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Obama Signs Home Buyer Tax Credit Extension. Will It Be Effective?
President Barack Obama signed into law this morning legislation extending the $8,000 tax credit beyond its current November 30 expiration date. The bill also provides a tax incentive to veteran homeowners who wish to relocate.
Fannie Mae Posts Big 3Q Loss; Asks Treasury for More Money
Fannie Mae reported a loss of nearly $19 billion in the third quarter due largely to credit-related expenses. The resulting deficit has prompted FHFA to ask Treasury for an advance of $15 billion, the second cash infusion in three months.
Fannie Mae Needs Another Bailout; Markets Wait for Jobs Report
Trading is cautious ahead of the month’s most important indicator. Equities jumped more than 2% on Thursday on optimism for the labor market and positive earnings from blue-chip companies, but sentiment is more cautious in the final hour before nonfarm payrolls.rnrnDow Futures continue to dance around the 10k level while S&P 500 futures trade half a point higher at 1,064. WTI crude is back below the $80 per barrel mark, but Spot Gold is up more than $3 to $1,093.38. Meanwhile, the dollar is weaker against the yen, euro, and Aussie dollar, but stronger against the Canadian loonie.
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Published by the Federal Reserve Bank of San FranciscoIt was recently published by the Federal Reserve Bank of San Francisco, which is about as official as you can Read More...