News 

Bernie Sanders concedes defeat on tax reform: ‘We did everything that we could’

“Bernie Sanders said opponents of the Republican tax reform plan did all they could to stop it and essentially conceded defeat before a vote scheduled for Tuesday” writes Kyle Feldscher for washingtonexaminer.com. Congress is set to send a conference bill, cutting tax rates for most Americans and closing many popular deduction loopholes, to President Trump this week.And their job is to represent multi-national corporations, not working families. Source: washingtonexaminer.com Share This:

Read More
News 

What’s in—and Out of—the Final Republican Tax Bill

“Republicans had wanted to use the tax bill to eliminate a 1954 law restricting the political activities of churches and other nonprofits” writes Russell Berman for theatlantic.com. How Republicans Closed the Deal on Tax Cuts Republicans had wanted to simplify the individual tax code so much that Americans could file their returns on a postcard.GOP leaders initially feared doing this in the tax bill would blow up the legislation, but they didn’t face as much opposition from rank-and-file members as they expected.For many people, this will represent the biggest tax…

Read More
News 

A look at some winners and losers under the GOP tax plan

“Congress could decide years from now to extend the lower tax rates” writes The Associated Press for seattletimes.com. But under the tax bill, they will lose the financial incentive to do so.Rather than close loopholes, the tax bill appears to create more of them.By eliminating this mandate, the tax bill will likely deprive 13 million people of insurance, according to estimates by the Congressional Budget Office.Companies would enjoy a bounty from permanently lower tax rates. Source: seattletimes.com Share This:

Read More
News 

Home prices in Canada are falling, and some homeowners could be in serious trouble

“But the risk appetite in housing continues as the housing & debt bubble ascends to the next level of risk” writes Wolf Richter for businessinsider.com. Canada’s infamous household-debt-to-disposable income ratio, one of the highest in the world, rose to a breath-taking record of 173.3%.Disposable income in 2016 got hit by “a significant downward revision,” based on new data received from Canada’s tax collection agency, Statistics Canada said.Hence the consistently rising and record-breaking debt-to-disposable income ratio above.In a separate report also released on Thursday on the distribution of income and assets, Statistics Canada…

Read More
Markets News 

Cramer’s game plan: Strong earnings will drive the market higher

“As the bull market surged higher despite holdups in the Republican tax overhaul, CNBC’s Jim Cramer took the temperature of the market to see if the strength could continue” writes Elizabeth Gurdus for cnbc.com. “We still don’t even know what’s finally going to happen in Washington, but as I told you last night, we’re in a ‘damn the torpedoes, full speed ahead’ moment … because of corporate earnings — witness the pin action from Costco and Adobe,” the “Mad Money” host said. Source: cnbc.com Share This:

Read More
News Regulators 

Fed’s Evans says he voted against raising interest rates because inflation is too low

“The Fed on Wednesday voted 7-2 to raise a key U.S. interest rate to a range of 1.25% to 1.5%” writes Jeffry Bartash for marketwatch.com. Chicago Federal Reserve President Charles Evans said he voted against the U.S. central bank’s decision to lift interest rates this week because inflation was too low to justify an increase in the cost of borrowing money.In a statement Friday, Evans said he’s worried inflation could remain unusually low and he wanted to wait for more information before acting.He repeatedly stress concerns about low inflation before…

Read More
News Regulators 

Gold ends slightly higher, marks first weekly rise in a month

“Seasonally, January is generally a good month to own precious metals, particularly gold,” he said” writes Markets Commodities Reporter for marketwatch.com. Prices got a boost after the Federal Reserve announced its decision this week to raise interest rates, as expected, and didn’t change its forecast for inflation and interest rates in 2018.Gold ended with a modest climb Friday, logging a gain for the week following three-straight weeks of declines.”The outlook for gold is good. February gold GCG8, +0.06% rose 40 cents to settle at $1,257.50 an ounce. Source: marketwatch.com Share This:

Read More
News 

Google Dives Deeper Into Travel Commerce With Price-Tracking

“Google is helping travelers using Google services find better rates on trips, flights and hotels by expanding its booking features” reports pymnts.com. While the price-tracking features are similar to those that some other travel sites, like KAYAK and Hopper, already offer, Google is making them more broadly accessible to everyone searching for travel information on the web. Source: pymnts.com Share This:

Read More
News Regulators 

Yield curve flattens further on growing expectation for Fed to raise rates

“The 10-year German bond yield TMBMKDE-10Y, -0.60% was barely changed at 0.310%” writes Sunny Oh for marketwatch.com. The 10-year French bond yield TMBMKFR-10Y, -1.49% edged higher a basis point to 0.644%.The 30-year bond yield TMUBMUSD30Y, -0.63%  added 2.8 basis points to 2.710%.Holders of U.S. government paper watch European interest rates closely as they tend to move in lockstep with U.S. rates, with some analysts saying that low European yields have kept a lid on Treasury rates.The 2-year note yield TMUBMUSD02Y, +2.07%  rose 2.4 basis points to 1.811%. Source: marketwatch.com Share This:

Read More
Markets News 

Mortgage rates pause but appear poised to drift higher

“The government-backed mortgage-backer aggregates rates weekly from 125 lenders from across the country to come up with national average mortgage rates” reports washingtonpost.com. The Fed doesn’t set mortgage rates, but its decisions tend to influence them.Mortgage rates remained stuck in a holding pattern this week and have barely budged since October.The refinance index fell 3 percent, while the purchase index slipped 1 percent.But higher rates are not all bad, said Realtor.com senior economist Joseph Kirchner. “Despite decreasing affordability in an already pricey housing market, higher interest rates might have a…

Read More