US Existing Home Sales Surge, But Cliff’s Edge is Near

NAR’s Yun Downplays Above-Expected Sales, Cites Slower March Traffic US home resales surged in February, rising by 6.5% to a 5.77 million annual rate, the strongest in 13 years and well ahead of expectations for a 5.51 million pace. But any positive momentum to be found in the February jump is blunted by the reality […]
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Market Fear Peaks Too Early? Infection Rate Higher

White House Watch updates on investigational drugs, therapies and markets. US stock indices started flapping in what seemed to be a changing wind Thursday, improving even in the face of rapidly worsening counts of coronavirus infection combined with surging oil prices. The day’s charts showed the oscillating path of trading as stocks erratically sketched a […]
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Canada Plans CAD 82 billion in Pandemic Relief Package

Canada is promising $82 billion in financial relief to soften the blow of the pandemic crisis that is causing massive upheaval and uncertainty in this country and around the world. Prime Minister Justin Trudeau announced Wednesday that his government would provide up to $27 billion in direct support for Canadian workers and businesses impacted by […]
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And Another Thing…

I occasionally get the odd bit of grief from those who disagree with my views, no more so than when I criticise the shift towards an equities market model. Criticism has never bothered me, someone much smarter and more successful than me once told me she preferred to talk to people who disagreed with her […]
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‘War-Time’ President Takes Control of Factories

White House Watch: Congress in focus as virus aid measure proposals balloon, while ‘Depression’ becomes the new watchword as deterioration deepens. What seemed premature and too extreme one day turns into coronavirus response moves that appear to be too late the next day, and Congress grappled Wednesday with the challenge of keeping up with a […]
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Govt Mobilising as President Tries Bipartisanship

White House Watch looks at the government’s ramped up efforts to fight the spread of coronavirus. The mobilisation of federal government resources to fight the spread of the coronavirus appeared to take giant strides Tuesday and an increasingly focused President Trump extended an olive branch to New York’s governor and other Democrats although not to […]
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FX The “Oasis of Relative Calm” in Markets as Analysts Ponder Next Moves

A series of coordinated central bank actions around the world has failed to stave off another collapse in equity markets with volatility spiking once again and several indices down more than 5% on the day. The Federal Reserve cut rates by 100bp on Sunday and promised further QE initiatives, it also suggested in its forward […]
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Fed’s Powell: “Had to do More”; Trump Happy

White House Watch takes a look at the latest US response to the Covid-19 crisis. The economic and financial response to the virus crisis took a giant step Sunday, a 100bp Federal Reserve rate cut to near zero, while the health care response was considerably less impressive, with disease testing still far short of what’s […]
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And Finally…

There’s nothing like a crisis to bring out the best and worst in people and the Covid-19 calamity is right up there with the best of them. Overall though, in terms of markets, I am not that surprised by how things have gone, indeed I am a little bemused at the amount of people who […]
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UK/Ireland Added to Travel Ban; Fed’s Powell Threatened

White House Watch: Trump says he has ‘right’ to remove Powell as Fed chairman, while Senate considers virus response legislation. The NIH’s Tony Fauci Saturday repeated his warning that the coronavirus fatalities will continue to mount in the US in a briefing in which president Trump confirmed travel from the UK and Ireland is being […]
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