• Canada adds 93,200 jobs vs 15,000 forecast; unemployment rate drops to 7.9% (Reuters)
• China bought a record amount of Japanese government bonds in May (FT)
• German exports rose by 9.2% in May-strong demand from China (AP)
• Strong Australian jobs data boost Aussie Dollar, up 4% for the week (FT)
• U.K. rates remain on hold at 0.5%; ECB leaves rates unchanged at 1.0% (Economy.com)
• Results of the stress tests of the 91 largest EU banks will be released on July 23rd (Economist)
• The IMF raised its global growth forecast , expects the world economy to expand 4.6% this year (WSJ)
• China rules out the "nuclear" option of dumping its vast holdings of U.S. Treasuries (Reuters)
• US mortgage rates drop to a fresh low of 4.57% (AP)
• AgBank of China sold $19.2 billion of stock in Hong Kong and Shanghai (NY Times)
• China plans to impose a new tax on coal, oil and gas extraction in western provinces (Bloomberg)
• US mortgage applications rise 6.7% as rates fall to record lows (AP)
|Weekly Market Barometers|
Chart Of The Week
US conventional 30 year mortgage rates through June 2010 were at an all-time low of 4.74%. The rates have been dropping further to a new low of 4.57% this week. Combine that with a decline in home prices and housing has become somewhat affordable again. Time to start looking at real estate again?
Please consider this excellent interview with Dan Alpert; he suggests that despite greater housing affordability and ultra-low financing rates home buyers do not need to rush in.
Good luck and good investing!
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