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Are Hedge Funds “Massively Short” And Blaming Bernanke?

May 14, 2013

Brad Delong (Blog) – Moby Ben, or, The Washington Super-Whale: Hedge Fundies, the Federal Reserve, and Bernanke-Hatred” From my perspective, of course, the hedge fundies’ analogy between the London Whale and the Washington Super-Whale is all wrong–the hedge fundies are thinking partial-equilibrium when they should be thinking general equilibrium. CDX IG 9 has a well-defined… Continue reading Are Hedge Funds “Massively Short” And Blaming Bernanke?

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Why the Participation Rate Will Stay Low For Years

May 14, 2013

Bloomberg.com – U.S. Labor Participation May Be Low for Years: Fed Study Workers who have dropped out of the labor force may take a few years to begin searching for work, Federal Reserve economists say in a paper offering insights into the health of a labor market that’s key to central bank policy. “In the… Continue reading Why the Participation Rate Will Stay Low For Years

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Bond Market Mood Swings

May 14, 2013

The Wall Street Journal – Beware Bond-Market Mood Swings From hero to zero in just 10 days: May’s selloff has seen year-to-date gains for holders of U.S. Treasurys, German bunds and U.K. gilts wiped out and turned to losses. Some are asking if this is a definitive turning point for the bond market after its… Continue reading Bond Market Mood Swings

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Bullish Through Summer

May 14, 2013

Business Insider – BofA: 92% Of Investors Are Expecting A Great Summer, And ‘No One Is Worried’ About Rising Rates The BofA Merrill Lynch rates and currencies team conducts a survey of market views from 72 global fixed income fund managers every month.The latest survey results are out, and BofA clients sound decidedly optimistic about… Continue reading Bullish Through Summer

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100 Yen Is Bad News

May 14, 2013

<Click on chart for larger image> Bloomberg.com – William Pesek:  Three Reasons Why 100 Yen Is Bad News for World The smile on Kazuo Hirai’s face shows why the yen’s drop below 100-to-the-dollar is as much a curse for Japan as a blessing.  The Sony Corp. chief executive officer is beaming because his company has… Continue reading 100 Yen Is Bad News

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Detroit Is Insolvent

May 14, 2013

CNN/Money – City of Detroit is financially ‘insolvent’ The Detroit city government is weeks away from running out of the cash it needs to operate, according to an initial report from the emergency manager overseeing its finances.  The report from Kevyn Orr, the bankruptcy attorney appointed by the state in March, lays out a bleak… Continue reading Detroit Is Insolvent

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Sam Zell Is Bearish

May 14, 2013

CNN Money – Sam Zell says sell Legendary investor says stock market is in state of “euphoria,” while economy is still in the dumps. Sam Zell on Thursday at the SALT hedge fund conference in Las Vegas said stocks are due for a fall. The legendary real estate investor thinks the market is out of… Continue reading Sam Zell Is Bearish

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Has The U.S. Lost Interest In Driving?

May 14, 2013

<Click on chart for larger image> The New York Times – Young Americans Lead Trend to Less Driving For six decades, Americans have tended to drive more every year. But in the middle of the last decade, the number of miles driven — both over all and per capita — began to drop, notes a… Continue reading Has The U.S. Lost Interest In Driving?

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Gloom In Europe

May 14, 2013

The New York Times – Poll Shows European Union Loses Favor in Europe Europeans have never been wild about the European Union. With the region sapped by the euro crisis, confidence in the institution and the benefits it was supposed to provide is flagging faster and further than ever before, according to an influential opinion… Continue reading Gloom In Europe

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Plosser Wants The Exit Strategy To Start Now

May 14, 2013

Bloomberg.com – Fed’s Plosser Says Slowing Inflation No Concern for Policy Federal Reserve Bank of Philadelphia President Charles Plosser said a slowing in U.S. inflation to the lowest rate in more than three years doesn’t warrant a Fed policy response.  “Should inflation expectations begin to fall, we might need to take action to defend our… Continue reading Plosser Wants The Exit Strategy To Start Now

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Cartoons

May 14, 2013

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Hilsenrath Talks Exit Strategy

May 13, 2013

The Wall Street Journal – Jon Hilsenrath:  Fed Maps Exit From Stimulus Timing of Wind-Down Is Uncertain, but Focus Is on Managing Unpredictable Market Expectations Federal Reserve officials have mapped out a strategy for winding down an unprecedented $85 billion-a-month bond-buying program meant to spur the economy—an effort to preserve flexibility and manage highly unpredictable… Continue reading Hilsenrath Talks Exit Strategy