Bill Sullivan
Bill Sullivan
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Conceivably, as the number of households that refinanced dropped off, the ability for consumers to enhance cash flows and service other debt loads eroded as well, thus partially accounting for the upturn in late payments.
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And she listens better. We also have a very high level of love and respect for each other.
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Even though the rising pattern in borrowing costs is a form of restraint, it is being offset by a surge in equity wealth as the stock market records consistent gains.
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In our judgment, this pattern could be another exhibition of household balance sheet stress, as the shift would seem to suggest that a relatively small rise in 30-year rates apparently excludes a significant number of prospective home buyers from qualifying for mortgage credit.
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It is no coincidence that households found it more difficult to maintain current payment schedules just as the volume of refinancing activity began to dry up as the second half of the calendar year got underway,
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The lesson of the last half decade is the need to manage risk. In my judgment, the investing public is a lot more amenable to owning fixed-income securities now than at any time in the last 15 or 20 years.
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This is a continued negative reaction to Friday's employment report. More investors are realizing the Fed may tighten policy more aggressively than originally thought.
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Compared to last year where I had to drive all the way to Canada and pay 40 dollars, this is wonderful. I walked in, it took about two and a half minutes for the whole procedure.
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The lack of such short-term borrowing thus far in the current cycle seemingly contradicts the notion that a brisk expansion is under way.
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This is a very fragile recovery process. It's been reliant on these low borrowing costs. If we remove them, we effectively deny the economy its support.
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A lot of businesses are going to slow. There's going to be lost sales, lost revenues, lost activity.
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Good news on the recovery front. Obviously, equity investors feel that this is an environment that produces better earnings.
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Last year, our revenue grew by 30% in India and we hope it continues.
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Activity is very light ahead of Greenspan's testimony tomorrow, ... We really shouldn't see much movement . . . there is no prominent economic data out today.