FIN Alternatives – Hedge Funds Continue To Lag S&P 500 In Aug. The Hennessee Hedge Fund Index added 0.97% in August, bringing its year-to-date gains to 3.82%. Hedge funds continue to underperform the S&P 500, which was up 1.98% on the month and has racked up YTD gains of 11.85%. That said, most of the… Continue reading Hedge Funds Lag
The Wall Street Journal – Italy Says It Won’t Seek Aid For months, Italy pushed for a Europe-wide plan to buy the bonds of struggling countries as a path out of the euro-zone debt crisis. That plan now exists, but Italy has no intention of using it. “We don’t think it’s necessary, or desirable, to… Continue reading No Aid For Italy
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(h/t The Big Picture)
Charts of the Week Topics Covered This Week Include: What Will The Federal Reserve Do? Corporate Issuance Credit Spreads Is This Rally Hated? Is This Rally Hated? – 2 Election Update Earnings Continue To Look Poor Hedge Funds’ Continued Poor Performance Payrolls When Do We Reach The Debt Ceiling? China Continues To Struggle Brent-WTI Spread… Continue reading Charts of the Week
MoneyNews.com – Bernanke Options to Stimulate Growth Include Open-Ended QE Plan Federal Reserve Chairman Ben Bernanke, who last month defended his unorthodox monetary policies, has a new tool at hand should he seek one to a revive a flagging economy and labor market: open-ended bond buying. Barclays Plc forecasts the Federal Open Market Committee this… Continue reading A Look At Open-Ended Bond Buying
The Huffington Post – Expectations high for major Fed action Thursday If the world’s investors are right, the Federal Reserve is about to take a bold new step to try to invigorate the U.S. economy. And many expect the Fed to unleash its most potent weapon: a third round of bond purchases meant to ease… Continue reading On The Lookout For QE3
The New York Times – In Victory for Merkel, German Court Backs Euro Rescue Fund Germany’s Federal Constitutional Court on Wednesday gave Chancellor Angela Merkel a significant victory in her bid to master the debt crisis that has buffeted the continent for years and endangered its common currency, granting approval to one of the key… Continue reading German Court Upholds The ESM
The Financial Times – Martin Wolf: Draghi alone cannot save the euro Last week’s decision by the European Central Bank to make unlimited purchases of government bonds in secondary markets was both necessary and bold. Mario Draghi, the ECB’s president, deserves credit for having obtained agreement for this controversial step, against the sole, albeit significant,… Continue reading Saving The Euro
<Click on chart for larger image> The Wall Street Journal – Moody’s Cautions of Possible U.S. Downgrade in 2013 Moody’s Investors Service, in the latest reminder of the tense fiscal negotiations looming for Congress and the White House, said it could downgrade the U.S. government’s credit rating next year if steps aren’t taken to tackle… Continue reading Moody’s Threatens To Downgrade The U.S.
Bloomberg.com – Spain Says No ‘Urgency’ to Seek Bailout as ECB Eases Yields Prime Minister Mariano Rajoy told Parliament it’s not clear if Spain needs help as the European Central Bank’s crisis plan has cut borrowing costs. There’s no “urgency” because the ECB’s move put the Treasury in a more “comfortable” position, Deputy Economy Minister… Continue reading Spain
The Washington Post – RAHN: The wrong doctors Central bankers are putting all at risk Central banks are being pressured by their political masters to solve a problem they cannot solve. On Wednesday, a German court is going to rule whether the European Central Bank can buy an unlimited amount of debt from the national… Continue reading Central Banks Are Under Too Much Pressure