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Wednesday, 29 July 2015

Brazil's Credit Rating Junk By S&P, & More





Image result for brazil economy


"The ratings company said in a statement Tuesday it revised the outlook on Brazil’s rating to negative from stable. The country’s rating from S&P is already at BBB-, the lowest investment grade.
The ratings move adds to challenges for President Dilma Rousseff and her economic team led by Finance Minister Joaquim Levy as they duel with Congress to shore up fiscal accounts at the same time the country slips into recession. "





"Brazil’s real led global declines and fell to a 12-year low after Standard & Poor’s changed the outlook on the nation’s credit rating to negative, citing challenges to balancing the budget and the unprecedented investigation of public officials."



Image result for ECB"The combined balance sheet of the European Central Bank and the euro zone's 19 national central banks rose by 6.2 billion euros ($6.85 billion) to 2.525 trillion euros in the week to July 24, the ECB said on Tuesday."








"Exit strategies used to be the preoccupation of Pentagon planners. Nowadays, it’s more a province for central bank watchers, since the Federal Reserve gorged on trillions of dollars of mortgage and government debt.
And in that economic realm, China has just added a new conundrum. The dependence of the nation’s stock market on official support was exposed Monday with the biggest drop since 2007 amid speculation aid had been dialed back. The Shanghai Composite Index fell 1.7 percent Tuesday even after China pledged to keep up efforts to “stabilize” the market."







"According to a new study released on Tuesday by CIBC, the average Canadian expects to be debt free by the time they reach the age of 56 years old; however, some Canadians forecast debt well into their sixties.
Only a third, or 29 per cent, of Canadians are debt free, while 13 per cent do not foresee a future without debt."


"The last time homeownership levels were this low, LBJ was president.
Data released by the Census Bureau on Tuesday reveal that the U.S. homeownership rate stood at 63.4% for the second quarter of 2015. The rate is down slightly compared to the first quarter (63.7%), and it represents the lowest level of homeownership in America since 1967."








estate agent signs"Responding to the figures, Campbell Robb, Shelter’s chief executive, said: “When house prices soar by this much in a single year thanks to our housing shortage, it’s clear that for millions of people across the country, a home of your own is fast becoming a pipe dream.”"






Rent prices jump, indicating coming crisis
"Low vacancy rate, high cost of home ownership conspire against renters"













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