HOML News and Press, UBS AG London Branch ZC SP ETN REDEEM 13/03/2045 USD 25

Despite the lowball jobs total on Friday, plenty of good news is buried in the small print, like massive revisions to the previous two months. In addition, Hurricane Ida may have suppressed reporting of August payroll data. There are some more clues in the ADP reported last Wednesday,...

In his speech on Friday, Fed Chair Jerome Powell stressed that inflationary pressures are cooling and getting closer to the Fed’s 2% target rate. Powell also acknowledged that some inflation is a “cause for concern” and implied that higher prices could be more permane...

The 10-year Treasury yield declined a bit during the Afghanistan crisis, so all eyes are now on the Fed to see how new realities will impact monetary policy. The Fed released its latest FOMC minutes, which revealed a disagreement within the FOMC about when QE tapering will begin. On T...

Falling growth does not mean the economy is contracting. It merely means that the rate of increase is slowing. How much it slows is something we can't know yet, but it is exactly what we've been expecting for months as we watched bond yields drop. One reason I think the current enviro...

The confluence of the strong economic cycle and what we expect will be a step up in capital investment spending suggests a portfolio focus on industrials. We believe favorable market structures exist in areas as diverse as North American rails, aircraft production, airlines, HVAC manu...

The Commerce Department announced that sales of new homes declined 6.6% in June to an annual pace of 676,000, which is a post-pandemic monthly low. May’s new home sales were revised lower to an annual pace of 724,000, down from 769,000 previously reported. Durable goods orders ...

Sales of existing homes rose 1.4 percent in June, to a 5.86 million seasonally adjusted annual. Sales are up 22.9 percent from a year ago. The median sale price in June of an existing home was $381,800, 16.1 percent above the year-ago price and a new record high. The record-high p...

Unlike the GFC, when the collapse in the sub-prime RMBS market became the epicenter of the crisis, RMBS has survived largely unscathed during COVID, after an initial wobble. FTSE Russell now considers whether after dodging a post-COVID housing crash, this has become "the US Housing bo...

What happened last week, as with every other recent market pullback, was another rinse-repeat cycle as wait for it - despite news of the Fed wanting to taper and of more COVID shutdowns early in the week. There are now reports the Fed, due to concerns about COVID may put off the incre...

Demand from buyers who need a mortgage to fund the purchase of a home has been declining for months, and in the week ended July 2 fell further and is now down 14% from the same week in 2020 and down 8% from the same week in 2019. Mortgage applications are now at the low end of the ran...