Brian’s Briefs, written and compiled Monday through Friday by Brian Weide, SunStar Mortgage Services
Friday, June 29, 2012
As I mentioned yesterday, bonds and Mortgage-backed Securities have been flip-flopping around like water on a hot skillet the last 10 days or so, and today was no exception. While closing off their lows, both securities closed lower today after having rallied yesterday. Data was mildly bond-friendly overall. Personal Income rose by .2%, which was twice the rate expected (see Moving the Market). Personal Spending was unchanged for May against expectations of +.1%. Core PCE Prices, which is a favorite gauge of the Fed in measuring inflation, as it works with consumer’s actual spending habits instead of a fixed “basket of goods” as does the CPI, was up by .1% vs. consensus estimates of .2%.
The Chicago Purchasing Managers’ Index landed at 52.9 for June- real close to estimates of 53.0 but not quite there. Finally, the final read for June for the University of Michigan Consumer Sentiment survey reported at 73.2; again, below estimates of 74.1. So with the exception of Personal Income, all the stats were below estimates, but yet very close; hence my insinuation that bonds were mildly supported by these numbers. However, data was not the main driver for bonds today. First off, stocks were strongly into rally mode (Dow +277.83 at 12880.09, Nasdaq +85.56 at 2935.05, S&P +33.12 at 1362.16), being buoyed by news that Eurozone officials have opened the door for Spain’s banks to be directly recapitalized with bailout funds once Europe sets up a single banking supervisor. Moreover, Spain will not have to take on additional sovereign debt.
Materials: HEMNES 8-drawer dresser, black-brown
Description: 1. We spray painted the back of the dresser to a grey metallic finish
2. Made a frame for the back of the dresser out of 2 x 4 (spray painted to match) to support the shelves
3. Mounted bracket rails to the frame
THIS WEEK’S HEADLINES:
Posted in News and Views
Tagged branding, business, Depression, economic crisis, economy, entrepreneurs, ethics, financial crisis, financial institutions, funding, internet, jobs, meltdown, money, Recession, sba, sbdc, small business
While life expectancy in many parts of the United States is dropping, it has increased by 10 years in Manhattan since 1987. Researchers largely attribute that rise — the fastest in the nation — to a crackdown by the New York City health department on unhealthy behaviors.
Manhattanites can now expect to live to the ripe old age of 82, and the average life expectancy across all five New York City boroughs is 80.6 years. That’s three years beyond the national average, and a striking turnaround since the city’s low point in 1990, when life expectancy there trailed the U.S. average by three years.
The most common question entrepreneurs ask is “How can I improve my marketing with no or little money?” Here is the first of 115 ideas thanks to ‘The Toliet Paper Entrepreneur”. You are sure to find something that works for you.
1. Focus On One Contact
Marketing Strategy For Small Business: Target one decision maker you’d like to meet and invite him to share his expertise. Ask for a (very) short article for your newsletter or a quick phone interview for your podcast. Follow up by sending…
When I (and others) book a job three months in advance, the contractor can hire more workers knowing when checks will be coming in. My visibility creates the contractors visibility. The predictability of revenue creates the opportunity for economic expansion and job creation.
The Federal Reserve is operating monetary policy using a simple formula:
Lower interest rates across all maturities ALWAYS increases economic growth.
My personal example proves this formula to be flawed. I think the formula is more complicated:
Lowering interest rates across all maturities has both positive and negative consequences. As interest rates approach zero, (with the prospect that they will remain so for years to come) the negative consequences outweigh any benefits.
The idea that lower interest rates are hurting savers is an old one. The question is, “How significant are the negative consequences of low interest rates?” The multi-decade efforts in Japan to reflate an economy with low interest rates is a shining example of policy that has not worked.
Read this article, you will have, in nutshell, exactly our economic situation. Read at least some of the comments. If you filter out the hyperbole of a few, the comments form a kind of crystal ball, with some sobering predictions.
Posted in News and Views
Tagged bailout, banks, Depression, financial institutions, meltdown, money, people hate banks, Recession, stimulus package, The Fed, They are all a bunch of bastards
Walk the walk and get some exercise for free with the Start Moving: 12 Week Beginner Walking Program. Walking is a simple, fun, and frugal form of exercise with many healthy benefits, including: a healthier heart, stronger bones and joints, weight loss, increased energy levels, and a better night’s sleep.
It can be challenging to serve healthy meals on a budget, but with planning you can eat better for less. Many people save money by adding meatless meals to their weekly menus. Meatless meals are built around vegetables, beans and grains — instead of meat, which tends to be more expensive. Meatless meals also offer health benefits.
NEW YORK CNNMoney — Homeowners who were victims of foreclosure abuses during 2009 and 2010 could receive more than $125,000 from lenders as part of an Independent Foreclosure Review that is being overseen by two government agencies.The Office of the Comptroller of the Currency OCC and the Federal Reserve laid out the framework in which borrowers will receive compensation for a wide range of foreclosure abuses and errors that occurred as a result of robo-signing.