Update: In an interview, the attorney representing the holdout creditors alleges that some of his clients were intimidated by the “executive branch” into taking the offered deal. They were told that “the full force of the White House press corps would come down on them” if they didn’t agree to the deal. Two things come to [...]
According to the Bureau of Economic Analysis, US gross domestic product- the output of goods and services produced by labor and property located in the United States - contracted by 2.6% in the last year, the biggest decline since 1982. For the latest quarter, things didn’t get any better, as GDP fell at a 6.1% annualized rate, following [...]
Weekly calendar of latest economic events and indicators, complete with full reports, charts, graphs, and in-depth analysis.
Monday
None
Tuesday
S&P/Case-Schiller Home Price Index - Full Report, Charts/Analysis
Wednesday
Gross Domestic Product - Full Report, Charts/Analysis
FOMC Announcement - Full Report, Charts/Analysis
Thursday
Initial Jobless Claims - Full Report, Charts/Analysis
Personal Income and Outlays - Full Report, Charts/Analysis
Friday
Factory Orders - Full Report, Charts/Analysis
ISM Manufacturing Index - Full [...]
The assets assumed by the Federal Reserve from Bear Stearns and AIG are held in seperate vehicles called Maiden Lane I, II and III. Yesterday, the Fed disclosed the performance of those assets through Dec. 31st (via Bloomberg):
April 24 (Bloomberg) — The Federal Reserve took on more than $74 billion in subprime mortgages, depreciating commercial [...]
