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Tuesday: Vehicle Sales, Corelogic House Prices

From Matthew Graham at Mortgage News Daily: Mortgage Rates Hit All-Time Lows, Is It Time To Lock? Mortgage rates officially hit all-time lows this morning. Even so, it continues to be the case that Treasury yields (often referred to as the basis for mortgage rates) are falling much faster. That’s because Treasuries aren’t actually the […]

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A Few Comments on COVID-19 Non-Medical Policies

Containment of COVID-19 has failed as was expected by most experts (but efforts delayed the onset). (examples: Washington, Oregon, California) I’ll stay focused on the economic data, however, just as during the housing crisis, I will suggest some (non-medical) government policies that would probably help. First and foremost, pay attention to the recommendations of the […]

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How the coronavirus outbreak changes our views

The spread of the corona-virus beyond China has alarmed global financial markets, as it has opened up a new global dimension to the epidemic and potential for a sharp economic drag from efforts to contain it. We expect the economic expansion to remain intact, albeit on a lower track than we had previously anticipated. We […]

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Construction Spending Increased in January

From the Census Bureau reported that overall construction spending increased in January: Construction spending during January 2020 was estimated at a seasonally adjusted annual rate of $1,369.2 billion, 1.8 percent above the revised December estimate of $1,345.5 billion. The January figure is 6.8 percent above the January 2019 estimate of $1,282.5 billion. emphasis added Both […]

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ISM Manufacturing index Decreased to 50.1 in February

The ISM manufacturing index indicated slight expansion in February.  The PMI was at 50.1% in February, down from 50.9% in January. The employment index was at 46.9%, up from 46.6% last month, and the new orders index was at 49.8%, down from 52.0%. From the Institute for Supply Management: February 2020 Manufacturing ISM® Report On […]

Budgeting

career goals how to avoid promotion killing CLM

When you’re thinking about career goals, things like landing a job interview, advancement, a promotion, a dream job, changing jobs, or a substantial raise during your performance review, have you ever considered, CLM? What’s CLM? CLM stands for career-limiting moves.  Career limiting moves is a phrase that I have recently heard for the first time…. […]

Tax

The ICAEW are getting the need to put climate change on the balance sheet

Sustainable cost accounting gets top billing on the Institute of Chartered Accountants in England and Wales daily newsletter today: As the related article notes, accountancy is now beginning to notice climate change, It adds: There’s little doubt investors need insight on such an all-encompassing issue – company accounts are therefore key to their understanding of […]

Tax

There are better forms of democracy for the UK

I felt that this report from the Electoral Reform Society (I am a member), issued this morning, was worth sharing in full since many here seem interested in this issue: A new report from the UK’s leading pro-democracy group lays bare the ‘crisis of legitimacy’ faced by parliament, following an election that saw voters marginalised […]