Newsclips
Talking Markets
July 26, 2013
Comment Jim Bianco was on Bloomberg TV yesterday discussing SAC Capital and earnings. To view interview, click on the image above. To view any of our recent interviews, click here.
Comment Jim Bianco was on Bloomberg TV yesterday discussing SAC Capital and earnings. To view interview, click on the image above. To view any of our recent interviews, click here.
Zero Hedge – Cyprus Deposits Plunge At Fastest Rate In History With capital controls like these who needs bank runs. Perhaps the most underreported news to come out of Europe this morning had nothing to do with PMI or employment or credit creation in the Eurozone. It had to do with Cyprus – the insolvent… Continue reading European Deposits
The Wall Street Journal – SAC Hit With Criminal Case U.S. Alleges Firm Was ‘Magnet for Market Cheaters’; Hedge Fund Denies Wrongdoing U.S. prosecutors accused SAC Capital Advisors LP, one of the country’s largest hedge-fund firms, of acting as a criminal enterprise where executives including founder Steven A. Cohen encouraged insider trading on a “scale… Continue reading Is SAC “Too Big To Fail?”
Bloomberg Businessweek – PulteGroup, Horton Tumble on Lower-Than-Expected Home Orders PulteGroup Inc. and D.R. Horton Inc., the largest U.S. homebuilders, tumbled after reporting lower-than-expected orders, adding to concerns that higher mortgage rates will hamper the nation’s housing recovery. … Rising mortgage rates contributed to increased cancellations and a dropoff in traffic in June, according to… Continue reading Maybe Higher Mortgage Rates Only Kill Housing (Rather Than Speed Up Activity)
Comment Our sense is the market is looking past the talk of Larry Summers as a real candidate. Should he get the nod, it would be a negative shock for the markets. The Financial Times – Robin Harding: Summers dismissed QE effectiveness Mr Summers gave a highly optimistic outlook for the US economy – even… Continue reading Pushing Back On The Idea Of Larry Summers For FOMC Chair
The Wall Street Journal – Some Senate Democrats to Obama: Pick Yellen for Fed Chief Letter Calls on Obama to Nominate First Female for Chairman’s Seat Senate Democrats are circulating a letter urging President Barack Obama to appoint Janet Yellen, the Federal Reserve Board of Governors vice chairman, to succeed Ben Bernanke as chairman of… Continue reading Now For Some Yellen Love
The Wall Street Journal- Jon Hilsenrath: Up for Debate at Fed: A Sharper Easy-Money Message Lower Jobless Rate, New Inflation Signal Among Options for Guiding Market Expectations There are other rhetorical steps the Fed might take in its forward guidance. One would be to match its publicly set upper bound for inflation with a new… Continue reading Will The Federal Reserve Change The FOMC Statement Next Week?
<Click on chart for larger image> Bloomberg.com – Spanish Unemployment Falls as Rajoy Sees Growth Return Spain’s unemployment fell for the first time in two years in the second quarter, bolstering Prime Minister Mariano Rajoy’s forecast of an economic recovery. The number of jobless fell as the rate declined to 26.3 percent of the workforce… Continue reading Unemployment In Spain
The Wall Street Journal – Toys for Tight Schedules Why Toy Makers Are Creating Shorter-Playing Toys—and One Monopoly Version Even Jettisoned the Jail Hasbro’s new Monopoly Empire ($19.99), in which players compete to amass the most big-name brands, such as Coca-Cola, Xbox and McDonald’s, can be completed in as little as 30 minutes, compared with… Continue reading Updating Monopoly For Today’s Version Of Capitalism
The Wall Street Journal – Bonds Could Get Swept Away by the Flow Move Out of Bonds Could Intensify as Investors Hit Reset Button on Their Portfolios Investors have noticed, pulling a net $78 billion from bond mutual funds in the seven weeks ended July 17, according to Investment Company Institute estimates. There could be… Continue reading Bond Fund Flows
Reuters – Analysis: How much is Fed aid to U.S. corporate profits worth? The Fed’s effect on corporate earnings is difficult to quantify. Van Batenburg estimates that corporate savings on interest expense after rates fell to historic lows has accounted for about 47 percent of S&P 500 earnings growth since 2009. At the end of… Continue reading How Does QE Affect S&P 500 Profits?
The Wall Street Journal – Japanese Prices Rise, Signaling Rebound First Sign of Inflation in More Than a Year Bolsters Abe’s Policies; Sustained Recovery Isn’t Certain Japanese consumer prices rose in June for the first time in more than a year, and by the largest amount in nearly five years, the latest sign of progress… Continue reading Japanese Inflation