{"id":191595,"date":"2009-07-22T19:28:00","date_gmt":"2009-07-23T00:28:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2009\/07\/22\/economics-update-175\/"},"modified":"2009-07-22T19:28:00","modified_gmt":"2009-07-23T00:28:00","slug":"economics-update-175","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2009\/07\/22\/economics-update-175\/","title":{"rendered":"Economics Update"},"content":{"rendered":"

Well, it was a tough day for bonds<\/a>, with prices falling, and yields rising, on US Treasuries, as investors look more to the downside of the economy.<\/p>\n

Interestingly enough, we had a lot of mixed signals from real estate, with the
Federal Housing Finance Agency saying that single family home prices rose 0.9% in May<\/a>, though they are down 5.6% year over year, the U.S. architecture billings index down again in June<\/a>, which indicates a continued fall in construction, mortgage applications rose last week<\/a>, though they remain very low, and Standard & Poor\u2019s losses on subprime<\/span> mortgage backed securities was revised higher<\/a>.<\/p>\n

In the world of real people, the PBGC<\/span> took over struggling auto parts maker Delphi’s pension obligations<\/a>, which should come as a surprise to no one<\/span>.<\/p>\n

We do seem to be seeing signs of “green shoots” in other countries though, with the
South Korean GDP growing at the fastest rate in 6 years in the last quarter<\/a>, and the Central Bank of Brazil cutting its benchmark rate by the smallest amount since beginning of the year<\/a>, indicating that they think that their recession is largely over.<\/p>\n

In the old standbys of energy and currency, oil ended above $65\/bbl<\/a> on reports of tight inventories, and the dollar hit a 7 week low<\/a> on increased optimism.<\/p>\n","protected":false},"excerpt":{"rendered":"

Well, it was a tough day for bonds, with prices falling, and yields rising, on US Treasuries, as investors look more to the downside of the economy. Interestingly enough, we had a lot of mixed signals from real estate, with theFederal Housing Finance Agency saying that single family home prices rose 0.9% in May, though …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1080,973,1135,1004,1017,1088,985],"tags":[],"class_list":["post-191595","post","type-post","status-publish","format-standard","hentry","category-currency","category-economy","category-energy","category-finance","category-international-finance","category-real-estate","category-regulation"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/191595"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=191595"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/191595\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=191595"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=191595"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=191595"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}