Home sales rebound after a year of decline, but uncertainty looms
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The latest data on U.S. home sales showed a huge rebound of 14.5% in February, reversing a trend of decline that lasted more than a year. That said, the market is still fraught with uncertainty, especially amid the recent jitters in the global financial sector. We talk to Guy LeBas of Janney Montgomery Scott about Treasury Secretary Janet Yellen’s recent announcement that the government would insure the balance of deposits at smaller banks. And, prior to the collapse of Silicon Valley Bank and Signature Bank, both institutions received favorable credit ratings from firms like Moody’s, prompting questions about what ratings are actually useful for.
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