Confidence among U.S. Consumers climbed in June to highest level in 5 years - Nirmal Bang

Confidence among U.S. consumers climbed in June to the highest level in more than five years, an indication spending will probably accelerate after cooling this quarter. The Conference Board's index rose to 81.4.

China's efforts to rein in shadow banking, which contributed to the nation's worst credit crunch in at least a decade, haven't driven up costs for borrowers in at least one place: Wenzhou. On June 20, as the nation's banks demanded a record 30% to lend to each other for one day, small businesses in the export hub paid 23.42% for one-month loans from pawn shops, small lending companies and individuals. That's almost unchanged from this month's average of 23.17%.

Orders for U.S. durable goods rose more than forecast in May, reflecting broad-based gains that signal manufacturing is stabilizing. Bookings for goods meant to last at least three years climbed 3.6% for a second month.

Home prices climbed more than forecast in the 12 months through April, rising by the most in more than seven years and showing further strength in the U.S. housing market. The S&P/Case-Shiller index of property values increased 12.1% from April 2012, the biggest year-over-year gain since Mar 2006, after advancing 10.9% a month earlier.

Source : Equity Bulls

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