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Important Events that Could Drive Markets this Week

President Trump’s executive order on healthcare, the Iran nuclear agreement, and news about North Korea preparing for a launch ahead of US–South Korea military exercises failed to trigger higher volatility.

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US Steel Had a Big Week: What Happened?

US steel stocks have had a tepid year after the spectacular rally last year, and there’s a sense of apprehension in the market that US steel prices could go lower.

Sector
S&P 500, NASDAQ, and Dow Closed Strong Last Week

The S&P 500 started last week on a weaker note. On October 13, the S&P 500 closed the day higher and ended the week with gains.

PCG-mkt-perf-1
Wildfires in California Set PG&E Ablaze, Stock Tumbles 7%

PG&E Corporation saw its stock fall ~7% on October 12—its steepest fall in seven years—on speculations that downed power lines caused wildfires in California.

RECENT Real Estate Investment Trusts RESEARCH

Fed  Unemployment Forecast
Federal Reserve forecasts 7.4% unemployment for 2013

The Federal Reserve includes formal economic forecasts in the minutes from its Federal Open Market Committee (FOMC) Meetings The Federal Reserve typically releases a short press release after its two…

MR Mortgage Apps 1 yr
Mortgage applications rise 4.5% for the week ending April 5

Mortgage applications as reported by the Mortgage Bankers Association rose 4.5% for the week ending April 5th as a dramatic drop in interest rates drove refinance activity. Mortgage applications are…

Initial Jobless Claims
Initial jobless claims increase to 385,000

Initial jobless claims rose to an annualized rate of 385,000 for the week ended March 28th Initial jobless claims are one of the few labor market indicators that are released…

MR - Twos Tens
Yield Curve flattens on flight to quality trade and QE

The shape of the yield curve matters almost as much as the absolute level of interest rates to financial companies As a general rule, financial companies (banks, REITs) borrow short…

MR - unemployment rate
Unemployment rate dips to 7.6% in March, but internals tell a different story

The unemployment rate dipped to 7.6% in March Markets sold off dramatically on Friday’s jobs report. While the unemployment rate fell to 7.6% from 7.7% a month earlier,  the unemployment…

MR - ten year
Yields on the 10 year Treasury fall dramatically

The yield on the 10-year bond has fallen below 1.7% after rising above 2% in mid-March The 10-year bond directly influences virtually all long-term liabilities in the U.S. From mortgage…

MR - nonfarm payrolls
Non-farm payrolls drop from 236,000 to 88,000 in March

Non-farm payrolls dropped dramatically in March Markets sold off dramatically on Friday’s jobs report. While the unemployment rate fell to 7.6% from 7.7% a month earlier, the unemployment rate is…

NFIB Small Business Optimism
Job Openings increase to 3.9 million in February

The Job Openings and Labor Turnover (JOLT) report from the Bureau of Labor Statistics is a good forward indicator of the labor market.  The Bureau of Labor Statistics (BLS) complies…

HARP Refinances
HARP Refinancings fall to 297,000 in Q4

Fannie Mae and Freddie Mac refinanced 297,000 loans in Q4 under the Home Affordable Refinance Program The Home Affordable Refinance Program was instituted in 2009 to allow homeowners with negative…

MBA Refinance Index
MBA Refinance Index falls 5.6% in the last week of March

The MBA Refinance Index is an important index to forecast mortgage activity and prepayments The Mortgage Bankers Association (MBA) index of refinance activity measures application activity, not loans made. The…

Case-Schiller 2
S&P Case-Shiller index and its effect on mortgage REITs

The Standard and Poor’s/Case-Shiller index of real estate prices increased 7.3% year-over-year in January, hinting that the real estate market bottomed around this time last year. The Case-Shiller index The…

Mortgage Delinquencies
Mortgage delinquencies hit new post-bubble lows

90-day mortgage delinquencies fell to 7.1% after peaking at 10% in early 2010. Mortgage delinquencies are falling as home prices rise and the foreclosure pipeline is being cleared. While 7.1%…

CoreLogic Home Price Index 1 year
CoreLogic Home Price Index rises 10% in February

The CoreLogic index of real estate prices increased 10.2% year-over-year in February, confirming the view that the real estate market bottomed around this time last year. The CoreLogic Home Price…

NFIB Small Business Optimism
NFIB Small Business Optimism Index falls in March

The National Federation of Independent Business Optimism Survey is a finger on the pulse of small business The National Federation of Independent Business is a monthly report which contains a…

MR -Case Schiller 1 yr
Standard and Poor's/Case-Shiller index rises in January

The Standard and Poor’s/Case-Shiller index of real estate prices increased 7.3% year-over-year in January, hinting that the real estate market bottomed around this time last year. The Case-Shiller index The…

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