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The Future of Transatlantic Trade and Investment: Opportunities and Challenges

May 23rd, 2013
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Event Information May 23, 20131:30 PM - 2:30 PM EDT Falk AuditoriumBrookings Institution1775 Massachusetts Avenue NWWashington, DC 20036

New Home Sales at 454,000 SAAR in April

May 23rd, 2013
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The Census Bureau reports New Home Sales in April were at a seasonally adjusted annual rate (SAAR) of 454 thousand. This was up from 444 thousand SAAR in March (March sales were revised up from 417 thousand). January sales were revised up from 445 thousand to 458 thousand, and February sales were revised up from 411 thousand to 429 thousand. Very strong upward revisions. The first graph shows New Home Sales vs. recessions since 1963. The dashed line is the current sales rate.

AAII Bullish Sentiment Approaches 50%

May 23rd, 2013
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Investors sure picked a bad time to turn increasingly bullish this week.  According to the weekly sentiment survey from the American Association of Individual Investors (AAII), bullish sentiment increased by more than ten percentage points rising from 38.49% to 48.97%.  This is the largest weekly increase since 3/14, and it represents the highest weekly reading since 1/24.

Europe’s Lost Keynesians

May 23rd, 2013
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Rogoff write for Project Syndicate here.

A Candid Discussion with Mehrzad Boroujerdi

May 23rd, 2013
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Mehrzad Boroujerdi on Iran’s Fractured Politics 

New from the Central Bank

May 23rd, 2013
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Speech by Patrick Honohan on mortgage modification here. Economics Letter by Reamonn Lydon on reduced consumption of mortgage-distressed households here. Macro-Financial Review here.

Jobless Claims Better Than Expected

May 23rd, 2013
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Following yesterday's testimony from Fed Chairman Ben Bernanke, if there was a week where investors may have wanted a weaker than expected jobless claims report, it was probably this one.  While claims did not come in higher than expected this week, they were only modestly better than expected, so those investors will have to take what they can get.  While economists were looking for weekly claims to come in at 345K, the actual level came in at 340K, representing a 23K drop from last week. 

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