You Tube – Grant Williams: Do The Math Published on May 24, 2013 My recent presentation to the 66th Annual CFA Conference in Singapore in which I discuss the disconnect between financial markets and mathematical reality Comment This presentation is 48 minutes long but it is very good and comes highly recommended.
<Click on graphic for larger image> h/t Zero Hedge
[hana-flv-player video=”https://www.biancoresearch.com/bianco/SubscriberArea/052313.flv” width=”600″ height=”495″ description=”” player=”3″ autoload=”false” autoplay=”false” loop=”false” autorewind=”true” splashimage=”https://www.biancoresearch.com/bianco/wp-content/themes/twentyten/images/splash.jpg” /] The Wall Street Journal – Jon Hilsenrath: In Bid for Clarity, Fed Delivers Opacity As the Fed has tried to explain its thinking, investors have sometimes been caught scratching their heads. Wednesday’s stock-market moves put that dynamic into sharp relief. Stock prices soared… Continue reading Discussing The Federal Reserve
From Wednesday’s testimony: SEN. COATS: And lastly, your concern about the low amount of interest return and the risk-taking or the reaching for yield — this creating another potential bubble? There’s a big surge in the – in the market here that seems to be not enforced by underlying fundamentals, but I’d like your take… Continue reading Ben Bernanke, The Nation’s Chief Investment Strategist, Talks Valuation
[pageview class=”PDFViewer” url=”https://www.biancoresearch.com/bianco/wp-content/plugins/PDFViewer/plugin.php?id=128″] Bloomberg Businessweek – Primary Dealers Saw Fed’s Confusing Strategy Reducing QE Impact The 21 primary dealers that trade securities directly with the Federal Reserve Bank of New York, said that confusion about the central bank’s intentions for its bond-buying program is reducing the policy’s effectiveness. The dealers’ views were shared with the… Continue reading More On The Primary Dealers
Zero Hedge – Richard Koo Warns Of “Beginning Of The End” For Japanese Economy Mr. Kuroda’s psychological tactic of repeating a lie often enough that it becomes the truth has succeeded brilliantly. The problem is that it works on lenders as well as on borrowers. Moreover, borrowers are agents in the real economy and need… Continue reading Japan’s Great Experiment Is Not Going To Work
Bloomberg.com – U.S. 10-Year Yield Tops 2% as Bernanke Says Fed May Taper Buys Trading volume surged to $660 billion, the highest level in data going back to 2004, according to ICAP Plc, the largest inter-dealer broker of U.S. government debt. The previous high was $622 billion in August 2007. Average daily volume for this… Continue reading Treasury Record Volume
The Economist – The euro crisis: The sleepwalkers In the euro zone, desperately in need of a boost, no news is bad news The euro-zone economy has just endured a sixth successive quarter of shrinking GDP. The malaise is spreading to core countries including Finland and the Netherlands, which both contracted in the first quarter.… Continue reading The Economist Sees Nothing But Pain For Europe
<Click on chart for larger image> <Click on chart for larger image> <Click on chart for larger image> Bloomberg.com – Overdue Student Loans Reach Record as U.S. Graduates Seek Jobs Overdue student loans reached an all-time high as students struggle to find work after college, according to a government report renewing alarms about the rising… Continue reading Student Loans And Youth Employment
The Telegraph (UK) – As the market panic demonstrates, central banks are stuck on a treadmill of money printing Oh what a tangled web central bankers weave when they practice to deceive… Last night’s panic in Tokyo, where the Nikkei dropped a stomach churning 7 per cent, demonstrates just how difficult it’s going to be… Continue reading Are Central Banks Stuck?
The Economist – Buttonwood: Apocalypse, not yet Bond yields are very low, but Japan’s example shows they may stay low IS THERE a bond bubble and is it going to burst soon? The Spectator, a British political weekly, ran a cover story citing the existence of a bubble back in September 2011. Yields are even… Continue reading Bond Yields
CNBC – Robert Frank: Why Millionaire Investors Are Holding On to Cash Today’s wealthy investors seem to have split personalities. Part of them is brimming with confidence and optimism. Survey after survey shows that they are back to pre-crisis boom years when it comes to their outlook for their own finances, their investments and their… Continue reading Millionaires Are Not Investing