Global Macro Perspectives
Bloomberg story: Pimco, New York Fed Said to Seek BofA Repurchase of Mortgages. Pacific Investment Management Co., BlackRock Inc. and the Federal Reserve Bank of New York are seeking to force Bank of America Corp. to repurchase soured mortgages packaged into $47 billion of bonds by its Countrywide Financial Corp. unit, people familiar with the […]
(For August 2010) Moody’s/REAL National Commercial Property Index fell 3.3% in August and it is now running at -7.6% YoY. Chart 1. Moody’s/Real National Commercial Property Index
(For September 2010) U.S. housing starts in September rose 0.3% to 610.000 vs. revised (10.000 higher) 608.000 August reading. The consensus was at 580.000. On year level U.S. housing starts are up 4.1% Chart 1. U.S. Housing Starts Number of building permits issued in the U.S. in August fell 5.6% to 539.000. The consensus was at 575.000. On year […]
(For The Week Ending October 15, 2010) Number of crude oil drilling rigs rose for 5; Number of natural gas drilling rigs fell for 5. Chart 1. Baker Hughes U.S. Rig Count Change Chart 2. Baker Hughes Weekly U.S. Rig Count Chart 3. Baker Hughes Monthly World Rig Count
(For September 2010) Housing and commercial real-estate prices in China rose 9.1% in September compared with 9.3% reading in August and 8.8% consensus. Chinese government has put the price increases under control. Chart 1. China NDRC Property Price Index – House Price y-o-y