CNBC – FED SURVEY: April 30, 2013 These survey results represent the opinions 46 of the nation’s top money managers, investment strategists, and professional economists. They responded to CNBC’s invitation to participate in our online survey. Their responses were collected on April 25-26, 2013. Participants were not required to answer every question.Results are also shown… Continue reading What Do Federal Reserve Surveys Tell Us?
Reuters.com – No end in sight for Fed stimulus as inflation sags Despite the economy’s softer tone, a wait-and-see attitude seems the most likely approach for now. The Fed is expected to nod to the economy’s disappointing performance when it announces its decision at 2 p.m. (1800 GMT), even as it maintains its course. But… Continue reading The Federal Reserve Meets Today
Pimco.com – There Will Be Haircuts Let’s perhaps more immediately speak about current and future haircuts when we question the “goodness of money.” Carmen Reinhart has said with historical observation that we are in an environment where politicians and central bankers are reluctant to allow write-offs: limited entitlement cuts fiscally, no asset price sink holes… Continue reading Bill Gross Speaks
The Wall Street Journal – High-Speed Traders Exploit Loophole High-speed traders are using a hidden facet of the Chicago Mercantile Exchange’s computer system to trade on the direction of the futures market before other investors get the same information. Using powerful computers, high-speed traders are trying to profit from their ability to detect when their… Continue reading High Speed Traders
The Telegraph (UK) – ‘There will be more wealth confiscation, without a doubt’ European politicians will take the “easy option” of taking money from the rich rather than raising taxes and cutting spending to deal with the continent’s debt problem, Lars Christensen, the head of Saxo Bank, said. Asked if the raid on uninsured savings… Continue reading “Wealth Confiscation” In Europe
The Financial Post – The bad news about Sell in May and Go Away Not only is May through October the weakest six-month period of the year, but the first year of a Presidential cycle also poses greater risk. The “Sell in May and Go Away” phenomenon is no secret to investors. Monthly data going… Continue reading Sell In May And Go Away?
The Wall Street Journal – Apple’s Record Plunge Into Debt Pool Offering Sets Record; Demand Was More Than $50 Billion Apple Inc. sold the largest corporate-bond deal in history Tuesday, a $17 billion offering investors hungrily gobbled up. Goldman Sachs Group Inc. and Deutsche Bank AG DBK.XE +6.11%sold the debt for Apple to investors in… Continue reading Apple Bonds
The Financial Times – Fed weighs tighter cap on bank leverage Federal Reserve officials are weighing a stricter cap on bank leverage , a move that would respond to increasing demands to constrain the riskiness of large lenders. According to people familiar with the matter, Fed officials have discussed increasing the amount of equity capital… Continue reading Bank Leverage
None Today
The Wall Street Journal – In Stocks, Payouts Trump Potential Investors searching for higher yields are driving up the shares of dividend-paying companies, fueling a debate over whether these traditional haven stocks are getting dangerously expensive. Some buyers argue that dividend stocks have entered a period where demand for income will keep valuations high, perhaps… Continue reading Are Dividend Stocks Really Leading This Rally?
<Click on chart for larger image> <Click on chart for larger image> Bloomberg.com – Paulson Leads Hedge-Fund Lobby Push to Privatize Fannie Hedge funds including Paulson & Co. Inc. are pushing Congress to abandon plans to liquidate Fannie Mae (FNMA) and Freddie Mac as investors buy up preferred stock that has long been considered worthless,… Continue reading Privatize Fannie/Freddie
Bloomberg.com – U.S. Sees First Debt Reduction Since 2007 as Revenue Rises The U.S. Treasury Department projected it will reduce government debt this quarter for the first time in six years as tax receipts exceed forecasts and spending diminishes. The pay-down in net marketable debt was estimated at $35 billion in the April-June period, compared… Continue reading The Treasury Pays Down Debt