Real Time Economics (WSJ Blog) – IMF: Low Interest Rates Raise Risk of Money-Market Mutual Fund Run Money-market mutual funds could face widespread investor panic if debt markets suddenly sour, the International Monetary Fund warned Thursday. That’s one of several threats to financial stability long-term monetary easing may be creating, the IMF said in a… Continue reading The IMF Warns On Money Market Funds
Deal Journal (WSJ Blog) – John Paulson to Start New Hedge Fund John Paulson took flack for considering a move to Puerto Rico, one that would have cut his tax bill. Mr. Paulson dropped the idea of a move. But the hedge fund manager seems more determined to help his clients reduce their own tax… Continue reading John Paulson’s New Hedge Fund
DealBook (NYT Blog) – Never Mind Facebook; Winklevoss Twins Rule in Digital Money The Winklevoss twins, Cameron and Tyler — Olympic rowers, nemeses of Mark Zuckerberg — are laying claim to a new title: bitcoin moguls. The Winklevii, as they are known, have amassed since last summer what appears to be one of the single… Continue reading The Winklevoss Twins Own 1% Of All Bitcoins
Irish pupils recently entered drawings for the “EU and you” competition. This is one entry, on display in European Parliament.
Reuters – (March 27, 2013) Fed’s Evans: likely to need to maintain bond buys to end of year The U.S. Federal Reserve would do best to keep buying assets at its current $85-billion-a-month pace until the jobs market is on firmer ground, a point that probably won’t be reached until the end of the year,… Continue reading Is Charlie Evans Searching For A Unicorn?
Zero Hedge – Sam Zell: “The Stock Market Feels Like The Housing Market Of 2006” Sam Zell graced them with his presence and the truth was allowed a voice for a few minutes. Joined by David Rosenberg, who clarifies the insanity that engulfs US equities, explaining in wonderment that it is “not surprising the market… Continue reading Where Are Stocks Going Up?
Real Time Economics (WSJ Blog) – Who Got the Fed Minutes Early? The Federal Reserve said early Wednesday that it inadvertently e-mailed the minutes of its March policy meeting a day early to some congressional staffers and trade groups. Late this afternoon, the central bank released to reporters a list of more than 150 e-mail… Continue reading Who Got The Minutes Early?
Bloomberg.com – Caroline Baum: The Fed’s Holmes-Moriarty Problem Every time I get to the part in the Federal Reserve minutes where the results of the New York Fed’s primary dealer survey are discussed, I chuckle. From the minutes of the March 19-20 meeting, released today: “Results from the Desk’s survey of primary dealers conducted prior… Continue reading The Federal Reserve/Primary Dealer Feedback Loop
The Wall Street Journal – Portugal to Request Extension on Bailout Loans Portugal will ask its international creditors for an extension on the maturities of its bailout loans in order to smooth out its refinancing commitments and tap the 10-year bond markets in the future, the country’s finance minister said Thursday. Vitor Gaspar told an… Continue reading Europe
<Click on chart for larger image> MarketBeat (WSJ Blog) – What’s Holding Yen Back From 100? The yen has dropped to a four-year low, and it’s once again on the cusp of declining to a psychologically key level of 100 against the U.S. dollar. One dollar hasn’t been worth 100 yen since April 2009. The… Continue reading The Yen
Comment Jim Bianco was on CNBC yesterday discussing the Federal Reserve. To view the interview click on the image above. To view any of our recent interviews click here. CNBC – Some Fed Members Fear Monetary Policy Effects Federal Reserve policy makers worried about increased risks due to the central bank’s aggressive monetary stimulus, though… Continue reading Fear The Federal Reserve
Bloomberg.com – Caroline Baum: For $168 Billion We Should Get a Better Return It started as 30 words. One hundred years later, it’s almost 4 million. The 16th Amendment to the U.S. Constitution, which created the federal income tax, and the millions of words in the tax code today provide symbolic data points marking the… Continue reading Time To Pay The Taxman