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Housing Starts Get Slammed August Housing Starts: -14.4% to0.956M vs. 1.04M expected and 1.11M prior (revised). Permits -5.6%to0.99M vs. 1.05M prior (revised). Must be the weather LOL
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Housing Starts Get Slammed

August Housing Starts: -14.4% to0.956M vs. 1.04M expected and 1.11M prior (revised).
• Permits -5.6%to0.99M vs. 1.05M prior (revised).
• Must be the weather…

Housing Starts Get Slammed #housing #economy #mortgage #forex #trading #pips #unique4x #stocks #options #economy

Fed Leaves In “Considerable Time” Wording

There was little change in language today from the Fed, with “considerable time” wording remaining the focus point.  The taper continues and the Fed expects to fully end QE by the next meeting.

The projection for 2015 GDP growth is cut somewhat, but so is the forecast unemployment rate, now at a range of 5.4-5.6% from 5.4-5.7%. The high end of the core PCE inflation forecast is cut, now 1.6-1.9% from 1.6-2.0%.

With regards to unemployment:  "There are still too many people who want jobs but cannot find them … Too many not searching for jobs but who would be in a stronger job market," says Janet Yellen.

With regards to interest rates:  Putting up a chart of the “dots” Yellen notes the median expected Fed Funds rate at the end of 2016 is just 2.9%  - nearly 100 basis points below what is thought to be the “normal” level despite participants expectations that the unemployment rate will be about 5% and GDP growth inline with the long run potential.  Bill Gross of PIMCO refers to this as the “new normal”.  You know our feeling on that new normal talk, its just quitting and accepting the economy can not get back to where it was years ago, slang for the Fed’s actions aren’t really working. 

On Bill Gross:  We only point to him because he’s all over the tv today, CNBC, Bloomberg, Fox, etc…  Mr. Gross admitted the markets are inflated as a direct result of the Fed’s actions.  Also feels rates will remain at historically low levels for “considerable time”, he even said they should change the wording to “a very long time”.  Obviously he feels the economy isn’t picking up enough to get to escape velocity which would drive up rates.

As we know, in today’s investing environment bad or poor economic conditions mean high equity prices.  The Fed and other central bankers to the rescue.  Quite a stark opposite from a REAL economy, one that sustain itself without the assistance of Dr. Fed and Dr. Central Banker.

Yen Slide Quickens as Pensions Head Overseas: Chart of the Day
By Kevin Buckland and Kazumi Miura, bloomberg.com
Japanese pension funds favoring overseas investments are helping send the yen down toward its biggest monthly loss this year, Nomura Securities Co. says.The CHART OF THE DAY shows so-called trust acco …

Yen Slides As Pensions Leave

#forex #trading #pips #unique4x #stocks #options #hedgefunds #investing
Zoom Info
Camera
Canon EOS-1D X
ISO
125
Aperture
f/5.6
Exposure
1/125th
Focal Length
105mm

Yen Slide Quickens as Pensions Head Overseas: Chart of the Day
By Kevin Buckland and Kazumi Miura, bloomberg.com

Japanese pension funds favoring overseas investments are helping send the yen down toward its biggest monthly loss this year, Nomura Securities Co. says.

The CHART OF THE DAY shows so-called trust acco …

Yen Slides As Pensions Leave #forex #trading #pips #unique4x #stocks #options #hedgefunds #investing

Yen Slide Quickens as Pensions Head Overseas: Chart of the Day
By Kevin Buckland and Kazumi Miura, bloomberg.com
Japanese pension funds favoring overseas investments are helping send the yen down toward its biggest monthly loss this year, Nomura Securities Co. says.The CHART OF THE DAY shows so-called trust acco …

Yen Slides As Pensions Leave

#forex #trading #pips #unique4x #stocks #options #hedgefunds #investing
Zoom Info
Camera
Canon EOS-1D X
ISO
125
Aperture
f/5.6
Exposure
1/125th
Focal Length
105mm

Yen Slide Quickens as Pensions Head Overseas: Chart of the Day
By Kevin Buckland and Kazumi Miura, bloomberg.com

Japanese pension funds favoring overseas investments are helping send the yen down toward its biggest monthly loss this year, Nomura Securities Co. says.

The CHART OF THE DAY shows so-called trust acco …

Yen Slides As Pensions Leave #forex #trading #pips #unique4x #stocks #options #hedgefunds #investing

U.K. employment improves more than forecast

  • The unemployment rate fell to 6.2% from 6.4% in the three months ending in July, the lowest level in six years. A separate gauge, the claimant measure fell to 2.9%, also the lowest since 2008. Wages remain sluggish though, with basic pay rising an annual 0.7% during the quarter, matching a record low.
  • The one thing holding back rate hikes in the U.K. is that slow wage number, according to Bank of England chief Mark Carney.
  • In separate news, the BOE minutes show MPC members again split 7-2 on keeping the benchmark rate at 0.5% (2 wanted a hike).

Scotland Prepares For Bank Runs; ‘Quietly’ Sends Millions Of Banknotes North
Tyler Durden, zerohedge.com

As the Scotish independence vote draws near and remains too close to call, some analysts are suggesting Plan B for Scotland may be to choose to opportunistically default. This has done nothing to calm concerns of the aftermath of a “yes” vo…

Scotland Prepares For Bank Runs #forex #trading #pips #unique4x #stocks #options #economy #scotland

Will the Fed Avoid a “Language Tantrum?”
Mohamed A. El-Erian, bloombergview.com

Tomorrow was supposed to be the kickoff of a straightforward, two-day policy meeting for the “steady as she goes” Federal Reserve. Instead, recent data releases have turned the gathering into a cliffhanger for markets and a challenge for a central…

El-Erian On This Weeks Fed Meeting #forex #trading #pips #unique4x #stocks #options #business #news #investing #hedgefunds

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