US Economy

Mortgage demand fell last week even as rates decreased slightly

A For Sale sign is posted in front of a property in Monterey Park, California on August 16, 2022. Frederic J. Brown | AFP | Getty Images Mortgage rates fell slightly last week, but not enough to fuel any kind of recovery in consumer demand for home loans. Total mortgage application volume fell 2% from …

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US is in housing recession, homebuilders say

A worker drills plywood on a single family home under construction in Lehi, Utah, on Friday, Jan. 7, 2022. George Frey | Bloomberg | Getty Images Builder sentiment in the market for single-family homes fell into negative territory in August, as builders and buyers struggle with higher costs. The National Association of Home Builders/Wells Fargo …

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US freight rates have peaked, another signal inflation is easing

Trucks at the entrance to the Port of Oakland in Oakland, California, US, on Thursday, July 14, 2022. David Paul Morris | Bloomberg | Getty Images US freight rates increased 28% year over year, but declined almost 2% month over month in July, a likely signal that the US market has reached peak freight rates, …

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Tech companies shed workers even as the talent shortage rages on

A worker sorts ordered goods into an automated shelving system during operations on Cyber ​​Monday at Amazon’s fulfillment center in Robbinsville, New Jersey, November 29, 2021. Mike Segar | Reuters Layoffs and hiring slowdowns have been the top talking points from tech leaders on earnings calls over the past few weeks. Then there was last …

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Mr. Big Short Issues a Dire Warning About the Economy

In the current recent euphoria of the markets, Michael Burry must appear as a killjoy. Moreover, he chose as “Cassandra BC” as a handle in the microblogging website Twitter. This suggests that it does not bother him to be often against the current of the general trend if in the end he ends up being …

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Treasury yields in focus as investors await economic data

Long-term US Treasury yields moved lower on Friday as market participants sorted through a busy week of economic data. The yield on the benchmark 10-year Treasury note dipped 5 basis points to 2.84%. The yield on the 30-year Treasury bond also ticked about 5 basis points lower to 3.108%. Yields move inversely to prices, and …

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Fed expected to stick with hawkish interest rate hikes, strategists say

The Federal Reserve is unlikely to pivot from its hawkish interest rate hikes despite positive signs this week that inflation in the US could be easing, according to market strategists. On Thursday, the producer price index surprisingly fell 0.5% in July from the prior month, compared with an estimate of a 0.2% gain, according to …

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Look at these stocks to lead a comeback rally if inflation has peaked

Stocks soared Wednesday after a better-than-expected slowdown in the pace of rising consumer prices. The consumer price index, which measures the price of a basket of goods and services, rose 8.5% in July from a year ago, as compared with estimates of an 8.7% increase. Investors cheered the news , which led many to wonder …

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Social Security cost-of-living adjustment may be 9.6% in 2023

New government data points to signs that red-hot inflation is starting to cool. But Social Security beneficiaries may still be in for a record high cost-of-living adjustment in 2023. The Senior Citizens League, a nonpartisan senior group, now estimates Social Security benefits may increase 9.6%, based on Consumer Price Index data released Wednesday. That would …

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Treasury yields in focus as investors assess inflation data

Longer-term US Treasury yields were little changed on Wednesday, as investors awaited highly anticipated inflation figures which could influence the pace of Federal Reserve interest rate hikes. The yield on the benchmark 10-year Treasury note ticked up less than 1 basis point to 2.801% while the yield on the 30-year Treasury bond was marginally higher …

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