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Not surprisingly, with the way the economy has been lately, 20% of all houses sold on the US market during the third quarter were previously foreclosed homes, according to a spokesperson for RealtyTrac. The good news is that 20% is a significant improvement when compared to the 30% rate recorded in 2010. However, 20% is still not . . . → Read More: 20% of Home Sales Were Made Up of Foreclosures in Third Quarter It appears that a court of appeals has decided to dismiss a lawsuit which was filed by the financial industry against the new federal regulations that would be geared toward cracking down on conjecture in the commodities market. This move will more than likely cause a delay to a decision being made over whether to pass . . . → Read More: Suit Filed By Financial Industry Dismissed By Appeals Court
Continue reading U.S Federal Reserve – Beige Book Reports Suggest Modest Economy Growth
Tremors ran through the market as the number of people signed up for the state unemployment benefits went up by 13,000 to add to a total tally of 462,000 in the reports released a couple of weeks back. According to the labor department figures the projected number was revised at 4,000 — adding to a total tally of 449,000. The federal government reports pointed at zero improvement in the currently weak U.S jobs market. If you look at the last year of S&P 500 or Dow Jones you will see a nice seesaw pattern with peaks on January 19, April 26 and small peak on August 26 of 2010. There were at least 3 entry points for where stocks were on sale and where it was possible to make about . . . → Read More: Current stock market trends – will the seesaw continue? Citigroup reported that it will be selling its student loan business to Discover Financial Services and Sallie Mae. This Citigroup student loan business is handled by Student Loan Corp (NYSE: STU) where Citigroup owns 80%. Discover Financial Services will get 1/3 of the shares worth $600 million and Sallie Mae will get another 2/3 worth $1.2 billion. Discover . . . → Read More: Citigroup exits student loan business Hong Kong’s composite interest rate was unchanged during last 3 months at 0.2% as of the end of August. HIBOR or Hong Kong interbank exchange rate had slight decrease of 0.1 point to 11.1 points during August. The Reserve Bank of India (RBI) raised short-term interest rates. Repo rate (rate at which RBI lends to other banks) went . . . → Read More: Quarterly Asia interest rates update |
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