Comment Jim Bianco of Bianco Research LLC chats with TrimTabs’ Charles Biderman about the financial impact of the Presidential election and our economic future. In the conversation, Jim discussed the market’s “rethink” about the fiscal cliff. Until election day it was viewed as a non-issue. Then the market watched the election returns, which were entirely… Continue reading The Fiscal Cliff Worry
Comment Jim Bianco was on CNBC yesterday discussing the stock market’s plunge since election day. To view the interview, click on the image above. To view any of our recent interviews click here.
The New York Times – Paul Krugman: Let’s Not Make a Deal So President Obama has to make a decision, almost immediately, about how to deal with continuing Republican obstruction. How far should he go in accommodating the G.O.P.’s demands? My answer is, not far at all. Mr. Obama should hang tough, declaring himself willing,… Continue reading Fiscal Cliff: Deal or No Deal?
<Click on chart for larger image> The New York Times – Debt Ceiling Complicates a Tax Shift Come January, should Congress fail to act, the United States will face more than immense tax increases and spending cuts. It will also run out of room to finance its large running deficits. The Treasury Department expects the… Continue reading Don’t Forget The Debt Ceiling
CNBC – S&P: 15 Percent Chance US Goes Off ‘Fiscal Cliff’ Analysts at the credit ratings agency now see about a 15 percent chance that political brinkmanship will push the U.S. economy — the world’s largest — over the fiscal cliff. “The most likely scenario, in our view, is that policymakers reach sufficient political compromise… Continue reading What Are The Rating Agencies Thinking?
The Economist – Buttonwood: Desperately seeking yield Investors are gorging on corporate bonds. Is an asset bubble being inflated? THESE are good times for the corporate treasurers of large firms. They can raise money in the bond markets at the lowest cost in living memory (see chart). Companies have been quick to take advantage of… Continue reading Corporate Bond Bubble?
The Economist – To the cliff, and beyond Barack Obama and the Republicans have precious little time to act ..A DAY after receiving a thumbs-up from voters, Barack Obama got a thumbs-down from the stockmarket, which fell 2%, its biggest fall in a year. Blame the threat of higher taxes on dividends and capital gains… Continue reading How Big Is The Fiscal Cliff?
The Financial Times – Libor rates cull proposed Libor will be gradually pruned back from 150 daily fixings to 30 by April of next year under proposals unveiled by the British Bankers’ Association on Thursday. The London Interbank Offered Rate is currently set daily for 15 different time periods and 10 different currencies, but a… Continue reading The New LIBOR … And The Old LIBOR
The Economist – Ratings agencies: Crisis in ratings land? The greater-fool defence takes a blow The ruling in the Federal Court of Australia on November 5th held Standard & Poor’s (S&P) jointly liable with ABN AMRO, a bank, for the losses suffered by local councils that had invested in credit derivatives that were designed to… Continue reading Are Credit Raters Liable?
None Today
Reuters – Fitch: No Fiscal honeymoon for president Obama The newly re-elected US President Barack Obama will need to quickly secure agreement on avoiding the ‘fiscal cliff’ and raising the debt ceiling following Tuesday’s elections, Fitch Ratings says. The economic policy challenge facing the President is to put in place a credible deficit-reduction plan necessary… Continue reading Are Fiscal Cliff/Debt Downgrade Fears Taking Hold In The Repo Market?
The Wall Street Journal – Wall Street Slams On Brakes as Hazards Loom Markets to Washington: Strike a deal. With the tumultuous election over, Wall Street has begun to focus on the next big crisis, the “fiscal cliff” of mandatory tax increases and government spending cuts for 2013 that investors fear could send the economy… Continue reading All Eyes On The Fiscal Cliff