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☆ Home buyers are facing the least affordable market on record
  + stars: | 2023-06-03 | by ( Phil Rosen | ) www.businessinsider.com   time to read: +4 min
Joe Raedle / Getty ImagesEdward Seiler is the associate vice president for housing economics at the Mortgage Bankers Association. Phil Rosen: The MBA's Purchase Applications Payment Index just hit a new high in April. For new home buyers, this is the worst situation since the end of the Great Recession. Current homeowners that were lucky enough to get a 2.75% interest rate in 2022 are in a great position, but for new buyers looking to buy a first home, or those looking to move to another home, it's a very daunting proposition. In his view, monthly payments for first-time buyers are up roughly one-third compared to last year — and that's going to keep buyers on the sidelines and weigh on demand.
Persons: I'm Phil Rosen —, Joe Raedle, Edward Seiler, Phil Rosen, Jen, Hsun Huang, Huang, Kim Kulish, Gregg Fisher, he's, Jensen Huang, It's, There's, Evercore's Mark Mahaney, Meta, shouldn't, David Rosenberg, who's, Larry Pitkowsky, Max Adams Organizations: Mortgage, Association, Twitter, Nvidia Corp, GPU Technology, Nvidia, Treasury Department, Fed, Tech Locations: San Jose , California, New York
☆ A debt-ceiling deal may be close but the crisis likely isn't solved for good. Here's what would happen if the US actually defaulted on its debt.
  + stars: | 2023-05-27 | by ( Phil Rosen | ) www.businessinsider.com   time to read: +5 min
So the Treasury market remains intact in this scenario? JL: The broader US economy will suffer, the stock market will suffer, there will be higher unemployment. So just because the Treasury market ends up doing fine does not mean good news for the US economy. If you think the stock market isn't signaling there's a recession looming, David Rosenberg says otherwise. The AI hype gripping the stock market will resemble a mini dot-com bubble, according to UBS's Art Cashin.
☆ The US dollar's outlook is complicated. Here's what to know about the currency's standing on the world stage.
  + stars: | 2023-04-18 | by ( Phil Rosen | ) www.businessinsider.com   time to read: +5 min
The dollar's position as a top reserve currency, however, may be somewhat less certain. They pointed to Russia's invasion of Ukraine as a catalyst for the currency's drop-off as a reserve currency. "We believe the erosion of the dollar's reserve currency status has accelerated in recent years at an alarming pace," Eurizon said. Here's the takeaway forecasters seem to agree on: The dollar's losing some ground as a global reserve currency, but none at all as far as international trade. What's your outlook for the dollar's role on the world stage in 2023 and beyond?
☆ The resilient job market is finally showing signs of cooling off
  + stars: | 2023-04-10 | by ( Phil Rosen | ) www.businessinsider.com   time to read: +4 min
The job market is clearly starting to slow down. Mohamed El-Erian said March's jobs report was a win-win for both the stock market and the Fed. "We are making this transition where the stock market was obsessed with interest-rate risk to one that is concerned about credit risk." What's your take on the latest job data? In other news:Traders works on the trading floor at the New York Stock Exchange (NYSE) in New York City, U.S., March 5, 2020.
☆ Shark Tank investor Kevin O'Leary breaks down his latest crypto bet as regulators look to crush 'rogue' operators
  + stars: | 2023-04-04 | by ( Phil Rosen | ) www.businessinsider.com   time to read: +5 min
I caught up with Shark Tank investor Kevin O'Leary, an active crypto investor and market veteran, to get his take on the digital asset sector and recent regulatory action. Since November, he's moved his holdings to Canada, where he uses WonderFi, a name he's backed as an investor. They told regulators 'go get them,' and all of a sudden we have a mountain of enforcement action." The SEC said it's "neutral" about the technology at hand, yet "anything but neutral when it comes to investor protection." I bet if you looked at who's managing these companies 36 months from now, all the current guys are gone."
☆ A key indicator says a recession is guaranteed in 2023 — and Bill Ackman, Nouriel Roubini, and others are warning of trouble ahead
  + stars: | 2023-03-24 | by ( Phil Rosen | ) www.businessinsider.com   time to read: +6 min
From the central bank's latest rate hike to new developments in the ongoing bank crisis, a lot has happened in my absence. And all the while, Jerome Powell's favorite bond-market indicator is quietly telling us that a recession is all but guaranteed this year. Talk of basis points, yield spreads, and other market jargon is obscuring the key message here: Markets think a recession is guaranteed in 2023. How much credence as a recession signal do you give the bond market indicator? He said the current bank crisis isn't a redux of that era, or even of 2008.
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