Chillin' out till it needs to be funded
The MBA report for the week Jan 14 showed great elasticity at 23% composite and 26% Refi to grow back above its near term moving averages, completing the weeding of the trough of Christmas and Purchases back to August highs. Goldman Sachs results proppe dup the failing confidence as the bank came out with abysmal and a wonderfully managed profit od $4/.51 per share for the year with comp ratio stuck at 42.4% without a single doubt over its reporting and accounting practices
Refi rates are at their lowest and America’s Heritage Bank is likely to be held to a bigger balance sheet in 2012 to just maintain touch with J P Morgan as both Mortgages and Cards come out of the great four year heave ho. The Economy may dip yet again, very few positive voices left, but we seem to have found that elusive bottom from which to move with PPI holding a small 0.1% gain and GS – ICSC retail store sales just about managing a 0 score(0.1).
The Euro again just celebrating a bounce in auctions after the already priced in downgrades timed to a T on the MLK weekend died much before in the business of bank results this week