The Wall Street Journal – Tally of U.S. Banks Sinks to Record Low Small Lenders Are Having the Hardest Time With New Rules, Weak Economy and Low Interest RatesThe number of banking institutions in the U.S. has dwindled to its lowest level since at least the Great Depression, as a sluggish economy, stubbornly low interest… Continue reading Small Banks Disappearing
None Today
When Will The Fed Taper & What Happens Once The Do? A transcript of the November 26, 2013 conference call. Audio Link of Conference Call Handout (also shown below) [hana-flv-player video=”https://www.biancoresearch.com/bianco/SubscriberArea/112613.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” /] <Click above to view webcast> [pageview class=”PDFViewer” url=”https://www.biancoresearch.com/bianco/wp-content/plugins/PDFViewer/plugin.php?id=161″] Audio [audio:https://www.biancoresearch.com/bianco/SubscriberArea/112613.mp3|titles=Conference Call ]
<Click on chart for larger image> Bloomberg.com – Japan Price Gauge Rises Most Since ’98 in Boost to Abe: Economy A gauge of Japan’s prices rose the most in 15 years as higher energy costs fueled broader inflation pressures, in a sign Prime Minister Shinzo Abe is making progress in stamping out deflation. Prices excluding… Continue reading Is Abenomics Working? Inflation Update
<Click on chart for larger image> Zero Hedge (Blog) – The Magic Of Forward P/E Multiples In One Chart As readers may or may not recall, one of the main arguments the bulls had in early 2008, a month after the recession had already begun (according to the NBER’s retrospective conclusion over a year later)… Continue reading Equity Valuation
The Wall Street Journal – Fed Eyes Financial System’s Weak Link Risks posed by short-term funding have long been a concern at the Fed, and a string of recent public statements suggests the central bank may soon take aim at the ubiquitous practice. Yet scaling back short-term funding isn’t easy, given how commonplace such financing… Continue reading Risks In The Repo Market
<Click on chart for larger image> Bloomberg.com – Citigroup to BofA Spurn Treasuries for Cash on Taper Risk Never before have America’s banks been so wary of risking their cash deposits on U.S. government debt. After holdings of U.S. debt surged to a record $1.89 trillion in 2012, lenders from Citigroup (C) Inc. to Bank… Continue reading More Bond Market Hate
The Wall Street Journal – David Wessel: Why Does Economy Grow More Under Democratic Presidents? The U.S. economy has performed better since World War II when the president is a Democrat rather than a Republican, two prominent Princeton University economists conclude. The reasons, they say, involve more luck than successful policies. Over the past 64… Continue reading Is Economic Growth Partisan?
MoneyBeat (WSJ Blog) – E.S. Browning: Yellen Keeps Stock-Market Gloom at Bay But based on incoming Chairwoman Janet Yellen’s soothing comments at her confirmation hearings, many investors think she will wait longer to make cuts, and go slower, than current Chairman Ben Bernanke would. Ms. Yellen takes office Feb. 1, pending Senate confirmation. If stimulus… Continue reading Timing The Taper
The Guardian (UK) – Nobel prize economist warns of US stock market bubble Sharp rises in equity and property prices could lead to a dangerous financial bubble Robert Shiller tells Der Spiegel One of the winners of this year’s Nobel prize in economics has warned that sharp rises in equity and property prices could lead… Continue reading More Bubble Warnings
<Click on chart for larger image> MoneyBeat (WSJ Blog) – ‘Tis the Season to Be Bullish December has historically been the best month of the year for U.S. stocks. Over the past 30 years, the S&P 500 has averaged a 1.9% gain in the final month of the year, and has been positive 80% of… Continue reading Stock Seasonals
The Wall Street Journal – EU Threatens Action Against Big Three Ratings Firms Watchdog Identifies Problems in Confidentiality, Timing of Ratings Actions The European Union’s markets watchdog has warned that it may take “enforcement action” against the big three credit ratings firms after it found “deficiencies” in the way that they rank sovereign bonds. The… Continue reading EU Doesn’t Want To Be Downgraded Again