U.S. stocks continued their sell off yesterday and have been a yo-yo so far today. President Obama’s authorization of airstrikes in Iraq, the Ukraine situation and poor economic information from Europe have investors on edge. (CNBC)
The flight from risky bonds could be gaining momentum. In one of the biggest signs yet of growing concern over risky assets, investors pulled a record $7.1 billion from high yield, otherwise known as junk, bond funds last week and bailed out of equity exchange-traded funds at the most frantic pace in 6 months. (Reuters)
Worker productivity in the second quarter rose 2.5%. Unit labor costs were up 0.6%. (Bloomberg)
That old tired coffee pot at work is becoming a thing of the past. Keurig Green Mountain, maker of the popular Keurig one-cup coffee brewers, reported a 33% rise in quarterly profit as more people opted for its single-serve coffee pods. Sales rose 5.7%. (Reuters)
Mortgage closing costs are rising in Oregon. An Oregon homebuyer seeking a $200,000 mortgage with a 20% down payment and excellent credit, would pay $2559 in origination and third-party fees, up 7% from a year ago. Oregon's closing costs are the 20th highest in the nation. (Oregon Live)
Join us Saturday at 10 for Financial Focus, Your Smart Money Radio, when we will have our health insurance expert, Don Klippenes of Health Insurance Strategies as our guest.