Blog
Trade Deficit Narrows to 10-Year Low
With global demand continuing to suffer, The US Trade Balance shrank more than anticipated in May, dropping 9.8% in the month to mark its lowest reading since November 1999. Exports increased nearly $2 billion in the month and imports continued their 10-month decline. Economists were happily surprised by the news but said the gap should widen in the coming months.
Futures Point to More Declines After Thursday’s Pause
Since the June employment numbers were released last Thursday, oil prices have fallen more than 10%, including a drop to as low at $59.59 per barrel in London markets today. In late June crude oil was trading at more than $73 per barrel. The International Energy Agency said they expect oil consumption to increase in 2010, but predicted that this year consumption would remain weak. Economic uncertainty is weighing on equities as well, which look to open lower Friday morning ahead of the monthly Trade Balance report and the first monthly look at Consumer Confidence.
Fed Purchases $17.050 Billion Agency MBS. Over Half of Allocated Funds Now Used
The Federal Reserve today reported on their weekly purchases of agency mortgage-backed securities (MBS).In the four trading days between July 2 and July 8, the Federal Reserve purchased a gross of $23.250 billion Agnecy MBS. During this period the Federal Reserve sold $6.2billion agency MBS, which brought their weekly net purchases to a total of $17.050 billion. Since the inception of the program the Federal Reserve has spent $638.61 billion, 51% of the $1.25 that was allocated.
Latest Articles
By John Gittelsohn August 24, 2020, 4:00 AM PDT Some of the largest real estate investors are walking away from Read More...
Late-Stage Delinquencies are SurgingAug 21 2020, 11:59AM Like the report from Black Knight earlier today, the second quarter National Delinquency Survey from the Read More...
Published by the Federal Reserve Bank of San FranciscoIt was recently published by the Federal Reserve Bank of San Francisco, which is about as official as you can Read More...