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Recovery on its way
January 19th, 2010These are headline stories from
December’s Wall Street Journal
- GM is repaying the 6.7 Billion it borrowed early
- Wells Fargo and Citigroup repaid gov’t aid
- Consumer spending is rising number of newly built unsold homes declined to lowest level since 1971
- Some mortgage companies are beginning to relax down payment requirements- a sign of confidence in housing markets.
- Success rate for troubled mortgages is improving
- Exxon agreed to buy XTO, betting natural gas will play a big role in meeting future energy needs ( Upstate NY’s Marcellus Shale deposit prime focus of article)
- 52 billion in stock pulled out last year reinvesting in commodity based assets and stocks
- Dollar rising amid speculation that an improved economy will lead to higher interest rates
- Investors are jostling to buy a $1.1billion package of RE loans showing a resurgence of interest in these once toxic assets.
- New Housing data showing fresh signs of stabilization
- Economic data offered more evidence that strength is returning to manufacturing sector and labor market is improving.
- Retail sales rose 3.6% from last year best since 2006.
- China is ramping up investment in developed nations.
- Economy is primed for a stronger finish to 2009 than forecasters expected
