David Miles fears enormous housing debts November 14, 2013 HOUSE prices are hitting such unaffordable levels that households should seek new ways of buying, in a bid to avoid taking on dangerously high levels of debt, the Bank of England’s David Miles said yesterday. He wants to see a range of shared equity products to leave home owners paying both a mortgage and some [...]
London Report: Yellen’s dovish tone helps FTSE 100 to rebound November 14, 2013 TOP shares rebounded yesterday, led higher by energy stocks after the Federal Reserve’s Janet Yellen eased worries the US central bank may start scaling back its stimulus programme this year. Yellen, in remarks released ahead of the Senate hearing yesterday to confirm her as new Fed chair, said the central bank had “more work to [...]
New York Report: Fresh highs for Dow and S&P on easing hint November 14, 2013 THE DOW and the S&P 500 index ended at new highs last night after comments from Janet Yellen, the US Federal Reserve chair nominee, suggested the Fed’s accommodative policies would continue as long as the economy remains fragile. Gains in the technology-heavy Nasdaq and the Dow were held back by Cisco Systems, however, after the [...]
No taper, says Yellen, but unemployment must be trimmed November 14, 2013 As anticipated, nominee for next chairperson of the US Federal Reserve, Janet Yellen has just delivered a very dovish speech to the Senate Banking Committee. There is no set time for tapering, and the biggest problem facing the US economy at the moment is the plight of the long-term unemployed – a "virtually unprecedented" situation, [...]
What you need to know before the open – 14/11 November 14, 2013 Europe is set to open higher this morning after US markets saw a record close and Fed chair elect Janet Yellen's dovish remarks to the Senate Banking Committee last night. dunno how Republican Congressmen will feel about her but markets have a crush on Janet Yellen. — kit juckes (@kitjuckes) November 14, 2013 Yellen [...]
Yellen strikes dovish tone with her comments on US economy November 13, 2013 JANET Yellen, President Barack Obama’s nominee to chair the Federal Reserve, said yesterday that the US central bank has “more work to do” to help an economy and labor market that are still underperforming. “I believe that supporting the recovery today is the surest path to returning to a more normal approach to monetary policy,” [...]
New York Report: S&P and Dow both surge to record high November 13, 2013 THE Dow and the S&P 500 ended at record highs yesterday, driven by gains in consumer discretionary shares after results from Macy’s eased some worries about the holiday season. US stock index futures edged up after the bell following the release of Federal Reserve Vice Chair Janet Yellen’s introductory remarks, ahead of her confirmation hearing [...]
Slip in number of US mortgage applications November 13, 2013 The number of mortgage applications in the US fell last week by 2.8 per cent, according to the Mortgage Bankers Association (MBA). The MBA's seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, fell 1.8 per cent in the week ending 13 November. Capital Economics has stressed that [...]
Dovish US Fed official says low inflation allows more easing November 12, 2013 AMERICA’S ultra-loose monetary policy will not stoke inflation, one of the Federal Reserve’s most dovish senior officials insisted yesterday. “Inflation remains weak, or very low by historical standards, by the goal of two per cent per year, so there is no reason to be afraid of monetary stimulus,” said Narayana Kocherlakota, president of the Minneapolis [...]
Third Point takes stake in FedEx November 12, 2013 ACTIVIST investor Dan Loeb, founder of hedge fund Third Point, gave a fillip to FedEx stock yesterday when he revealed that his investment firm owns shares in the delivery company. Loeb, whose hedge fund oversees $13bn (£8.2bn), said at a Dealbook conference that he met with FedEx chief executive Fred Smith recently. Shares in New [...]