DealBook (NYT Blog) – Andrew Ross Sorkin: Hedge Fund Spars With a Nameless Blogger The case by David Einhorn’s firm against Seeking Alpha could be a watershed for confidential information being posted anonymously. The case could be a watershed for both the reporting of financial news using anonymous sources, and perhaps more important, the increasing… Continue reading Digital Media
The Wall Street Journal – Edward P. Lazear: The Hidden Rot in the Jobs Numbers Hours worked are declining, resulting in the equivalent of a net loss of 100,000 jobs since September. Most commentators viewed the February jobs report released on March 7 as good news, indicating that the labor market is on a favorable… Continue reading Interpreting The Jobs Data
Comment Jim Bianco was on CNBC Friday discussing the frequency of bubbles in the marketplace. To view the interview, click on the image above. To view any of our recent interviews, click here.
<Click on chart for larger image> Comment The blue bars in the chart above show a rolling 12-month sum of domestic equity mutual fund flows. The source is the Investment Company Institute (ICI), the mutual fund industry’s trade group which includes well over 95% of all domestic mutual funds. The red line shows the monthly… Continue reading The Public Is Missing The Rally
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<Click on chart for larger image> Reuters – China doubles yuan trading band, seen as sign of confidence China’s central bank loosened its grip on the yuan on Saturday by doubling the daily trading range for the currency, adding teeth to a promise it would allow market forces to play a greater role in the… Continue reading The Yuan Becomes Less Manipulated
The Wall Street Journal – Federal Reserve Officials Weighing How to Retool Rate Guidance Federal Reserve officials are discussing ways to revise their guidance about the likely future path of interest rates, but it takes some detective work to pin down how they might do it. The Fed has said in its recent policy statements… Continue reading Forward Guidance
<Click on chart for larger image> The Wall Street Journal – Business Finds New Reason for Optimism Worries over the upheaval in Crimea are rising, along with fears of an economic slowdown in China. But another drag on optimism—business uncertainty—is heading the other way. The reason is twofold: Years of gyrating policy in Washington are… Continue reading The Uncertainty Index
<Click on chart for larger image> Resource Investor – Big gold futures buying pushing market higher From a pure fundamental supply-and-demand standpoint, gold’s crushing losses last year were solely attributable to record gold-ETF selling by stock traders. The World Gold Council’s comprehensive 2013 data showed that global gold-ETF outflows from epic share selling was actually… Continue reading Gold
The Wall Street Journal – Senate Lawmakers Unveil Bill to Eliminate Fannie, Freddie Senate lawmakers released their first draft of a bipartisan bill Sunday spelling out their proposal, previously announced last week, to eliminate Fannie Mae and Freddie Mac. The legislation replaces the mortgage-finance giants with a new system in which the government would continue… Continue reading The Bill To Unwind Fannie & Freddie
The Telegraph (UK) – Ambrose Evans-Pritchard: Fire-sale of US Treasuries is a warning of acute stress across the world Somebody is a selling a fistful of US Treasuries. It could be Russia, or China, Turkey, South Africa, or Indonesia, or all frantically selling bonds at the same time for different reasons. We don’t yet know.… Continue reading Russian Sanctions Affecting Money Flows