Mortgage demand is soaring on both sides of the Atlantic January 8, 2014 US mortgage applications rose by 2.6 per cent in the week to 3 January. And last week's fall of 6.3 per cent has been revised up – to a more moderate decline of just 4.2 per cent. Over on this side of the pond, the Bank of England said this morning that mortgage demand in [...]
This analyst suggests there is no “new normal” after all January 7, 2014 The "new normal" is a buzzword that's been doing the rounds for quite a while, but might be a fiction, according to Deutsche Bank US chief economist Joseph LaVorgna. Today LaVorgna has released a note titled "Is the old normal the new "new normal"?" That implies that the idea of a shift to very different [...]
The Fed’s one dissenter has just backed QE reductions January 7, 2014 When the Federal Open Market Committee (FOMC) decided to begin scaling back asset purchases last month, only one voice stood in opposition. Eric Rosengren, Boston Fed president, opposed the $10bn (£6bn) reduction in quantitative easing known as tapering. At the time Fed chairman Ben Bernanke said that further reductions are set to take place throughout [...]
There’s a technology that could reduce hunger, poverty, and save vulnerable habitats. But we’re not allowed to use it January 7, 2014 Agricultural scientists have developed answers to some of the world's biggest problems – but restrictions imposed by the European Union mean that we can't use them. Nobel peace prize winner Norman Borlaug said that "you can't build a peaceful world on empty stomachs and human misery". Genetically modified (GM) crops could be the answer to [...]
US stocks advance for seventh day December 27, 2013 Could US stocks close at record highs every day for a week? Major American indexes are all higher, with the Dow Jones up 0.21 per cent, S&P 0.09 up per cent, and Nasdaq 0.06 per cent higher. The Dow Jones has now seen six record highs in six days, with the S&P on a four [...]
Boxing Day sales attract 10m shoppers December 27, 2013 Boxing Day footfall grew by 1.5 per cent on last year, reaching 10m, according to retail data company Springboard. The Centre for Retail Research has projected a 5.7 per cent increase on last year's store sales for the consumer event, up to £2.2bn. Internet retailers' association IMRG suggested that internet sales are also booming, 15 [...]
Turkish Lira massacred by corruption crisis December 27, 2013 The Turkish Lira is losing more strength this morning. First chance for London to sell Turkish lira after holiday politics. Chance taken. off shade less than 2% pic.twitter.com/xFuhOvusnI — Paweł Morski (@Pawelmorski) December 27, 2013 The currency has had a bit of a break recently, but a fresh political crisis is driving it to [...]
Vodafone and BSkyB lifted by deal rumours December 27, 2013 BSkyB is one of the FTSE 100's biggest risers this morning, up by over 1.6 per cent on reports of a possible deal with Vodafone to offer a quad play deal – internet, television, landline, and mobile provision. Vodafone is also trading higher, with shares up by around 0.4 per cent. Marc Kimsey, senior trader [...]
Japan’s Nishimura wants corporate taxes slashed December 27, 2013 Japan's vice economic minister, Yasutoshi Nishimura, has said that he wants corporate taxes to be reduced quickly, to less than 30 per cent. Nishimura wants bolder corporate tax cuts in special economic zones, for June's revised growth strategy to show tax cut direction. The politician cautioned that it may difficult to declare the end of [...]
What you need to know before the open – 27/12 December 27, 2013 European markets are expected to gain momentum from US markets this morning. The Dow Jones has now seen six record highs in six days, but the very thin trading volumes have failed to carry over into the Asian trading session. ETX Capital #morningcall: FTSE100 up 5 points, the DAX higher by 5 and the CAC40 [...]
