From the Richmond Fed: Manufacturing in the Fifth District showed signs of recovery in July Manufacturing in the Fifth District…
Continue ReadingCase-Shiller: National House Price Index increased 4.5% year-over-year in May
S&P/Case-Shiller released the monthly Home Price Indices for May (“May” is a 3 month average of March, April and May…
Continue ReadingTuesday: Case-Shiller House Prices, Richmond Fed Mfg
From Matthew Graham at Mortgage News Daily: Mortgage Rates Edge Slightly Higher Again Mortgage rates have been falling so much…
Continue ReadingJuly 27 COVID-19 Test Results
The US is now reporting over 700,000 tests per day. Based on the experience of other countries, the percent positive…
Continue ReadingWho Says You Can’t Time the Market?
Junk Bonds (JNK) rallied Friday, closing above the 50-week moving average. Then, today, JNK ran up to yet another new…
Continue ReadingFreddie Mac: Mortgage Serious Delinquency Rate increased sharply in June, Highest in 7 Years
Freddie Mac reported that the Single-Family serious delinquency rate in June was 2.48%, up from 0.81% in May. Freddie’s rate…
Continue ReadingMBA Survey: “Share of Mortgage Loans in Forbearance Decreases for Sixth Straight Week to 7.74%” of Portfolio Volume
Note: To put these numbers in perspective, the MBA notes “For the week of March 2, only 0.25% of all…
Continue ReadingOld Bear, New Trick
The S&P 500 recently got back to positive territory for 2020, with a year-to-date return of 1.4% as of July…
Continue ReadingWhere to Look for Initial Economic Damage if Disaster Relief is Inadequate
The GOP is scheduled to release their proposed Disaster Relief plan this afternoon. Based on early reports, their proposed package…
Continue ReadingSector Rotation Shows Weakness for Technology and Communication Services.
AFter Friday’s close we are facing a daily Relative Rotation Graph with some interesting (sector) rotations underway. Energy The Energy…
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