Nikkei – Merkel Critical Of Japan’s Credit Policy In Meeting With Abe German Chancellor Angela Merkel apparently criticized Japan for its credit-easing policy that led to the yen’s sharp depreciation against major currencies earlier this year, when she met with Japanese Prime Minister Shinzo Abe on Monday. Comment Merkel’s criticism begs the question, “is Abenomics… Continue reading Is Abenomics Working?
The Financial Times – Bond stampede fear spurs race for reform If there is one thing that keeps bond investors awake at night, it is the fear of a stampede for the exit. And for good reason: there could be a pile-up in the doorway, leading to extreme market swings. After the scares of the… Continue reading Bond Hatred Is Alive And Well
<Click on chart for larger image> The Associated Press – European Car Sales Hit 20-Year Low For May European car sales hit their lowest level for the month of May in 20 years as the region’s recession dragged on, the European automakers’ association said Tuesday. Passenger car sale demand for May dropped by 5.9 percent… Continue reading European Auto Sales Disappear
The Wall Street Journal – JPMorgan set to launch asset tracking service JPMorgan Chase will on Monday unveil its attempt to capture a slice of the growing business of managing the billions of dollars worth of cash and securities that funds and companies will need to stump up to back their derivatives trades. The US… Continue reading Collateral Tracking
Institutional Investor – Ian Bremmer & Nouriel Roubini: The New Abnormal For the New Normal. Five years after the financial crisis, we’ve entered a period of increasing global uncertainty and instability that’s almost certain to trigger a new crisis. CNBC – Roubini: Fed Exit Strategy Will Be ‘Treacherous’ As the Federal Reserve’s Open Market Committee… Continue reading The New Abnormal
The Financial Times – Robin Harding: Fed likely to signal tapering move When the Fed began QE3 last autumn it was working on the assumption that a lot of people who had given up looking for jobs would return once the economy improved. That may still happen – there were some signs of it in… Continue reading Taper Tantrum
The Street – Doug Kass Bids Twitter Trading World Farewell Over the years, micro-blogging site Twitter has quickly gained popularity among the trading set. But today the Twitter trading world got smaller. Popular hedge fund manager and theStreet.com personality, Doug Kass, said he has had it with all the hate being generated from the platform… Continue reading Goodbye Doug Kass
Bloomberg.com – Obama Says Bernanke Has Been at Fed ‘Longer Than He Wanted’ resident Barack Obama said Federal Reserve Chairman Ben S. Bernanke has stayed in his post “longer than he wanted,” one of the clearest signals the central bank chief will leave when his current term expires next year. “Ben Bernanke’s done an outstanding… Continue reading Is Bernanke Leaving?
The Wall Street Journal – Former Trader Is Charged in U.K. Libor Probe British prosecutors have filed criminal fraud charges against former UBS AG and Citigroup Inc. C +0.28%trader Tom Hayes for allegedly trying to manipulate benchmark interest rates, in the first effort by British authorities to seek criminal penalties against someone they allege was… Continue reading They Got The Guy, Now LIBOR Is Fixed!
Bloomberg.com – Abe-Bernanke 1-2 Punch Pummeling World’s Top Carry Trade Mexico’s peso is losing its status as the best carry-trade currency for Japanese investors as the Bank of Japan signals reluctance to boost stimulus while the Federal Reserve weighs curbing its asset purchases. Investors who borrowed funds in Japan and then bought the peso to… Continue reading Carry Trades Under Pressure
Comment Above is the trailer for the big budget movie The Wolf of Wall Street starring Leonardo DiCaprio, Jonah Hill and Matthew McConaughey. It is due in theaters this November. It is based on the book by the same name about Jordan Belfort, the real-life founder of high-flying 1980s brokerage firm Stratton Oakmont that crashed… Continue reading The Wolf Of Wall Street