US-China trade talks to continue in Washington

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Treasury Secretary Steven Mnuchin and trade representative Robert Leitheiser are on their way back to D.C. following two days of trade discussions in Beijing. At the end of their visit in China, the two officials met with President Xi. President Xi has announced that the talks will continue in Washington and that the two sides had made some progress. CNBC's Eunice Yoon reports.

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US-China trade talks to continue in Washington
US-China trade talks to continue in Washington

Mortgage Bankers Estimate 29% Surge in New Home Sales; Retail Sales Data Returns; Rates Fall

While we have not yet seen figures from the Census Bureau for December let alone January, the Mortgage Bankers Association (MBA) is reporting a surge in new home sales last month. Information from MBA’s Builder Application Survey (BAS) indicates that those sales, while unchanged from January 2018, increased by 43 percent compared to December 2018. The change does not include any adjustment for typical seasonal patterns. On a seasonally adjusted basis, MBA estimates sales were at an annual rate of 713,000 units. This is an increase of 29.2 percent from the December estimate of 552,000 units. Before adjustment MBA estimates that there were 54,000 new home sales in January 2019, up 45.9 percent from 37,000 new home sales in December. Joel Kan, MBA’s Associate Vice President of Economic and Industry
Mortgage Bankers Estimate 29% Surge in New Home Sales; Retail Sales Data Returns; Rates Fall
Mortgage Bankers Estimate 29% Surge in New Home Sales; Retail Sales Data Returns; Rates Fall

Mortgage Bankers Estimate 29% Surge in New Home Sales

Posted To: MND NewsWire

While we have not yet seen figures from the Census Bureau for December let alone January, the Mortgage Bankers Association (MBA) is reporting a surge in new home sales last month. Information from MBA’s Builder Application Survey (BAS) indicates that those sales, while unchanged from January 2018, increased by 43 percent compared to December 2018. The change does not include any adjustment for typical seasonal patterns. On a seasonally adjusted basis, MBA estimates sales were at an annual rate of 713,000 units. This is an increase of 29.2 percent from the December estimate of 552,000 units. Before adjustment MBA estimates that there were 54,000 new home sales in January 2019, up 45.9 percent from 37,000 new home sales in December. Joel Kan, MBA’s Associate Vice President of Economic and Industry…(read more)

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Mortgage Bankers Estimate 29% Surge in New Home Sales
Mortgage Bankers Estimate 29% Surge in New Home Sales

MBS RECAP: Dormant Data Returns in a Big Way

Posted To: MBS Commentary

Of all the reports silenced by the government shutdown, Retail Sales was probably the most missed. It didn't help that December is a rather important month for such data. December's report finally arrived today, and it made waves . While there has been some question as to how quickly markets would be willing to "trust" the economic data affected by the shutdown, traders were instantly willing to react in this case for 2 reasons. First off, the Census Bureau simply told markets that its collection efforts were solid right on the front page of the report. But even more important , in this case, was the size of the miss, with sales falling at their fastest pace since 2009. It was also a rare "down December" for the series, with 2014 being the only other example during…(read more)

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MBS RECAP: Dormant Data Returns in a Big Way
MBS RECAP: Dormant Data Returns in a Big Way

Rates Are Better Today, But Not Back to 1-Year Lows

Posted To: Mortgage Rate Watch

Mortgage rates recovered today after rising to the highest levels in a week as of yesterday. The improvement followed a much-weaker-than-expected Retail Sales report–something investors have been waiting on for nearly 2 months due to the government shutdown. Retail sales comprise an important part of economic activity, and the economy is one of the biggest considerations for interest rates. Generally speaking, economic strength pushes rates higher, all other thing being equal. Thus, the unexpectedly weak retail numbers had the opposite effect. How big was the effect? Not quite as big as most other media outlets would suggest. The discrepancy is due to the regular Thursday release of the industry’s most widely-cited mortgage rate report from Freddie Mac. While that report is accurate for the…(read more)

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Rates Are Better Today, But Not Back to 1-Year Lows
Rates Are Better Today, But Not Back to 1-Year Lows

JP Morgan rolling out its own cryptocurrency

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J.P. Morgan is rolling out the first US cryptocurrency backed by a bank. Engineers at the lender have created the "JPM Coin," a digital token that will be used to instantly settle transactions between clients of its wholesale payments business. While J.P. Morgan's Jamie Dimon has bashed bitcoin as a "fraud," the bank chief and his managers have consistently said blockchain and regulated digital currencies held promise.

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JP Morgan rolling out its own cryptocurrency
JP Morgan rolling out its own cryptocurrency

Fed governor: Some downside risks have increased

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Lael Brainard, Federal Reserve governor, joins CNBC's Steve Liesman to react to weaker than expected retail, what she sees as mounting downside risks, and slowing economic growth.

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Fed governor: Some downside risks have increased
Fed governor: Some downside risks have increased

Santelli Exchange: Jim Grant on the fed's balance sheet and negative interest rates

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Grant's Interest Rate Observer Founder and Editor Jim Grant and CNBC's Rick Santelli discuss the bond market in Europe.

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Santelli Exchange: Jim Grant on the fed's balance sheet and negative interest rates
Santelli Exchange: Jim Grant on the fed's balance sheet and negative interest rates

Business inventories for November miss estimates

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CNBC's Rick Santelli reports on business inventories for November, and the "Squawk on the Street" team discusses potential weakness in the economy.

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Business inventories for November miss estimates
Business inventories for November miss estimates

Retail sales suggests consumer affected by shutdown, Stifel economist says

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Lindsey Piegza, chief economist at Stifel, joins "Squawk Box" to break down the latest economic data, specifically the disappoint retail numbers from December.

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Retail sales suggests consumer affected by shutdown, Stifel economist says
Retail sales suggests consumer affected by shutdown, Stifel economist says