Industry NewsMarkets & Economy

U.S. credit problem: hiding in plain sight

Commentary: Housing downturn to go from 'Abbottabad' to worse?
Published on May 13, 2011

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by CareyBot

Financial markets have been on hold this week, the freeze a perfect reflection of widespread uncertainty about the U.S. and global economies.

Long-term Treasury and mortgage rates have held their dramatic, near-half-percent drops of the last month, but the declines themselves tend to prevent any further downward movement.

A deeper slide will require something new: weaker data here, or Europe finally cracking (see Morgan Kelly's commentary in the Irish Times), or a China slowdown.

The small-business survey at weakened slightly in April but broadly, with seven of 10 components falling, and