Zero Hedge (blog) – JPMorgan: $7 Billion In “Fines” In Just The Past Two Years Here is a summary of JPM’s recent exorbitant and seemingly endless fines. Courtesy of the Daily Beast: April 2011 – Amount: $56 million June 2011 – Amount: $153.6 million July 2011 – Amount: $229 Million August 2011 – Amount: $88.3 Million… Continue reading J.P. Morgan’s Fine Tally
MarketWatch – Another cheater wins on Wall Street CEO of SAC Advisors still has ‘edge’ vs. the DOJ The Cohen case is different in that the founder seems to have been enmeshed in the day-to-day strategy of the firm. And why wouldn’t he be? Much of his $9 billion in personal wealth was tied up… Continue reading More Cheaters On Wall Street
CNBC – 6% Treasury yields? May come sooner than you think The Federal Reserve will lose control of interest rates as the “great rotation” out of bonds into equities takes off in full force, according to one market watcher, who sees U.S. 10-year Treasury yields hitting 5-6 percent in the next 18-24 months. “It is… Continue reading Rising Treasury Yields
The Wall Street Journal – Jon Hilsenrath: Summers Hedges His Doubts on Fed’s Bond Buying Potential Bernanke Successor Holds Nuanced Views on Monetary Policy Lawrence Summers, a leading candidate to be the next Federal Reserve chairman, likely wouldn’t beat a rapid retreat from the easy-money policies pursued by Ben Bernanke if he gets the job.… Continue reading Parsing Lawrence Summers’ Speeches
The New York Times – Some Investing Stories Sound Good Until You Analyze Them Making smart money decisions is an incredibly difficult way to behave. So after my post last week about buying a house based on your situation, my jaw dropped when I saw an article in The Wall Street Journal about young home… Continue reading Stories About The “Smart Money”
CNN/Money – The stock market in Wonderland These are strange times for the markets. Curiouser and curiouser one might say. If one were a girl who just stumbled upon a bizarre fantasy world. And why not? It seems like many days on Wall Street are about as absurd as the Mad Hatter’s tea party. Second-quarter… Continue reading The Fear And Greed Index
The Financial Times – Obama has set a poor test for choosing a new Fed chair The choice of a new chair for the US Federal Reserve will be the most important economic policy decision taken anywhere in the world this year. It is alarming, therefore, to hear President Barack Obama set out a job… Continue reading Obama’s Next Federal Reserve President
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Comment Jim was on CNBC yesterday morning discussing the Federal Reserve, earnings and mortgage rates. To view the interview, click on the image above. To view any of our recent interviews click here.
The New York Times – Economic Slowdown Is Expected, but It’s Seen as Fleeting It can only get better from here — or at least that’s what economists hope. New data from the government due out Wednesday is expected to show that the economy came close to stalling during the spring quarter, which ran from… Continue reading Q2 GDP Is Out Tomorrow
The Wall Street Journal – Oil Investors Enjoy the Slopes Like skinning cats, there is more than one way to make money from the oil price. That maxim has particular relevance given this month’s sharp rally in the price of U.S. benchmark West Texas Intermediate crude oil. The front-month WTI crude-oil future has risen 9.6%… Continue reading Understanding Commodity Total Returns
<Click on chart for the larger image> The Financial Times – Investors bet on junk bonds to outperform The harder the fall, the bigger the bounce back. That has been the story for junk bonds so far this summer, as the sector for the lowest quality corporate credit retains its standing as the only area… Continue reading Stocks vs Junk