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UK home prices fall in June
From Firstrung:UK house prices fall 1.2% in June as house price growth reaches near zero for past twelve months - Rightmove U.K. house prices have declined by their biggest amount so far this year as buyers shun the…
Investors finally balk at giving banks more capital
It's about time! I've been saying this day was sure to come and it couldn't arrive soon enough. After pouring over $300 billion of good money after bad, investors are perhaps saying enough is enough.The Wall Street Journal is reporting…
Economic Calendar: Week of 23 Jun 2008
DateTime (ET)StatisticForActualBriefing ForecastMarket ExpectsPriorRevised FromJun 2410:00 AMConsumer ConfidenceJun-57.057.057.2-Jun 258:30 AMDurable OrdersMay-0.3%0.0%-0.5%-Jun 2510:00 AMNew Home SalesMay-520K510K526K-Jun 2510:30 AMCrude…
Citigroup to slash jobs
Rumors are that Citigroup is also going to have another big writedown.Citigroup Inc., in the latest sign of bloodletting on Wall Street, is set this week to embark on an aggressive round of layoffs within its investment-banking division,…
Market risk is high
As we get ready for another grueling weak in the markets, one can see that market risk is high. Weekends are always a time of great nerves because there are no trades to validate or question one's market view. However, this weekend is…
Gas is cheap!
A friend from the UK visited me at the weekend last week. As we drove by the local Exxon, and he spotted the $4.30 marker for regular unleaded, he commented "Petrol is cheap here." Really?Well, in the UK, he said he was paying £1.40 a…
How far will US home prices fall from their peak?
I am running a small poll on my site on how far home prices will fall. I'd like everyone to take it to get a good sample of opinions out there. Visit my site and you'll see the poll right at the top right on the sidebar.Where are prices…
Renewed flooding in midwest will drive up prices
Last Monday, I warned of the ill effects that flooding would have on our pocketbooks in the post Floods increase the chances of inflation. Unfortunately, we have seen renewed flooding in the Midwest this week as well. The total impact…
Unscathed Japanese banks on the prowl
Now that it's come to light that Barclays went hat in hand to Japan to recoup some of the losses from its credit writedowns, one begins to understand that the Japanese banks are in a much better position today than their western…
How Goldman profits from the credit crunch
Interesting post on Goldmans in the Guardian today. In the aftermath of another stellar quarter from the investment bank, the Guardian is asking "how does Goldman Sachs do it?" Their conclusion is that its a mix of good risk management…