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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (67327)	8/2/2006 6:38:06 PM
From: russwinter	Read Replies (1) \| Respond to of 110194

Cash Out Figures Have Not Been Higher Since Second Quarter of 1990 freddiemac.com McLean, VA – In the second quarter of 2006, 88 percent of Freddie Mac-owned loans that were refinanced resulted in new mortgages with loan amounts that were at least five percent higher than the original mortgage balances, according to Freddie Mac's quarterly refinance review. This percentage is up from the first quarter of 2006, when the share of refinanced loans that took cash out was a revised 86 percent, and is the highest since the second quarter of 1990. Just the same Bully wannabee SBUX bombed on it's July same store sales, up 4%. That's just price increases. SBUX mgt claims it was slow service and a "run on icy frappacinos" during the hot weather.

To: mishedlo who wrote (67327)	8/2/2006 7:13:02 PM
From: russwinter	Respond to of 110194

China's booming factories willing to boost prices By Chris Oliver, MarketWatch Last Update: 1:22 AM ET Aug 1, 2006 HONG KONG (MarketWatch) -- Chinese manufacturers are more willing to pass along rising input prices to end users, according to a survey on China's industrial sector released Tuesday. The finding coincides with data showing China's manufacturing sector accelerated in July, supported by growth of output and new orders. Investment bank CLSA said its Purchasing Managers' Index (PMI) for China, a composite indicator designed to provide a snapshot of the health of the manufacturing sector, rose to 53 from 52.9 in June, its highest level since May 2005. The rise in production marks the eighth consecutive monthly index gain, and signals an accelerating expansion in the manufacturing sector, the brokerage said "The PMI is signaling another modest acceleration, exactly what the authorities don't want to see," deputy chief economist at CLSA, Eric Fishwick, said in a statement. " "Further austerity measures should be expected with the inevitable result that finally Beijing will tighten too far and push the economy into a recession." He added input price inflation eased sharply from record levels in June, however raw materials and energy prices were still at historically high levels. Although the rate of output price inflation had eased, firms raised prices they charged for finished goods for a fourth consecutive month in July. Fishwick said although Chinese manufacturers were willing to absorb some costs against margins, there was an increasing willingness to pass along the cost of higher manufacturing prices to consumers. He added anecdotal evidence suggested manufactures were becoming more confident of pricing power, signaling an important global shift. "The era of China 'exporting deflation' is long over," he said. "For the fourth month, both input and output price indices were above the 50 breakeven line, signaling that businessmen have no choice but to try and pass input price rises on." The survey also noted employers hired new workers at the fastest pace in 16 months. Despite enhanced staffing levels, firms were still incapable of keeping up with booming orders, with order backlogs now at their highest levels in 10 months. Chris Oliver is MarketWatch's Asia bureau chief, based in Hong Kong.