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Is Hyperinflation A Real Concern For Japan?

July 25, 2013

MoneyBeat (WSJ Blog) – Michael Casey:  How Japan Could Go from Deflation to Hyperinflation in a Heartbeat “Abenomics,” Japanese Prime Minister Shinzo Abe’s much-ballyhooed program of economic stimulus and structural reform is designed to attack the longstanding problem of deflation. Yet various international economists now say the biggest risk for Japan comes from its antithesis:… Continue reading Is Hyperinflation A Real Concern For Japan?

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The One Year Anniversary Of The All-Time Yield Low

July 25, 2013

Comment One year ago today (July 25, 2012) the 10-year yield closed at 1.43%, its all-time low.  The previous record was 1.54% on April 5, 1946.  These are shown in red in the chart below. To determine this we use the Federal Reserve’s Treasury Constant Maturity series. It offers the longest daily history we have… Continue reading The One Year Anniversary Of The All-Time Yield Low

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Are We In A Recession?

July 25, 2013

Real Time Economics (WSJ Blog) – Majority of Americans Say U.S. Still in Recession The economy may be sputtering along. But it hasn’t been in recession for more than four years. More than half of Americans think it still is. A majority of people — 54% — in a new McClatchy-Marist poll think the country… Continue reading Are We In A Recession?

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The Impact Of Rating Agencies On Credit Indices

July 25, 2013

The Wall Street Journal – Financial System Is Still Overrated Will no one rid us of these turbulent ratings? Years after misjudged ratings on mortgage-backed securities helped cause a financial crash, credit ratings firms are still embedded in the system’s plumbing. Regulators should be trying harder to remove them from their rule books. Using ratings… Continue reading The Impact Of Rating Agencies On Credit Indices

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Newsclips

Investing In Detroit

July 25, 2013

Business Insider – This Is For Everyone Who’s Thinking Of Buying One Of Those $500 Homes In Detroit We recently reported that in theory, you can buy a bunch of houses in Detroit for $500 or less. We’ve already seen people talking about scooping some up, just as a speculative investment. But it’s a bit… Continue reading Investing In Detroit

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LIBOR

July 25, 2013

The Wall Street Journal – Richard Grossman:  The Best Way to Reform Libor: Scrap It The British government should announce that, six months from today, Libor will cease to exist. The British Bankers’ Association, which technically owns the interest-rate index, has been so wounded by the scandal that it has been willing to follow the… Continue reading LIBOR

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Newsclips

The Great Rotation?

July 25, 2013

The Wall Street Journal – Bond Investors Turn to Cash Investors are cashing out of bonds but remain hesitant to plunge into stocks, preferring instead to buy money-market mutual funds despite their low returns. The surprise move highlights persistent investor anxiety with equities even as stock indexes reach new highs. Investors withdrew an estimated $43… Continue reading The Great Rotation?

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Europeans Become More Optimistic

July 25, 2013

The Wall Street Journal – Rising German, Dutch Confidence a Hopeful Sign for Euro-Zone Economy Businesses in Germany and the Netherlands became more optimistic about their prospects in July, as did Italian consumers, another indication that the euro zone is emerging from its longest postwar economic contraction. But persistently weak loan growth suggests any recovery… Continue reading Europeans Become More Optimistic

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Newsclips

Cartoons

July 25, 2013

Charts of the Week

Charts of the Week

July 24, 2013

Charts of the Week Topics Covered This Week Include: An Earnings Update This Is How Apple Beat Earnings More On Earnings Too Much Love For Stocks? Has The “Great Rotation”  Finally Begun? Comparing Apple And Exxon Tail Risk And The Market Bears Tail Risk And The Market Bears – 2 Stock Market Seasonals An Updated… Continue reading Charts of the Week

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Newsclips

This Is How Apple Beat Expectations

July 24, 2013

The Wall Street Journal – Demand Woes Bite Apple Strong iPhone Sales Fail to Reverse Decline in Profit, Amid Industry Slowdown. Article Apple Inc. proved Tuesday there is still demand for its venerable iPhone in the face of stiff competition, though it is running into trouble convincing consumers to buy its other gadgets. The New… Continue reading This Is How Apple Beat Expectations

Newsclips

Another Earnings Update

July 24, 2013

Comment Through yesterday 148 companies have reported.  66% have beat expectations.  The table below shows the beat rate results since the end of the Great Recession.  Over this range, after 150 companies have reported, 73% of companies have beat.  So the current quarter’s beat rate of 66% is below average. Since the end of the… Continue reading Another Earnings Update