Comments on January Existing Home Sales

Earlier: NAR: Existing-Home Sales Decreased to 5.46 million in January A few key points: 1) Existing home sales were up 9.6% year-over-year (YoY) in January. 2) Inventory is very low, and was down 10.7% year-over-year (YoY) in January.   Inventory always decreases sharply in December as people take their homes off the market for the […]


Q1 GDP Forecasts: 0.7% to 2.6%

From Merrill Lynch: We are tracking 0.7% qoq saar for 1Q GDP and 2.0% for 4Q. [Feb 21 estimate]emphasis added From Goldman Sachs: we raised our Q1 GDP tracking estimate by one tenth to +1.5%. [Feb 19 estimate] From the NY Fed Nowcasting Report The New York Fed Staff Nowcast stands at 2.0% for 2020:Q1. […]


NAR: Existing-Home Sales Decreased to 5.46 million in January

From the NAR: Existing-Home Sales Drop 1.3% in January Existing-home sales declined in January, continuing a fluctuating pattern of monthly increases and declines, according to the National Association of Realtors®. Significant declines in the West region dragged down nationwide numbers, with the other three major U.S. regions reporting marginal – or no – changes last […]


The power of portfolio flexibility

Many investment managers apply strict portfolio constraints as part of their risk management process. These often include limits in sector over-/under-weightings, geographic concentrations, minimum levels of portfolio holdings and/or market capitalization requirements. The challenge around these types of curbs is that while they are designed to reduce potential return variance, typically in relation to a […]

Real Estate

Interest Rates Over Time [INFOGRAPHIC]

Some Highlights: With interest rates hovering at near historic lows, now is a great time to look back at where they’ve been, and how much they’ve changed over time. According to Freddie Mac, mortgage interest rates are currently hovering near a five-decade low. The impact your interest rate has on your monthly mortgage payment is significant. […]


The temperature is literally rising but the Financial Reporting Council is not feeling the heat

As the FT reported yesterday afternoon: Companies and their auditors will be more closely scrutinised over how they report the impact of climate change, under a new push by the accounting watchdog to provide investors with greater transparency. The Financial Reporting Council said on Thursday it would undertake “a major review” of the way UK […]


3 reasons to stick with tech stocks

Technology shares are once again leaving everything else in the dust. Year-to-date, the MSCI Information Technology sector, led by U.S. tech, is beating the broader market by over 5% and is ahead of laggards, notably energy, by nearly 20% (see Chart 1). Given the magnitude of the gains, many are understandably wondering if it’s time […]