Blackstone.com – Byron Wien Announces Predictions for Ten Surprises for 2013 Byron started the tradition in 1986 when he was the Chief U.S. Investment Strategist at Morgan Stanley. Byron joined Blackstone in September 2009 as a Senior Advisor to both the firm and its clients in analyzing economic, political, market and social trends. Byron’s Ten… Continue reading Byron Wien’s 2013 Predictions
The Atlantic – What’s Inside America’s Banks? Some four years after the 2008 financial crisis, public trust in banks is as low as ever. Sophisticated investors describe big banks as “black boxes” that may still be concealing enormous risks—the sort that could again take down the economy. A close investigation of a supposedly conservative bank’s… Continue reading Inside U.S. Banks
<Click on chart for larger image> MarketWatch.com – How special is January? Commentary: How different is January than other months? January’s historical record provides a textbook illustration of the need to distinguish between patterns that impress statisticians and those that are big enough to actually impress investors. That’s because, in at least two respects, January… Continue reading The Stock Market In January
The Financial Times – US payroll tax – change hurts Tax rise seen to threaten middle-tier retailers News that the president and Congress had passed a budget deal turned the US stock market into a sea of green on Wednesday. But there were a few red sharks splashing around out there. A conspicuous number of… Continue reading More On The Payroll Tax
The Financial Times – Cliff deal threatens second term agenda Moments after the fiscal cliff was averted, President Barack Obama strode to the White House podium to thank congressional leaders from both parties and remind them of other policy challenges ripe for bipartisan co-operation. What followed was an ambitious list of second-term priorities: immigration reform,… Continue reading The Fiscal Cliff Deal And Obama’s Agenda
Bloomberg.com – Caroline Baum: Condo-Flip Redux Would Leave Fed Out in the Cold The Fed has done everything in its power to lower long-term interest rates, focusing more on the composition of its balance sheet than the size. It sold its entire portfolio of short-term Treasuries in exchange for longer-term notes and bonds. The maturity… Continue reading Flipping Homes And The Federal Reserve
The Wall Street Journal – Portugal Faces Divisions Over Austerity Measures Portugal’s president sent the 2013 budget to the country’s highest court for review, an unusual move that highlights deepening opposition to a two-year austerity drive. President Aníbal Cavaco Silva, who is the head of state and like Prime Minister Pedro Passos Coelho belongs to… Continue reading Portugal
The Financial Times – US funds return to eurozone banks US money market funds increased their exposure to eurozone banks for five months in a row at the end of last year, underscoring how confidence in the region has improved in the wake of actions by the European Central Bank. New figures from Fitch Ratings… Continue reading Money Market Funds Return To EU Banks
Capital New York – Looking to the next debt-ceiling fight, Nadler proposes a trillion-dollar coin trick Rep. Jerrold Nadler has an admittedly “out of the ordinary” solution to the coming fight over the debt ceiling. “There is specific statutory authority that says that the Federal Reserve can mint any non-gold or -silver coin in any… Continue reading Just Like Zimbabwe!
Charts of the Week Topics Covered This Week Include: Congress Passes Fiscal Cliff Bill, Growth Poor For 2013 It’s All About Capital Gains The Debt Ceiling Is Reached Housing’s Gains Earnings And Revenue Expectations Stocks vs Bonds Total Returns Credit Market Update Retail Gas Prices Gold Crude Oil Futures: Producers Moving Toward Neutral Long Term… Continue reading Charts of the Week
The Wall Street Journal – Analysis: 77% of Households to See Tax Increase The fiscal cliff bill’s impact would be far-reaching for American taxpayers, and particularly painful for very high-income households, according to a new analysis. About 77% of American households would see a tax increase compared to their 2012 tax levels, according to the… Continue reading Congress Passes Fiscal Cliff Bill, Growth Outlook Poor For 2013