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The "up-to-the-minute Market Data" thread

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posted on Jun, 24 2009 @ 08:18 AM
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Not all the news today was all sunshine and happy days ahead. in fact we're about to see another drop in home sales, how big a drop is hard to say but one source of financing just dried up... Seems Citigroup has changed its mind about returning to "Business as usual..

June 24 (Bloomberg) -- Citigroup Inc. suspended loan applications at a unit that produced half of its $115 billion in mortgages last year after a review found that some property appraisals and income-verification documents were missing.

The correspondent division, which buys loans from banks and independent mortgage firms, stopped accepting new loans at 5 p.m. yesterday and will restart July 6, Citigroup said in a June 22 letter to clients. The New York-based company said it will use the time to change procedures and fix the omissions.

full story here

[edit on 24-6-2009 by DaddyBare]




posted on Jun, 24 2009 @ 08:24 AM
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reply to post by DaddyBare
 


That is odd, after the markets good news on durable goods and the

www.cnbc.com...

And the US Mortgage Applications Climb from 7-Month Low,

www.cnbc.com...

What this means that all those loan applications will stay just as that? loan applications but no many loans will be awarded. Right?

Anything is counted no a days just to make the news good.



posted on Jun, 24 2009 @ 08:27 AM
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Missing?

Try never had in the first place and got cought finally...

Now this bodes well for the Fed...tons of that paper they bought from the banks might not have any documentation


That should be worth more now right?


Or "Better than Expected" at least



posted on Jun, 24 2009 @ 08:53 AM
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Originally posted by marg6043
reply to post by DaddyBare
 


That is odd, after the markets good news on durable goods and the

www.cnbc.com...

And the US Mortgage Applications Climb from 7-Month Low,

www.cnbc.com...

What this means that all those loan applications will stay just as that? loan applications but no many loans will be awarded. Right?

Anything is counted no a days just to make the news good.



In the story they claim they will let those in the works go through... after a recheck... what was most distressing is the big boys were up to their old tricks again... not verifying income or employment histories,no credit check... just handing in a signed contract and pushing it threw with no thought or worry as to ability to repay...any of this sound familiar?



posted on Jun, 24 2009 @ 09:09 AM
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reply to post by DaddyBare
 


Yes it does, see the house markets are complaining that people are applying but they are no getting loans due to (Technicalities) so now they want the lenders to ease on them because after all the housing markets needs a boost to finally say that the recession is over.

But like you said it does sound familiar, been easy is what created the first bubble to begin with.

But this time I wonder how smart will the banks be this time, is not going to be many stupid investors that are going to go after that paper merry go around.

Now they know better, at least I think they know.



posted on Jun, 24 2009 @ 09:34 AM
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What I am looking at


Many many many many times you see the price dip into a common moving average (50 in this instance) and break, and rebound back to the trend it was previously in...

I have added notes on the chart



posted on Jun, 24 2009 @ 01:38 PM
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Fed removed statement about concern over deflation from last report.


www.reuters.com...

Its a different world now its not just the US Federal Reserve setting interest rates. With all the outstanding debt that needs to be monetized buyers of bonds and treasuries can demand higher yields and this can instantly effect mortgage rates..

[edit on 24-6-2009 by fromunclexcommunicate]



posted on Jun, 24 2009 @ 01:55 PM
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More strange things are amuk...

DX is up...

TNX is up...

JPY is down...

GBP is down...

Euro is down...

didn't think DXY and TNX moved the same way?

check out the moves CHF is making...someone is eating some bitter pills nows :shk:

[edit on 6/24/2009 by Hx3_1963]



posted on Jun, 24 2009 @ 03:51 PM
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reply to post by Hx3_1963
 


this made me laugh so hard

US durable goods orders surge in May



...durable goods orders leapt a robust 1.1 percent in May...


...orders in the first five months of the year are down 26.8 percent from the same period in 2008 as the economy struggles with a prolonged recession and tight credit conditions.


so 26.8% - 1.1% = 25.8%

the orders are still down 25.8% of what they where, how is that an improvement? Seriously how is that positive signs of recovery?
rawstory.com...

The spin they spew out just doesn't stop



posted on Jun, 24 2009 @ 03:56 PM
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reply to post by warrenb
 
You noticed that also?

And wait for next months revisions :shk:

Major number plays TRYING to instill something...NOT



U.S. to soon launch bank toxic asset plan: Treasury
www.reuters.com...

WASHINGTON (Reuters) - The U.S. government will "very soon" launch its program to use federal funds and private capital to buy banks' toxic assets, the new overseer of the government's $700-billion bank bailout fund said on Tuesday.

"I'm confident that very soon we'll be launching partnerships," said Herb Allison to the Congressional Oversight Panel. "We've made a great deal of progress."

Allison, who was confirmed last week as Treasury assistant secretary to head the Troubled Assets Relief Program (TARP), said "it shouldn't be long" before Treasury announces the first stage in the delayed toxic asset plan called the Public-Private Investment Program (PPIP).


[edit on 6/24/2009 by Hx3_1963]



posted on Jun, 24 2009 @ 04:36 PM
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Originally posted by warrenb
reply to post by Hx3_1963
 


this made me laugh so hard

US durable goods orders surge in May



...durable goods orders leapt a robust 1.1 percent in May...


...orders in the first five months of the year are down 26.8 percent from the same period in 2008 as the economy struggles with a prolonged recession and tight credit conditions.


so 26.8% - 1.1% = 25.8%

the orders are still down 25.8% of what they where, how is that an improvement? Seriously how is that positive signs of recovery?
rawstory.com...

The spin they spew out just doesn't stop






Well it is better than a continuous decline...with that being said, buying now after a huge rally because of a 1.1% improvement in durable goods orders is a little ridiculous as we are getting to the point where the downside is greater than the upside, unless you think the DOW is going to up up and beyond which won't happen unless there is major inflation. I think everyone is kind of like...okay...the markets are already at a high enough level that reflects better than 3 months ago news, but if you see news that come out worse next month watch out. So it is good to be cautious, but still be bullish imo on the stock market as the government CAN be successful on the short term. As Jim Rogers always says, "give me a few trillion dollars and I will show you a good time".

[edit on 24-6-2009 by RetinoidReceptor]



posted on Jun, 24 2009 @ 04:37 PM
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Those are going to be some HELLUVA' "Toxic Assets!!!"

"US Credit Card Chargoffs Break New Record...":

www.reuters.com...

"The chargeoff rate index -- which measures credit card loans the banks do not expect to be repaid -- rose to 10.62 percent in May from 9.97 percent in April."

"Credit card losses usually follow the trend of unemployment, which rose in May to 9.4 percent and is expected to peak over 10 percent by the end of 2009."

"With credit card losses across the industry surpassing the 10 percent this year, loan losses in the industry could top $70 billion, according to analysts' estimates."



posted on Jun, 24 2009 @ 05:51 PM
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well it was an odd day while the dow was down and s&p up, it was for the most part a flat market... the big news however was in Comodies


Energy

--------------------------- PRICE CHANGE %CHANGE TIME
BRENT CRUDE FUTR (USD/bbl.) 68.330 -0.470 -0.68 18:00
GAS OIL FUT (ICE) (USD/MT) 574.750 14.000 2.50 18:00
GASOLINE RBOB FUT (USd/gal.) 184.250 -5.070 -2.68 06/24
HEATING OIL FUTR (USd/gal.) 173.730 -0.080 -0.05 18:00
NATURAL GAS FUTR (USD/MMBtu) 3.776 0.015 0.40 18:09
WTI CRUDE FUTURE (USD/bbl.) 68.290 -0.380 -0.55 18:09


Not a huge loss but a steady march downward... cant wait to see falling gas prices but we all know they go up faster than they go down



posted on Jun, 24 2009 @ 06:31 PM
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reply to post by Hx3_1963
 


Soon to launch the toxic assets plan? WHAT? They've not started yet? Prepare to be looted even more. They already stole 15 trillion + ... so now they have a new reason to loot even more.

Yeah ``700 billions`` what a freaking joke. Even Bloomberg is admitting that the bank bailout is well over (last number I saw was the march number) 12.8 trillion... in 20 months... 12.8 trillion... so now they are about to spend even more...

The ``toxic assets of banks`` are in the trillions.

And Friday, the congress is voting for CAP and TRADE legislation... if you wanted to kill the economy, that's a good way.

Some other news:
Calderon wants money from the US for green economy

Numbers On Welfare See Sharp Increase

And something really sad...:
Antidepressant use soars as the recession bites

EDIT: And from the rise of the treasuries today... it looks like the FED is gonna choose option number one... buying more expansive debt and devaluating the dollar.

[edit on 24-6-2009 by Vitchilo]



posted on Jun, 24 2009 @ 06:51 PM
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They call this a Bear flag?

futures.tradingcharts.com...

Why 86?

[edit on 24-6-2009 by fromunclexcommunicate]



posted on Jun, 24 2009 @ 07:14 PM
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An ABSOLUTE MUST READ!!!!

More Bernanke, Mr. Issa, And The Media

PLEASE CALL OR FAX MR. ISSAS OFFICE WITH YOUR WORDS OF SUPPORT.

Washington D.C. Office
2347 Rayburn House
Office Building
Washington, DC 20515
phone: 202-225-3906
fax: 202-225-3303



posted on Jun, 24 2009 @ 09:06 PM
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reply to post by redhatty
 



Oh, I get it. You think that The Federal Reserve should be able to break the law any time it wants? That it should be able to, for example, buy Freddie and Fannie paper even though the clear black-letter law says it cannot? The Fed should be able to set up "Maiden Lane" LLCs like candy for the explicit purpose of hiding deteriorating assets which it also cannot legally purchase?


That's the part that truly pisses me off... the LLC's being formed (Maiden Lane I, Maiden Lane II) -- that's the address of the Federal Reserve as well, if anyone didn't know -- to buy up assets that the Federal Reserve .. which is NOT an entity .. cannot personally own. The Federal Reserve is an over sight board and cannot own any assets like Stocks, Mortgages, Bonds in corporations, none of it.. so they build these shell companies to take ownership of bad derivatives and mortgages and bonds and god knows what else.. and the kicker? .. These are all LLC's and are not public corporations, and do not file financial information for us to review. Not how much the fed funds them with, how much they lost, how much they gained, not even who's employed and what they do.

And the Fed, being anything but Federal as a private organization is exempt from the Freedom of Information Act, and thus, all the information hiding in these shell companies are kept in the closet.

It's TREASON not another damn word better for all these cowards and thieves and their actions. Treasonous, and they deserve to stand trial for that charge.



posted on Jun, 24 2009 @ 10:39 PM
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So... how well this treasury auction went?

Was it all today?

Any info?

And what is happening is really weird. On one hand the world bank is saying the situation is getting worse... but on the other hand the OECD is saying the economy is coming back... what the hell.

[edit on 25-6-2009 by Vitchilo]



posted on Jun, 24 2009 @ 11:18 PM
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reply to post by redhatty
 


I honestly wonder if these "news" outlets really wonder why their ratings are in the crapper. They have gotten to the point where they are trying to disseminate "factual" information and its so apparent they are trying to protect their corporate masters. People just aren't buying it anymore. Granted FOX is raping them in ratings, but even I don't believe everything the say.

It's actually funny when you think about it, bad news sells papers, but now that we have "The One" in office they are afraid to challenge him and in turn its hurting them.

Even the official stories that they are coming out with are bogus, like the lady today reporting on the Train Collision in DC. The story they are running with is a computer glitch, but the engineer applied the emergency brake, but the emergency brake failed AFTER the collision. You could tell the lady reporting this garbage just wanted to scream what she really thought.

The "news" has become nothing but a joke.



posted on Jun, 25 2009 @ 07:50 AM
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Jobless Claims Show Surprise Gain; GDP Loss Cut to 5.5%


The government says the number of people filing first-time claims for jobless benefits increased last week, partly due to layoffs related to the end of the school year.

The Labor Department says new jobless claims rose by 15,000 to a seasonally adjusted 627,000. Economists expected a drop to 600,000 claims, according to Thomson Reuters.

A department analyst says that states reported more claims than expected from teachers, cafeteria workers and other school employees.


www.cnbc.com...

So what this means, teachers, cafeteria workers and school employees are been fired? because I thought that this jobs comes back every year and teachers contracts are yearly and unless you get fire then you qualify for unemployment.

As usual something doesn't add here.




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