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S&P: Alt-A Loan Defaults Remain Uncomfortably High
The growth rate of Alt-A loan delinquencies remains uncomfortably high, but defaults are beginning to moderate, a new industry survey shows.rnrnThe Alternative-A RMBS Performance Update report from Standard & Poor’s says that as of the July 2009 distribution date, total delinquencies were 27.49% for the 2005 vintage, 39.25% for the 2006 vintage, and 35.85% for the 2007 vintage.
Mid-Day Recap: Stocks at 2009 Highs Heading Into Weekend
Equity markets are closing the week on an optimistic note as modest gains were extended after housing data bolstered sentiment and the Federal Reserve chairman said a global recovery was underway.rnrnThree hours into the session, the benchmark S&P 500 was leading with 1.67% gain to 1,024, while the Dow was up 1.52% to 9,492, and the Nasdaq was following a with a 1.36% gain to 2,016. For the week, the S&P is up close to 2%.
Bernanke Reflects on Crisis, Reitereates "Leveling Out", Reminds of Slow Recovery
Recovery from the worst global financial crisis since the 1930s appears to be on the way, and though new activity may be slow in its early stages, noteworthy progress has already been made, said Ben Bernanke, chairman of the Federal Reserve.rnrn“After contracting sharply over the past year, economic activity appears to be leveling out, both in the United States and abroad, and the prospects for a return to growth in the near term appear good,†the chairman said at an annual conference in Jackson Hole, Wyoming.
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