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Major Revamp Coming To The Producer Price Index

October 30, 2013

Real Time Economics (WSJ Blog) – Labor Department Broadens Producer Price Index to Include Services The Labor Department is revamping its system for measuring wholesale prices, the latest overhaul by a U.S. statistical agency to capture a broader range of economic activity. The government’s current producer price index — measuring the prices companies pay for… Continue reading Major Revamp Coming To The Producer Price Index

Newsclips

More Trouble For JP Morgan

October 30, 2013

The Wall Street Journal – Troubles for J.P. Morgan in Its Effort to Settle A multibillion-dollar settlement between J.P. Morgan Chase & Co. and the U.S. over soured mortgage bonds is at risk of collapsing because of disagreements related to a criminal probe of the bank and its effort to get penalties reimbursed by a… Continue reading More Trouble For JP Morgan

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Newsclips

Cartoons

October 30, 2013

Charts of the Week

Conference Call Presentation/Charts of the Week

October 29, 2013

Conference Call Presentation/Charts of the Week Audio [audio:https://www.biancoresearch.com/bianco/SubscriberArea/103013.mp3|titles=Conference Call ] Topics Covered This Week Include: Earnings Beat Rate Earnings Expectations Revenue (Sales) Expectations Company Guidance Index S&P 500 Earnings Expectations Small Capitalization Stock Valuation The Economy Since QE3 Can The Fed Agree?  Does Jeremy Stein’s Opinion Matter? Tapering Is Tightening?  What Tightening? What To Expect… Continue reading Conference Call Presentation/Charts of the Week

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Newsclips

QE3 & Bubbles

October 29, 2013

<Click on chart for larger image> MarketWatch.com – The mother of all Fed surprises By not addressing the pace of stock-market gains, falling inflation expectations, and the growing disconnect between asset markets and the economy, the Fed is risking the embarrassment of potentially causing another bubble. In my last writing, I made it a point… Continue reading QE3 & Bubbles

Newsclips

Central Banks Lose Interest In Gold

October 29, 2013

The Wall Street Journal – Gold Fades From Investment Picture The investor gold rush that propelled the precious metal to a dozen years of annual price gains is on the verge of ending with a whimper. Russia’s central bank in September sold gold for the first time in a year, according to the latest data… Continue reading Central Banks Lose Interest In Gold

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Newsclips

Everyone Is Bullish

October 29, 2013

MarketWatch.com – 5 signs the market bulls are wrong Everyone is cheering. Everyone is bullish. Standard & Poor’s 500-stock index just hit a new high. The Russell 2000 index of small cap stocks, which is typically even more boom-and-bust, has soared to new records. The government is back open, the Federal Reserve’s printing presses are… Continue reading Everyone Is Bullish

Newsclips

China

October 29, 2013

The Financial Times – China central bank moves to ease cash crunch fears China’s central bank has allayed fears of a cash crunch by injecting money in the financial system for the first time in two weeks, but it has also steered interest rates to a higher level in a signal of mild monetary tightening.… Continue reading China

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Newsclips

Efficient Markets

October 29, 2013

Prudent Bear – Funny Money Makes Markets Less Efficient The correlation between lax monetary policy and bubble creation is far too obvious to ignore. Excess monetary creation pushes interest rates down toward or below the level of inflation, rewarding those who have access to leverage. This not only pushes up the prices of all assets,… Continue reading Efficient Markets

Newsclips

Margin Debt

October 29, 2013

<Click on chart for larger image> The Big Picture – NYSE Margin Debt at Record High “NYSE margin debt stood at a new record high of $401.2b and exceeded the prior high from April of $384.4b. This confirms the new S&P 500 highs and negates the bearish 2013 set-up that was similar to the bearish… Continue reading Margin Debt

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Newsclips

Excess Liquidity

October 29, 2013

Zero Hedge – JPM Sees “Most Extreme Ever Excess Liquidity” Bubble After $3 Trillion “Created” In First 9 Months Of 2013 Excess money supply is currently at record high positive territory. The residual of the regression turned positive in May 2012 and has risen steadily since then. This is both because of real money supply… Continue reading Excess Liquidity

Newsclips

October Payrolls

October 29, 2013

The Wall Street Journal – Brace Yourself, October Payrolls Are Coming To prepare investors for a potentially sharp — though temporary — pullback in October jobs, Stone & McCarthy warns that nonfarm payrolls could come in as low as 70,000.The company estimates 190,000 new jobs were added without the government shutdown, minus the 120,000 lost… Continue reading October Payrolls