NORTH AMERICAN & INTERNATIONAL ECONOMIC HIGHLIGHTS The subprime mortgage default swap market may be pricing in a darker picture than the one likely to emerge, but that will not help the valuations of American financial institutions in the coming months. An unprecedented drop in house prices and the resulting surge in negative equity positions [...]
Uncle Invis – Feb. 8, 2008 Canadian housing starts and job creation data released this week remain very strong in contrast with the weaker economic data coming out of the United States these days. The Bank of England reduced rates yesterday but the European Central Bank held rates steady after inflation figures were higher than the target [...]
- Uncle Invis Rant February 5, 2008 Stock markets reacted badly today to weak economic figures suggesting that the US service economy has begun to slow. Most analysts had been assuming that although US manufacturing has been losing jobs to China and India for several years Americans would always continue to sell each other’s houses, serve each other’s [...]