Bloomberg – Michael Lewis: A Bazillionaire’s Guide to Stress Relief I’d like to start by making a confession: It’s never been easy being me. Managing billions of dollars of other people’s money, and countless millions of my own, has been highly stressful. There was a time when I thought my anxiety, not to mention the… Continue reading The Tough Life Of A Master Of The Universe
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<Click on chart for larger image> MoneyBeat (WSJ Blog) – A Guide To Gauging The Impact of the ECB’s Negative Deposit Rate Wednesday marked the first day that the ECB charged banks for keeping overnight deposits with it. The move is designed to encourage bank lending, and help boost the euro zone’s still fragile economic… Continue reading The ECB’s Negative Deposit Rate
<Click on chart for larger image> PIMCO – Paul McCulley: Just Give Me a Framework I have been writing about this issue for, literally, ten years.1 There are many ways to come at the analysis – theoretical, empirical and institutional. And all three disciplines offer one robust conclusion: The “neutral” real policy rate is not… Continue reading The Taylor Rule
The Wall Street Journal – Economists React: China’s Bank Loans Surge, Total Credit Growth Doesn’t China’s bank lending surged in May, but total credit growth didn’t accelerate – a sign that Beijing’s crackdown on fast-growing shadow-banking sector is succeeding in choking off some unofficial financing activities. The People’s Bank of China said Thursday that new… Continue reading Bank Loans In China Surge
<Click on chart for larger image> The Wall Street Journal – Hedge Funds Get Stung by Slow Markets Some of the biggest investors on Wall Street are losing money with wrong-way bets in markets around the globe, a surprising black eye amid a rise in stock and bond prices. Hedge-fund managers including Paul Tudor Jones,… Continue reading Hedge Fund Performance
<Click on chart for larger image> Bespoke Invest – Bullish Sentiment Spikes to Highest Level of 2014 Well, they were going to have to cave at some point. Over the last few weeks, we have been noting the fact that even though the S&P 500 has been hitting record high after record high this month,… Continue reading Bullish Sentiment
The Financial Times – US equity bulls rest case on low inflation Judging by the latest research tidings coming out of Wall Street, the equity bull market has a lot further to run. Maximum bullish is pretty much the default position of most analysts and the community of money managers whose benchmark, the S&P 500,… Continue reading Low Inflation And Stocks
The Financial Times – BoJ resists pressure for additional easing The Bank of Japan has kept its policy settings on hold, while noting a broad drop-off in demand in the wake of the consumption-tax increase pushed through in April. The latest no-change comes amid growing doubts that the BoJ can hit its 2 per cent… Continue reading Japan
AEI- Ideas.org – A report from the Bakken oil fields, where the jobless rate is 0.9% and Walmart is paying 2.4 times the minimum wage I took this photo today at the Walmart in Williston, North Dakota, where the economy is booming thanks to the gusher of shale oil being pumped from the prolific Bakken… Continue reading Minimum Wage Near The Bakken Oil Fields
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<Click on chart for larger image> The Telegraph – Japan to keep printing money for years to come, so learn to enjoy it There are no one-way bets in global finance, but Japan’s stock market comes close. The authorities are about to funnel large sums into Japanese stocks openly and deliberately under the next phase… Continue reading Abenomics