Mohamed El-Erian believes the “New Normal” in unemployment will stick around for at least one more year. Appearing on CNBC’s Squawk Box, PIMCO’s CEO and co-CIO said that the 5 million long-term unemployed remained a huge issue to be solved before we can talk about the narrative changing on the unemployment. “To get to [...]
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Will Fed Extend Operation Twist? OpenBook Traders Weigh In
(eToro Blog) As the Federal Reserve’s 2-day policy meeting draws to a close later today, markets await the announcement on two key issues; first, whether or not the Fed remains committed to keeping ultra low interest rates for another 18+ months, and second, what the Fed intends to do about Operation Twist as the program’s [...]
New Home Sales Rise More than Expected
New Home Sales measures the number of new single-family homes that were sold during the prior month; this report is somewhat strongly correlated to Existing Home Sales. The Survey states that 328 thousand new single-family homes were sold in March. This is better than the 318 thousand expected by analysts. This is essentially bullish for [...]
