to get over it. For the first time since the pandemic hit, respondents to the Bank of America Fund Manager Survey said the market faces bigger...
Short sellers are betting more against SPACs
Venture capitalist Chamath Palihapitiya. Mark Kauzlarich/Bloomberg via Getty Images Blank check funds are hot. Wall Street investors are increasingly betting against them. Short positions in special purpose acquisition companies, or SPACs, is at $2.7 billion, more than triple the $765...
Roaring economy will benefit more than just reopening trades, Credit Suisse analyst says
Credit Suisse’s Jonathan Golub is urging investors to get clever with recovery plays. He’s advocating a broad strategy that goes beyond reopening trades such as airlines and hotels. “It could be metals and mining companies. It could be machinery and...
Shift in U.S. spending emphasis ‘almost the end of Reaganomics,’ strategist says
U.S. President Joe Biden attends an event where he announced administration plans to double its order of the single-shot Johnson & Johnson coronavirus vaccine, procuring an additional 100 million doses, in the South Court Auditorium at the White House in...
Dow futures inch higher ahead of Monday’s market open
Traders on the floor of the New York Stock Exchange. Source: NYSE U.S. stock futures were mixed early Monday morning and pointed to a cautious open later in the day. That followed last week’s rally that led the Dow and...
Bitcoin surpasses $60,000 in record high as rally accelerates
Representation of the virtual currency Bitcoin is seen on a motherboard in this picture illustration taken April 24, 2020. Dado Ruvic | Reuters Bitcoin crossed a record high of $60,000 on Saturday morning, continuing its rally as major companies and...
The pandemic stranded these Americans overseas. Now, their unemployment benefits are in jeopardy
Justin Samuels, 44, was living in Malaga, Spain, when the Covid pandemic hit. The freelance writer is fighting New York for unemployment benefits. Justin Samuels Justin Samuels was living abroad in Malaga, a Spanish port city in the country’s south,...
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