Policymakers should ensure that the nation's Federal Home Loan Banks—which enable community banks to efficiently support housing finance and community investment—continue to be a reliable source of liquidity for their member institutions says ICBA's @HaynieRon via @AmerBanker: https://t.co/XjEERliult
BREAKING: The number of unsold completed single-family homes jumped 31,000 year-over-year in March, to 119,000, the highest since July 2009.
Unsold completed homes for sale have TRIPLED over the last 3 years.
As a share of housing starts, unsold homes jumped to ~12%, the highest since 2012.
By comparison, at the height of the 2008 Financial Crisis, this percentage was as high as 45%.
This all comes as housing demand continues to weaken due to elevated mortgage rates and near-record home prices.
The housing market needs a cool-down.
Artificial intelligence roles the ‘only safe jobs in banking’
World’s biggest banks have increased the number of employees working with artificial intelligence by 13% in the past six months https://t.co/IHVUWH8qt7 | @ComputerWeekly
Thrilled to have @JohnHeltman and @kateberry1 on the pod to talk about Trump vs. Powell, the CFPB on the line and more!
Listen on Apple: https://t.co/MnvtLZk0eK
Spotify: https://t.co/vxK8fbp8d7
Services Index from @DallasFed fell to -19.4 in April … steep decline from prior month’s -11.3; employment fell further into contraction, outlook uncertainty spiked, and input prices moved higher (again)
BREAKING: Foreign investors have sold $22 billion of US stocks so far in April, according to Goldman Sachs.
This follows a whopping $41 billion sold in March, the most in at least a year.
High-frequency fund flow data suggests that the biggest sellers have been European investors.
However, overseas investors still own ~$16 trillion of US stocks, or ~23% of total US stock market value.
As money has flowed out of the US, the Euro has strengthened against the US Dollar by 9.5% since the beginning of March.
Will Europeans continue moving money back home?
For the 4th consecutive year, ICBA's @romerorainey has been recognized by @washingtonian in the 500 Most Influential People feature, as part of the publication’s banking and finance list. Join us in celebrating 🎉 https://t.co/Zxoj1oOgQH