2008-06-25 EU News Highlights


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Weakness and inflation= rate hikes in the eurozone.

Fed response to same conditions later today.

Trichet Says Price-Stability Risks Have Intensified

   

Spanish Producer-Price Inflation Accelerates to 23-Year High

   

European Bonds Drop Before German Price Reports, as Stocks Gain

   

ECB’s Noyer Backs Inflation Vigilance, Flexible Exchange Rates

   

ECB’s Tumpel-Gugerell Says ECB Ready to Raise Rates If Needed

   

Wellink Says Inflation Accelerating, ECB on `Heightened Alert’

   

ECB Confirms August Press Conference, Scraps Summer Holiday

   

Inflation Tops Unemployment as Main Concern in EU, Survey Shows

   

German Consumer Optimism Nears 3-Year Low, Stern Poll Shows

   

Spain Recession Risk Climbs as Rates Move Higher, Survey Shows

   

Europe Heavy-Truck Sales Fall on Eastern Region Drop


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2008-06-25 US Economic Releases


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MBA Mortgage Applications (Jun 20)

Survey n/a
Actual -9.3
Prior -8.8%
Revised -8.7

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MBA Mortgage Purchases (Jun 20)

Survey n/a
Actual 333.4
Prior 360.2
Revised n/a


MBA Mortgage Refinances (Jun 20)

Survey n/a
Actual 1212.20
Prior 1378.60
Revised n/a


MBA Mortgage Application TABLE (Jun 20)

Purchase mortgage applications back at the low end of the new range, partially because mortgage bankers have lost market share, but housing remains very slow as well.


Durable Goods Orders (May)

Survey 0.0%
Actual 0.0%
Prior -0.5%
Revised -1.0%

About as expected. Remains on the weak side, but not at recession levels as economy continues to muddle through.

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Durables Ex Transportation (May)

Survey -1.0%
Actual -0.9%
Prior 2.5%
Revised 1.9%

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New Home Sales (May)

Survey 512K
Actual 512K
Prior 526K
Revised 525K

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New Home Sales MoM (May)

Survey -2.7%
Actual -2.5%
Prior 3.3%
Revised 4.8%

A touch better than expected from a very low base.

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New Home Sales TABLE NSA (May)

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Actual Number of Homes for Sale (May)

Survey n/a
Actual 453.00
Prior 461.00
Revised n/a

Lower than expected and working its way down nicely.

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FOMC Rate Decision (Jun 25)

Survey 2.00%
Actual 2.00%
Prior 2.00%
Revised n/a

They don’t consider inflation a problem yet.


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