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28 Mar 2005 10:41 AM
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House sales may slow down on mortgage rates climb:
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The sizzling housing market can be finally expected to cool down as the rising mortgage rates make home buyers pause before making a decision. Realtors, however, remain optimistic as they project the market will still remain vibrant despite relative slowdown.
Much
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28 Mar 2005 08:09 AM
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Stock funds lose value:
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The drop in the stock market in the first quarter took its toll on the equity funds, causing a drop in most of them in the same period, found research firm Lipper Inc.
All stock funds lost about 2.68 percent through March 24, while diversified stock funds fell an average of 3 percent
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25 Mar 2005 08:49 AM
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Sell your dollars, says Citigroup:
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Speculation about the Fed’s next move has been behind most predictions as to the US currency’s possible movements in 2005.
In one of the most recent forecasts, the Citigroup Inc., the world’s biggest financial services company, advises selling
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23 Mar 2005 07:52 AM
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Fed makes another quarter-point hike though « pressures on inflation» pick up:
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The US Federal Reserve did not fail analysts’ expectations raising the fed funds rate to 2.75% in a unanimous decision. The statement of the Fed, despite projections, keeps the word «measured», but contains indications as to the possibility of a more aggressive tightening in the future.
The Fed sees inflation as mounting in the months to come as policy-makers have made sure that the recovery
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22 Mar 2005 08:16 AM
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Fed expected to make one more measured quarter-point increase:
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The Federal Open Market Committee is forecast to raise the key US rate by a quarter-point to 2.75% in its statement due at 2:15 p.m. EST today.
This move in the Fed funds rate is expected to come as one step in the series of «measured» quarter-point increases that Fed has been following since raising the rates for the first time in June 2004. Now expectations hinge
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21 Mar 2005 09:45 AM
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Dollar rises on anticipation of Fed’s agressive moves and HK official’s urges:
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The dollar reached a two-week high against the euro rising to $1.3214 from $1.3325 on March 18 in New York,on anticipation of a Fed’s projected increase in interest rates and statement by a Hong Kong monetary official.
Hong
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18 Mar 2005 05:26 AM
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Two bills against predatory mortgage lending compete in Congress:
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Congressmen are on the war path against predatory lending and mortgage fraud. On March 16 Congressmen Bob Ney (R-OH) and Paul Kanjorski (D-PA) introduced a bill against abusive mortgage lending practices, competing with the Prohibit Predatory Lending Act of 2005, modeled after a 1999 North Carolina anti-predatory lending law, introduced a week earlier by US Congressional Representatives Brad Miller (D-NC), Mel Watt (D-NC), and Barney Frank (D-MA).
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17 Mar 2005 08:52 AM
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AIG may adjust figures after internal accounting review:
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American International Group Inc.’s new chief executive Martin J. Sullivan, the group’s third-ever leader, has a formidable task ahead.
The company’s internal accounting review has discovered that some figures need to be adjusted, according to a person familiar with the matter. The probe was undertaken since AIG was worried that it might get a negative
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16 Mar 2005 08:35 AM
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AIG drops 3% on probe into deal with General Re:
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Analysts still think AIG’s stock is a buy even though the company’s share price has plunged 13.7% since the announcement of the SEC and New York Attorney General Eliot Spitzer’s probe into the its accounting on Feb. 14.
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11 Mar 2005 08:21 AM
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Dollar hits back ahead of US trade data:
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The U.S. dollar regained some of the ground it lost in overnight Asian trading Friday as traders realized the greenback could have been oversold.
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03 Mar 2005 10:59 AM
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Greenspan cracks down on US budget deficit; shows optimism on economy:
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U.S. Federal Reserve Board chairman Alan Greenspan spoke yesterday about the state of the US economy, issuing harsh warnings on the menacing budget deficits.
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22 Feb 2005 12:31 PM
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Fed rates impact on economy puzzles analysts:
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Most surprisingly, the increases in fed rates did not trickle into long-term rates. 30-year fixed-rate mortgage rate was down to 5.48%, a 10-year low. Bond markets have beaten records as rates continue on Treasurys to fall.
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11 Feb 2005 10:22 AM
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Any surprises from Fed soon?:
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The Fed has grown all too predictable with its rate hikes as the US monetary policy makers have raised rates six consecutive times since last summer, and every time the rate was increased a quarter-point. Some were expecting the Fed to tighten its grip at last week’s meeting opting for a half-point rise based on the more hawkish tone of the previous meeting’s minutes. But the Fed did not deviate from its announced policy of measured
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09 Feb 2005 09:51 AM
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Dollar prospects shaky in the near future despite support from Bush and Greenspan:
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The US currency has had a number of reasons to rise over the past few days. Friday the markets were reassured about the greenback’s prospects by Fed Chairman Alan Greenspan who said that the US huge trade deficit can be reduced by market forces and a drop in the budget deficit. The optimism somewhat waned
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02 Feb 2005 09:48 AM
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Dollar near-term prospects looking up on Fed rate hike:
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The dollar looks firm in the near term, some analysts believe as the interest rate differential between US and Europe is expected to attract more capital to the US. The Fed is believed to raise the benchmark Fed Funds rate charged for overnight loans to 2.5% compared to the analogous rate of the European Central Bank left unchanged at 2% in a policy meeting on Thursday.
"Regardless
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