<Click on chart for larger image> Bloomberg Business – Japan’s Nikkei 225 Rises 7.7% for Biggest Gain Since October 2008 Japanese stocks soared, with the Nikkei 225 Stock Average staging the steepest advance since the aftermath of the 2008 Lehman Brothers Holdings Inc. bankruptcy, amid speculation a selloff that drove valuations to an 11-month low… Continue reading Japan’s Nikkei 225 Historic Day
The Wall Street Journal – Why a Stronger Housing Sector Isn’t Boosting the U.S. Economy That Much Construction of single-family homes, which packs an outsize economic punch, has stalled, as new households rent and building costs have risen The U.S. housing market dragged the economy into a deep recession nearly eight years ago. Could it… Continue reading Does Housing Matter?
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<Click on chart for larger image> Bloomberg.com – Bond Market Sends Fed All-Clear to Raise Interest Rates Investors accept Yellen’s plan for gradual, data-driven policy Big differences from central-bank tightenings in 2004, 1999 Just about every indicator is telling the Federal Reserve Chair a move at next week’s policy meeting would cause government bonds little… Continue reading 8 Days Until The Fed Meeting
<Click on chart for larger image> The Wall Street Journal – China’s Forex Reserves Fall by Record $93.9 Billion on Yuan Intervention PBOC has been selling its dollar holdings to prevent the yuan from sliding further China’s foreign-exchange reserves plunged by a record amount in August, underscoring the strain endured by the country’s central bank… Continue reading China’s Forex Reserves
<Click on graphic for larger image> Barron’s – Cover: U.S. Stocks Could Rally More Than 10% by Year End Wall Street’s top strategists are bullish on U.S. stocks through the end of this year and into 2016. Why they like technology, financials. The bull has stumbled, but his run isn’t over. Despite the stock market’s… Continue reading Barron’s Bullish … Again!
Bloomberg.com – China’s Stock-Rescue Tab Surges to $236 Billion, Goldman Says Total spending is equivalent to 9.2 percent of free float Investor concern about state paring buying is overdone China’s government has spent 1.5 trillion yuan ($236 billion) trying to shore up its stock market since a rout began three months ago, according to Goldman… Continue reading Measuring China’s Support For Stocks
The Financial Times – Riskier mortgage bonds are back — but don’t call them subprime Yield-hungry investors are ready to endorse a revival of bonds backed by riskier US residential mortgages, as lenders warm to housebuyers who do not meet strict borrowing guidelines introduced after the financial crisis. High quality global journalism requires investment. But… Continue reading It’s Baaacck … Subprime Mortgages!
The Wall Street Journal – An Obscure Hedge Fund Is Buying Tens of Billions of Dollars of U.S. Treasurys Element Capital has been biggest purchaser in several recent auctions A little-known New York hedge fund run by a former Yale University math whiz has been buying tens of billions of dollars of U.S. Treasury debt… Continue reading The Mystery Buyer Of Treasuries?
The Financial Times – Mohamed El-Erian: Why higher market volatility is the new norm The unusual volatility that has taken hold of financial markets in recent weeks, resulting in some impressive moves up in asset prices and many more harrowing declines, will be with us for a while. Driven by a combination of tactical and… Continue reading Volatility
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The Wall Street Journal – U.S. Adds 173,000 Jobs in August U.S. employment growth slowed in August, but the unemployment rate fell more than expected due to a smaller labor force. Nonfarm payrolls rose a seasonally adjusted 173,000 in August, the Labor Department said Friday. Revisions showed employers added 14,000 more jobs in June and… Continue reading Employment In Pictures