Economic Update NOVEMBER 17th, 2009
Unemployment surpasses 10% Tax credit for 1st time homebuyers Reuter’s/ University of Michigan Consumer Sentiment Index US$ Index Trade Deficit Key Points
October unemployment 10.2% Builders and factory workers lead claims Creation of jobs Unemployment
Changes to Homebuyers Tax Credit Changes: expand income limits homes up to $800,000 existing homeowners for primary residence Problems: End of tax credit: prices will reset Variable rate mortgages
Other Indicators Consumer Sentiment – 70.6% in October to 66.0% in November 73.5% in September Dollar Index – to Trade Deficit – Widened to $36.5 billion in September from a revised $30.7 billion in August
Consumer Sentiment
Dollar Index (DXY)
Dollar vs. Gold
TED Spread
LIBOR-OIS Spread
VIX % Implied