Newsclips
Obama’s Approval Rating During The Shutdown
October 2, 2013
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<Click on chart for larger image> Comment As the chart above shows, auto sales declined on a yearly basis for the first time in 29 months (May 2011). If this is the start of a trend, it is worrisome. The New York Times – Auto Sales Fell in September, Hurt by Early Labor Day Sales… Continue reading Auto Sales Fall
Pimco – Bill Gross: Survival of the Fittest? Investment Implications In betting on a lower policy rate than now priced into markets, a bond investor should expect a certain pastoral quietude in future years, much like that grazing cow, I suppose. Not that exciting, but what the hay, it’s an existence! Portfolios should emphasize front… Continue reading Bill Gross Speaks
The Wall Street Journal – Weak Trading, Mortgage Slump, Legal Costs to Cut Results at Banks “I haven’t seen morale this bad since the Titanic,” said Richard Stein, a senior recruiter at Caldwell Partners who specializes in financial services. The effects of slowing mortgage demand, weak trading revenue and higher legal costs are being felt… Continue reading Had Bad Are Q3 U.S. Bank Earnings?
Bloomberg Businessweek – Debt-Ceiling Brink Has Speed Traders Drooling So the government’s shut down, and who knows how long it’ll be until it reopens? The real calamity is still a couple of weeks away: On Oct. 17, the Treasury Department will exhaust its borrowing limit. Unless Congress votes to raise the debt ceiling, the U.S.… Continue reading High Speed Traders Looking For Some Action
h/t Merk Funds
Kay Bailey Hutchison, former Senator of Texas; MJ Lee, Politico reporter; and CNBC’s John Harwood and Eamon Javers discuss if a continued market sell-off will speed up a deal in Washington. Comment The takeaway from the conversation above is the markets are the key to getting a deal done. They need to react to a… Continue reading Are The Markets Driving The Shutdown Debate?
The New York Times – How a Debt-Ceiling Crisis Could Become a Financial Crisis Come mid-October, the United States will have only $30 billion of cash on hand. On any given day, its net payments can reach as high as $60 billion. That means that unless Congress raises the debt ceiling, allowing the Treasury to… Continue reading Prioritizing Debt Service Payments (Or Why The Debt Ceiling Breach Does Not Mean Default)
Comment Jim Bianco was on CNN last night talking about the shutdown. To view the interview the click on the image above. To view any of our recent interviews click here. Jim’s views on the shutdown was detailed yesterday. Bloomberg.com – Shutdown Would Cost U.S. Economy $300 Million a Day, IHS Says A partial shutdown… Continue reading What Does The Shutdown Mean For The Economy?
Real Time Economics (WSJ Blog) – Companies Holding Lots More Cash 21.4%: Share of corporate cash holdings held in, well, cash. U.S. nonfinancial companies has $1.8 trillion in cash on their books at the end of the second quarter, according to the Federal Reserve’s quarterly “flow of funds” report (now known formally as the “Financial… Continue reading An Updated Look At The Myth Of Cash On The Sidelines
Reuters – U.S. third quarter earnings warning ratio is 2nd worst since 2001 U.S. companies are warning about third-quarter earnings at a rate lower than last quarter but still at the second highest level since 2001, leaving estimates well below what they were just three months ago. Companies issuing negative outlooks for the quarter outnumber… Continue reading Q3 Earnings Are Coming!
The Wall Street Journal – Edward P. Lazear: No Tapering Soon if the Fed Looks at Labor A 6.5% unemployment target isn’t the only concern. The employment rate matters too, and it’s still looking anemic. The Federal Reserve’s Sept. 18 decision to stay the course on its asset purchases surprised and confused many market participants,… Continue reading The Labor Market