BloggingStocks http://www.bloggingstocks.com BloggingStocks http://www.blogsmithmedia.com/http://www.bloggingstocks.com/media/feedlogo.gif BloggingStocks http://www.bloggingstocks.com en-us Copyright 2012 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[American Express Trades Lower Following Earnings Report]]>http://www.bloggingstocks.com/2010/10/21/american-express-trading-lower-following-earnings-report/http://www.bloggingstocks.com/2010/10/21/american-express-trading-lower-following-earnings-report/http://www.bloggingstocks.com/2010/10/21/american-express-trading-lower-following-earnings-report/#commentsFiled under: , ,

AXP Q3 Earnings ReportShares of financial giant American Express (AXP) are trading lower in after hours trading despite a stronger than expected earnings report for its third quarter.

Going into this afternoon's earnings report, analysts had been expecting to see American Express announce earnings of $0.86 per share, while actual earnings came in above estimates at $0.90 per share.

Continue reading American Express Trades Lower Following Earnings Report

American Express Trades Lower Following Earnings Report originally appeared on BloggingStocks on Thu, 21 Oct 2010 18:30:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>American ExpressAXPbankscreditearningsearnings reportfinancialsinthenewsThu, 21 Oct 2010 18:30:00 EST<![CDATA[Senate May Vote This Week on $30 Billion Community Bank Capital Bill]]>http://www.bloggingstocks.com/2010/07/27/senate-may-vote-this-week-on-30-billion-community-bank-capital/http://www.bloggingstocks.com/2010/07/27/senate-may-vote-this-week-on-30-billion-community-bank-capital/http://www.bloggingstocks.com/2010/07/27/senate-may-vote-this-week-on-30-billion-community-bank-capital/#commentsFiled under: , ,

The only question is -- how soon can the Congress get this deal done?

The potential 'deal' being $30 billion in new capital for community banks, who would then use it as a base to increase lending to small-sized/medium-sized businesses by up to $300 billion -- credit that's urgently needed and may prove to be a pivotal factor concerning the U.S. economic expansion's sustainability.

"If we can help the big banks, then we should certainly be able to help small-business lending," President Barack Obama said June 30, Bloomberg News reported. The Senate may consider the bill as early as this week; the program, called the Small Business Lending Fund, passed the U.S. House last month

Continue reading Senate May Vote This Week on $30 Billion Community Bank Capital Bill

Senate May Vote This Week on $30 Billion Community Bank Capital Bill originally appeared on BloggingStocks on Tue, 27 Jul 2010 13:30:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>bankscommunity banksCongresscreditinthenewsloansObama administrationsmall businessesTue, 27 Jul 2010 13:30:00 EST<![CDATA[Ray of Light: Credit Thaw Increasing Money for Auto Loans]]>http://www.bloggingstocks.com/2010/05/21/ray-of-light-credit-thaw-increasing-money-for-auto-loans/http://www.bloggingstocks.com/2010/05/21/ray-of-light-credit-thaw-increasing-money-for-auto-loans/http://www.bloggingstocks.com/2010/05/21/ray-of-light-credit-thaw-increasing-money-for-auto-loans/#commentsFiled under: ,

In this market, you take the good news where you can get it, and Friday's positive data came from the credit markets.

There are signs that U.S. credit markets are loosening as they pertain to the U.S. auto sector.

About $22.9 billion in bonds backed by auto loans, borrowings for dealer inventory, and related debt were issued through April, up 67% from a year ago, according to data compiled by Bloomberg News.

Continue reading Ray of Light: Credit Thaw Increasing Money for Auto Loans

Ray of Light: Credit Thaw Increasing Money for Auto Loans originally appeared on BloggingStocks on Fri, 21 May 2010 17:30:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>auto sectorcreditfeaturedinthenewsnew car loansnew carsFri, 21 May 2010 17:30:00 EST<![CDATA[MasterCard Guesses What You'll Buy Next]]>http://www.bloggingstocks.com/2010/04/14/mastercard-guesses-what-you-ll-buy-next/http://www.bloggingstocks.com/2010/04/14/mastercard-guesses-what-you-ll-buy-next/http://www.bloggingstocks.com/2010/04/14/mastercard-guesses-what-you-ll-buy-next/#commentsFiled under: , ,

It's a shopaholic's dream and a privacy advocate's nightmare -- a credit card that knows what you've been buying and can make recommendations on what to splurge on next.

Through a new partnership with an Internet company that specializes in personalized shopping, MasterCard (MA) just rolled out a Web shopping mall call MasterCard Marketplace on Monday. The gimmick is that it can predict what MA cardholders are likely to purchase and make suggestions. Now that consumer spending is actually above it's 2008 peak (really!), it is the perfect time for such a program.

Continue reading MasterCard Guesses What You'll Buy Next

MasterCard Guesses What You'll Buy Next originally appeared on BloggingStocks on Wed, 14 Apr 2010 11:30:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>american expresscreditcredit cardsfeaturedfeesmastercardonline shoppingretailretail salesVisaWed, 14 Apr 2010 11:30:00 EST<![CDATA[CarMax Fourth Quarter Earnings Preview]]>http://www.bloggingstocks.com/2010/03/31/carmax-fourth-quarter-earnings-preview/http://www.bloggingstocks.com/2010/03/31/carmax-fourth-quarter-earnings-preview/http://www.bloggingstocks.com/2010/03/31/carmax-fourth-quarter-earnings-preview/#commentsFiled under: , , ,

carmax earnings previewAuto retailer CarMax Inc. (KMX) will be reporting its fourth quarter numbers tomorrow, and Wall Street is looking for further signs that the struggling auto industry is continuing to rebound.

Going into tomorrow's earnings release Wall Street is expecting to see the company show earnings of $0.25 per share. During the same period last year the company reported earnings of $0.17.

Continue reading CarMax Fourth Quarter Earnings Preview

CarMax Fourth Quarter Earnings Preview originally appeared on BloggingStocks on Wed, 31 Mar 2010 18:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>autoauto salesautomobilesCarMaxconfidenceconsumer spendingcreditearningsearnings previewKMXnew autosrecessionused autosWed, 31 Mar 2010 18:00:00 EST<![CDATA[Banks Still Not Providing Enough Credit to Small Businesses]]>http://www.bloggingstocks.com/2010/02/05/banks-still-not-providing-enough-credit-to-small-businesses/http://www.bloggingstocks.com/2010/02/05/banks-still-not-providing-enough-credit-to-small-businesses/http://www.bloggingstocks.com/2010/02/05/banks-still-not-providing-enough-credit-to-small-businesses/#commentsFiled under: ,

The political climate in Washington is hardly conducive to a joint resolution by the Democrats and Republicans honoring Moms on Mother's Day, let alone high-stakes banking issues, but one reality is clear: if banks don't starting providing more credit to small and medium-sized businesses, Congress will have to create agents -- or new institutions -- that do.

The issue is too important for the long-term health of the economy: small and medium-sized businesses account for the bulk of America's jobs and new hiring.

Presently, demand is growing incrementally, but as it increases, if business credit lines don't as well, the recovery could stall, necessitating Congressional action.

Continue reading Banks Still Not Providing Enough Credit to Small Businesses

Banks Still Not Providing Enough Credit to Small Businesses originally appeared on BloggingStocks on Fri, 05 Feb 2010 17:40:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>banking sectorbankscreditfeaturedloansFri, 05 Feb 2010 17:40:00 EST<![CDATA[Charge offs by major credit card companies rise in November]]>http://www.bloggingstocks.com/2009/12/15/charge-offs-by-major-credit-card-companies-rise-in-november/http://www.bloggingstocks.com/2009/12/15/charge-offs-by-major-credit-card-companies-rise-in-november/http://www.bloggingstocks.com/2009/12/15/charge-offs-by-major-credit-card-companies-rise-in-november/#commentsFiled under: , , , ,

Charge offs are rising among our largest credit card companies, up 8.81% in November, from 8.02% in October.

Here are specific bank reports:

  • For Capital One (COF), charge offs rose to 9.60%, from 9.04%
  • Capital One expects its charge offs to peak early next year.
  • Discover Financial Services (DFS) rose 8.98%, from 8.54%.
  • Bank of America (BAC) had the largest charge offs at 13%, down a tad from 13.22% in October.
  • Bank of America late payments rose to 7.69% from 7.59%.

Continue reading Charge offs by major credit card companies rise in November

Charge offs by major credit card companies rise in November originally appeared on BloggingStocks on Tue, 15 Dec 2009 16:20:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>creditcredit card charge offsinthenewsTue, 15 Dec 2009 16:20:00 EST<![CDATA[Reason #5: The credit crunch will continue]]>http://www.bloggingstocks.com/2009/10/24/reason-5-the-credit-crunch-will-continue/http://www.bloggingstocks.com/2009/10/24/reason-5-the-credit-crunch-will-continue/http://www.bloggingstocks.com/2009/10/24/reason-5-the-credit-crunch-will-continue/#commentsFiled under:

Reason #5 the economy won't recover in 2010By year-end 2009, we will see a more than $4 trillion pullback in credit lines. And we are a country that runs on credit. In fact, the entire growth in consumer spending from 1997 to 2008 was paid for with home equity lines and credit cards.

Credit standards are already impossibly high. My credit lines literally shrink every month because I do not use them. But what if I needed them? And I almost couldn't get a lease for a new car even though I have never missed a bill payment. The majority of people cannot borrow money and, therefore, cannot spend. This will not change in 2010.

Next: Reason #6: Excess capacity

Reason #5: The credit crunch will continue originally appeared on BloggingStocks on Sat, 24 Oct 2009 14:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>consumer spendingcrediteconomic recoveryend of recessionMichael ShulmanSat, 24 Oct 2009 14:00:00 EST<![CDATA[Wells Fargo sees third-quarter earnings top expectations]]>http://www.bloggingstocks.com/2009/10/21/wells-fargo-sees-third-quarter-earnings-top-expectations/http://www.bloggingstocks.com/2009/10/21/wells-fargo-sees-third-quarter-earnings-top-expectations/http://www.bloggingstocks.com/2009/10/21/wells-fargo-sees-third-quarter-earnings-top-expectations/#commentsFiled under: ,

Wednesday morning kicked off with news that Wells Fargo (NYSE: WFC) saw third-quarter earnings rise to $3.24 billion (56 cents per share) from $1.64 billion (49 cents per share) last year. The results handily trounced the consensus estimate of 37 cents per share.

Wells Fargo also reported revenue of $22.47 billion , which was better than both a year ago and the consensus estimate. The company stated that net charge-offs for the quarter came in at $5.1 billion (2.5% of average loans), compared to $4.4 billion (2.11% of average loans) in the second quarter. The bank did note that it expects credit losses to continue increasing, but at a slower pace thanks to a slowing of the pace of deterioration.

Continue reading Wells Fargo sees third-quarter earnings top expectations

Wells Fargo sees third-quarter earnings top expectations originally appeared on BloggingStocks on Wed, 21 Oct 2009 11:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>creditearningsfeaturedfinancial crisisfinancial stocksinthenewsinvestment banksWells FargoWed, 21 Oct 2009 11:00:00 EST<![CDATA[Homebuilder confidence hits 12 month high]]>http://www.bloggingstocks.com/2009/08/17/homebuilder-confidence-hits-12-month-high/http://www.bloggingstocks.com/2009/08/17/homebuilder-confidence-hits-12-month-high/http://www.bloggingstocks.com/2009/08/17/homebuilder-confidence-hits-12-month-high/#commentsFiled under: , , , , , ,

homebuilder confidence hits 1 year highHomebuilder confidence hit a 1 year high today, providing another sign that the worst of the housing melt down may have passed.

The housing market started to crumble back in 2006, and since that time foreclosures and falling home prices have hit the economy hard, and played a major role in the recession that has effected millions. Today the The National Association of Home Builders/Wells Fargo confidence index climbed to 18, the highest level that it has been since June 2008.

Continue reading Homebuilder confidence hits 12 month high

Homebuilder confidence hits 12 month high originally appeared on BloggingStocks on Mon, 17 Aug 2009 16:30:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>creditforeclosureshome priceshomebuildersHomePriceshomeshousingincentivesreal estateRealEstateunemploymentMon, 17 Aug 2009 16:30:00 EST<![CDATA[Ray of light: More evidence that credit markets are normalizing]]>http://www.bloggingstocks.com/2009/08/13/ray-of-light-more-evidence-that-credit-markets-are-normalizing/http://www.bloggingstocks.com/2009/08/13/ray-of-light-more-evidence-that-credit-markets-are-normalizing/http://www.bloggingstocks.com/2009/08/13/ray-of-light-more-evidence-that-credit-markets-are-normalizing/#commentsFiled under: , ,

It's been a week of mostly positive data points for U.S. investors. Here's another: the Libor-OIS spread has narrowed to a level former U.S. Federal Reserve Chairman Alan Greenspan said he regarded as "normal."

The Libor-OIS spread, which measures the reluctance among banks to lend, fell 1 basis point Thursday to 25 basis points -- its lowest level since January 24, 2008, Bloomberg News reported. The spread had surged to an incredible 364 basis point in October 2008, during the global financial crisis' acute stage.

Continue reading Ray of light: More evidence that credit markets are normalizing

Ray of light: More evidence that credit markets are normalizing originally appeared on BloggingStocks on Thu, 13 Aug 2009 18:30:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>creditlendingLiborsmall business creditSmallBusinessCreditTED spreadThu, 13 Aug 2009 18:30:00 EST<![CDATA[Consumer debt headed in the right direction, spending hampered ]]>http://www.bloggingstocks.com/2009/08/09/consumer-debt-headed-in-the-right-direction-spending-hampered/http://www.bloggingstocks.com/2009/08/09/consumer-debt-headed-in-the-right-direction-spending-hampered/http://www.bloggingstocks.com/2009/08/09/consumer-debt-headed-in-the-right-direction-spending-hampered/#commentsFiled under: , ,

For the fifth month in a row, consumers paid down their credit cards and other debt, as the worldwide recession continues to drive conservative financial behavior.

According to the Federal Reserve, outstanding consumer debt fell $10.3 billion (4.9%) to $2.5 trillion in June. Analysts expected a decline of only $4.7 billion, making the plunge unexpected -- and nearly twice the $5.4 billion by which consumer debt fell in May.

Continue reading Consumer debt headed in the right direction, spending hampered

Consumer debt headed in the right direction, spending hampered originally appeared on BloggingStocks on Sun, 09 Aug 2009 15:10:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>consumer creditconsumer debtconsumer spendingcreditcredit cardsdebtfederal reserveinthenewsSun, 09 Aug 2009 15:10:00 EST<![CDATA[Doomsday Scenario: Credit card problems, PE downsized, American workers lag]]>http://www.bloggingstocks.com/2009/06/15/doomsday-scenario-credit-card-problems-pe-downsized-american/http://www.bloggingstocks.com/2009/06/15/doomsday-scenario-credit-card-problems-pe-downsized-american/http://www.bloggingstocks.com/2009/06/15/doomsday-scenario-credit-card-problems-pe-downsized-american/#commentsFiled under: , , ,

Not a good day for those looking for green shoots with markets down strongly. And no wonder. Credit card problems with the U.S. consumer are off the hook as CapitalOne (NYSE: COF) charge-offs rose to their highest historical level of 9.91% (via ZeroHedge) and American Express (NYSE: AXP) rose to 10% (via Mish Shedlock).

Higher chargeoffs and retracting credit means further consumer spending retraction. A semi-annual survey by Collier Capital found that 20% of institutional investors plan to downsize their target allocation to private equity, (via PEHub) the largest negative response since the survey started in 2004. An article by two Harvard University economists found that the biggest reason for the growing income inequality is lagging educational improvement in the American workforce (via VoxEU). There is no quick fix for this so its fairly bad news (although better than blaming the inequality on globalization and some neo-capitalist cabal).

Alex Salkever is Director of Research at Piqqem.com, a stock analysis site powered by the Wisdom of Crowds.

Doomsday Scenario: Credit card problems, PE downsized, American workers lag originally appeared on BloggingStocks on Mon, 15 Jun 2009 17:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>CapitalOnecreditcredit cardsCreditCardsincome gapIncomeGapprivate equityPrivateEquityMon, 15 Jun 2009 17:00:00 EST<![CDATA[More homeowners look to rent unsold properties]]>http://www.bloggingstocks.com/2009/05/12/more-homeowners-look-to-rent-unsold-properties/http://www.bloggingstocks.com/2009/05/12/more-homeowners-look-to-rent-unsold-properties/http://www.bloggingstocks.com/2009/05/12/more-homeowners-look-to-rent-unsold-properties/#commentsFiled under: , , ,

House for RentAs we all know, the housing market has been taking a beating over the past couple years. The global recession seemed to spark right out of the American housing market, and things have not really been improving too much. With all the homes that are unsold in the country, more and more homeowners have decided to rent instead of sell their properties.

As the housing market began to come apart at the seams, home inventories started to swell, and prices started to drop. Everyone has been waiting anxiously to see a point where the lower prices would bring massive buyers back into the market, but that still has not happened yet, and instead of lowering prices even further, homeowners have decided to hold onto properties a little longer and pull in some rental income instead.

Continue reading More homeowners look to rent unsold properties

More homeowners look to rent unsold properties originally appeared on BloggingStocks on Tue, 12 May 2009 17:30:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>creditforeclosureshome pricesHomePriceshomeshousingmortgagesrentingTue, 12 May 2009 17:30:00 EST<![CDATA[Credit card crash: Small biz lender Advanta in trouble]]>http://www.bloggingstocks.com/2009/05/12/credit-card-crash-small-biz-lender-advanta-in-trouble/http://www.bloggingstocks.com/2009/05/12/credit-card-crash-small-biz-lender-advanta-in-trouble/http://www.bloggingstocks.com/2009/05/12/credit-card-crash-small-biz-lender-advanta-in-trouble/#commentsFiled under: , , ,

Small biz credit card issuer Advanta (NAS: ADVNA) will shut down accounts to preserve capital and will stop lending June 10, according to Bloomberg. The company has 1 million customers that could be left without credit cards, yet another blow for small businesses suffocating without sufficient credit lines. Shares tumbled 24% on the news to less than a dollar per issue.

Continue reading Credit card crash: Small biz lender Advanta in trouble

Credit card crash: Small biz lender Advanta in trouble originally appeared on BloggingStocks on Tue, 12 May 2009 14:50:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>advantaamerican expressAmericanExpresscapital oneCapitalOnecreditcredit cardcredit cardsCreditCardCreditCardsinthenewsTue, 12 May 2009 14:50:00 EST<![CDATA[Comfort Zone Investing: Earnings are up, but stock price is down. So what's really up?]]>http://www.bloggingstocks.com/2009/04/25/comfort-zone-investing-earnings-are-up-but-stock-price-is-down/http://www.bloggingstocks.com/2009/04/25/comfort-zone-investing-earnings-are-up-but-stock-price-is-down/http://www.bloggingstocks.com/2009/04/25/comfort-zone-investing-earnings-are-up-but-stock-price-is-down/#commentsFiled under: , , ,

If you follow the bank stocks, you noticed the latest earnings were very good. Bank of America (NYSE: BAC) showed earnings that almost tripled. Citigroup (NYSE: C) lost 18 cents a share, but that was much better than the 34 cent loss analysts expected, and way better than the $2.44 it lost in the last quarter of 2008. Wells Fargo & Co. (NYSE: WFC) pre-announced it would have great earnings. Then delivered record results. But all of these stocks are well off their recent highs. Why is that?

It has to do with the quality of earnings. In other words, what was the source of this new-found land of profitability or in the case of Citi, lower loss? Investors like ongoing, predictable earnings. In the case of banks, that means loans such as mortgages or credit cards to worthy borrowers. But that isn't where banks got their profits this quarter. Instead, they came from investment banking and trading.

Continue reading Comfort Zone Investing: Earnings are up, but stock price is down. So what's really up?

Comfort Zone Investing: Earnings are up, but stock price is down. So what's really up? originally appeared on BloggingStocks on Sat, 25 Apr 2009 10:30:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>BACbank stocksCComfort Zone InvestingComfortZoneInvestingcreditearningsfeaturedTed AllrichWFCSat, 25 Apr 2009 10:30:00 EST<![CDATA[Why I sold: The economy is getting more leveraged]]>http://www.bloggingstocks.com/2009/03/13/why-i-sold-the-economy-is-getting-more-leveraged/http://www.bloggingstocks.com/2009/03/13/why-i-sold-the-economy-is-getting-more-leveraged/http://www.bloggingstocks.com/2009/03/13/why-i-sold-the-economy-is-getting-more-leveraged/#commentsFiled under:

This post was written by Minyanville contributor Bennet Sedacca.

My main reason for being long equities was purely a technical/sentiment call. But many of those that were asking me if they should liquidate their portfolios just 10 days ago were asking me what to buy and how long I thought the rally would last. I must confess that my honest to goodness answer is/was 'no idea.' But the change in sentiment was what quickly caught my attention.

Further, TV commentators and others turned bullish awfully quickly.

But the REAL reason is that MACRO TRUMPS TECHNICALS.

I just saw the latest Credit Market Debt/GDP number as of 12/31 (and this is before GDP was going to drop and before all of the recent issuance) and it was a stunning 370%. A record high by a long shot.

So much for de-leveraging. In fact the economy is getting MORE leveraged.

Why I sold: The economy is getting more leveraged originally appeared on BloggingStocks on Fri, 13 Mar 2009 14:50:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>crediteconomicsgdpinthenewsFri, 13 Mar 2009 14:50:00 EST<![CDATA[Home prices continue to drop, but is it really a bad thing?]]>http://www.bloggingstocks.com/2009/02/12/home-prices-continue-to-drop-but-is-it-really-a-bad-thing/http://www.bloggingstocks.com/2009/02/12/home-prices-continue-to-drop-but-is-it-really-a-bad-thing/http://www.bloggingstocks.com/2009/02/12/home-prices-continue-to-drop-but-is-it-really-a-bad-thing/#commentsFiled under: , , , , ,

Home prices drop in fourth quarterWe all know that the real estate market is in trouble, and another sign of just how bad things are came out today as the National Association of Realtors announced another steep drop in home prices during the fourth quarter.

The NAR started keeping comprehensive data on home sales back in 1979, and in that time period there has not been another quarter that saw home prices drop as much as they did in the fourth quarter of last year. So just how much did values drop? A massive 12.4%.

Continue reading Home prices continue to drop, but is it really a bad thing?

Home prices continue to drop, but is it really a bad thing? originally appeared on BloggingStocks on Thu, 12 Feb 2009 17:04:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>californiacreditcredit marketsCreditMarketsforeclosureshome priceshome valuesHomePricesHomeValuesinterest ratesInterestRatesinthenewsmortgagesNARNational Association of RealtorsNationalAssociationOfRealtorsnevadaThu, 12 Feb 2009 17:04:00 EST<![CDATA[Bank of England cut its key rate to 1%]]>http://www.bloggingstocks.com/2009/02/05/bank-of-england-cut-its-key-rate-to-1/http://www.bloggingstocks.com/2009/02/05/bank-of-england-cut-its-key-rate-to-1/http://www.bloggingstocks.com/2009/02/05/bank-of-england-cut-its-key-rate-to-1/#commentsFiled under: , ,

The Bank of England cut its key rate by half a percentage point to 1%. However, even with the move, the Monetary Policy Committee (MPC) said that there was still disruption in money markets and the rate cuts have not yet had their full impact.

The MPC cited the sharp drop in output in the fourth quarter of last year and a similar drop early this year.

Nationwide, the UK's largest building society announced that it reduced its base mortgage rate to 3% from 3.5%.The MPC pointed to the global nature of the current slowdown and stated that the supply of credit to households and businesses remained constrained.

Continue reading Bank of England cut its key rate to 1%

Bank of England cut its key rate to 1% originally appeared on BloggingStocks on Thu, 05 Feb 2009 10:00:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>Bank of England rate cutBankOfEnglandRateCutcreditinthenewsmortgage ratesMortgageRatesThu, 05 Feb 2009 10:00:00 EST<![CDATA[The FOMC decision: Fed remains lender of last and only resort!]]>http://www.bloggingstocks.com/2009/01/28/the-fomc-decision-fed-remains-lender-of-last-and-only-resort/http://www.bloggingstocks.com/2009/01/28/the-fomc-decision-fed-remains-lender-of-last-and-only-resort/http://www.bloggingstocks.com/2009/01/28/the-fomc-decision-fed-remains-lender-of-last-and-only-resort/#commentsFiled under: , , , , , , , ,

The Federal Open Market Committee issued its statement in which it indicated that it will keep short-term benchmark rates low for the foreseeable future. This was not really new and was expected. However, the bigger question was the Fed's stance on quantitative easing, the unconventional methods to keep credit flowing in the economy.

The Fed clearly indicated that it will continue to provide credit directly to those in need using the newly developed special programs, such as the Term Asset-Backed Securities Loan Facility, as the primary vehicles. It is focusing on the most effective means to keep credit flowing.

Continue reading The FOMC decision: Fed remains lender of last and only resort!

The FOMC decision: Fed remains lender of last and only resort! originally appeared on BloggingStocks on Wed, 28 Jan 2009 17:15:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>creditFedFOMCWed, 28 Jan 2009 17:15:00 EST