Summary for Week Ending June 10th from Calculated Risk

Summary for Week Ending June 10th

from Calculated Risk by CalculatedRisk

Last week was a light week for economic data. The trade balance report showed a decline in the April trade deficit as exports hit a new record high and imports declined. On the U.S. housing market, CoreLogic reported that 10.9 million residential properties had negative equity at the end of the first quarter of 2011 (the property owner owed more on their mortgage than the value of the property). These are the property owners most likely to default, especially those with loans greater than 125% of the value of the property.

Also, in a closely watched speech last week, Fed Chairman Ben Bernanke was somewhat downbeat on the U.S. economic outlook.

There will be much more data next week. Below is a summary of economic data last week mostly in graphs: