The New York Post – John Crudele: Fed’s ‘Doomsday Book’ written to save the market So, we learned from the trial of insurance giant AIG in New York last week that the Federal Reserve has a “Doomsday Book” that the government doesn’t want the judge to make public. This is allegedly a gameplan that gives special… Continue reading Doomsday Book
<Click on graphic for larger image> The Washington Post – The Washington Post’s election model gives Republicans a 95% chance of winning the Senate. Um, what? The Washington Post’s Election Lab — our statistical model designed to predict outcomes of the various races on the ballot this fall — is currently showing Republicans with a… Continue reading Latest Polls Strongly Favor A Republican Senate
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Comment Yesterday we hosted a conference call about the surging dollar, recent market volatility, the economy, the Fed and the relationship between stocks and bonds. If you missed it: [pageview class=”PDFViewer” url=”https://www.biancoresearch.com/bianco/wp-content/plugins/PDFViewer/plugin.php?id=217″] Audio [audio:https://www.biancoresearch.com/bianco/SubscriberArea/100914.mp3|titles=Conference Call ] [hana-flv-player video=”https://www.biancoresearch.com/bianco/SubscriberArea/100914.flv” width=”600″ height=”495″ description=”” player=”3″ autoload=”false” autoplay=”false” loop=”false” autorewind=”true” splashimage=”https://www.biancoresearch.com/bianco/wp-content/themes/twentyten/images/splash.jpg” /] The Economist – Currencies: Buck to the… Continue reading The Surging Dollar
Comment From David Zervos of Jefferies yesterday: Adding it all up, if you were not completely confused by the contents the SEP [The Fed’s Summary of Economic Projections], the press conference, the statement, the speeches and the minutes then you were not paying attention. These are epic levels of miscommunication. Our beloved doves have turned… Continue reading Is The Fed Contributing To Market Volatility?
Comment Yesterday Bloomberg updated its survey of economists. As the table below shows, economists are again in 100% agreement that interest rates will be substantially higher in 6 months. This marks the 10th month in a row that economists have been at least 95% in agreement that interest rates will be higher. 10 months ago… Continue reading Bond Bearishness
Bloomberg.com – Surging VIX Shakes Bulls as S&P 500 Charts Go Haywire: Options This week’s vortex in equities is a sign of things to come for Donald Selkin, the chief market strategist for National Securities Corp. Three days of Standard & Poor’s 500 Index swings exceeding 1.5 percent have sent the Chicago Board Options Exchange… Continue reading Volatility
Zero Hedge (Blog) – Goldman On Q3 Earnings: “Expect Disappointing Revenue Results And Negative EPS Guidance” To everyone expecting material upside surprise in terms of company earnings, guidance, balance sheet improvement, and/or capital spending, Goldman has one word: don’t. As Goldman’s Amanda Sneider says, expect disappointing revenue results and negative EPS guidance. The reason: weaker… Continue reading Don’t Get Your Hopes Up For This Earnings Season
The Economist – Sovereign defaults: Empty vaults Will the next country to stiff bondholders be Ukraine or Venezuela? A CENTRAL bank that takes a visiting economist down to its vaults to prove that it does indeed have the reserves it claims must be very worried about market sentiment. And so Venezuela’s should be: the price… Continue reading What EM Defaults Next?
The Telegraph (UK) – Ambrose Evans-Pritchard: Eurozone on cusp of triple-dip recession as German exports crumble Germany’s Wise Men slash their growth forecasts for next year and call for fiscal stimulus, warning that the ECB’s ‘QE-lite’ will achieve nothing Germany’s exports are falling at the fastest rate since the global crisis in 2009, raising fears… Continue reading Eurozone
The Economist – The world economy: Weaker than it looks Growth is healthy in America and Britain. But most of the world economy is in trouble FOR the American and British economies it has been a long road out of the woods, but the journey is nearing its end. America’s unemployment rate fell below 6%… Continue reading World GDP
The Financial Times – Martin Wolf: Monetary policy: An unconventional tool The Fed’s quantitative easing raises questions about whether it has worked and its legacy Since September 2008, the balance sheet of the US Federal Reserve has expanded by $3.5tn to close to 25 per cent of US gross domestic product. This month, the Fed… Continue reading Is QE Working?