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Charts of the Week
Conference Call Presentation/Charts of the Week
July 18, 2012
Conference Call Presentation/Charts of the Week Audio Topics Covered This Week Include: Risk-On, Risk-Off What Is Needed For More QE? No More Earnings Growth Where Are The Bears? Everyone Hates Bonds! What Next For Interest Rates? The U.S. Economy – Not Very Good Leading And Coincident Measures Of The Economy Projections For Unemployment The Fed’s… Continue reading Conference Call Presentation/Charts of the Week
Newsclips
Who Needs The Euro?
July 18, 2012
The Wall Street Journal – Who Needs the Euro When You Can Pay With Deutsche Marks? Germans have yet to give up on the euro. But as Europe’s debt crisis rages on, many are indulging their nostalgia for the abandoned mark by shopping with it again—and retailers are happily going along.As defunct currencies go, “die… Continue reading Who Needs The Euro?
Newsclips
Bernanke Testifies Before Congress
July 18, 2012
CNN – The not-so-great and powerful Ben Bernanke For the past few weeks, the market has been off to see the wizard, the wonderful wizard of the Fed. But traders who’ve been following the yellow brick road in the hopes of more stimulus came away disappointed Tuesday. Click your heels three times and repeat after… Continue reading Bernanke Testifies Before Congress
Newsclips
Is The U.S. Nearing A Recession?
July 18, 2012
<Click on chart for larger image> <Click on chart for larger image> <Click on chart for larger image> Comment Yesterday Bill Gross tweeted, “US economy approaching recession when measured by employment, retail sales, investment, and corporate profits.” Ben Bernanke also noted in his testimony yesterday that the Federal Reserve is carefully looking at the economy,… Continue reading Is The U.S. Nearing A Recession?
Newsclips
LIBOR
July 18, 2012
The Financial Times – Libor ‘structurally flawed’, says Fed Libor is “structurally flawed” and an international effort would be needed to restore the rate’s credibility as the leading benchmark for mortages, derivatives and corporate lending around the world, Ben Bernanke, US Federal Reserve chairman, told Congress on Tuesday. In his first public testimony since Barclays… Continue reading LIBOR
Newsclips
Fiscal Cliff Fears
July 18, 2012
The Washington Post – U.S. economic fears shift from Europe toward ‘fiscal cliff’ The main threat to the economy is shifting from what others may do to us to what we are doing to ourselves. For much of the year, economists worried about the impact of the slowdown in Europe on the U.S. economy. Now,… Continue reading Fiscal Cliff Fears
Newsclips
Ireland
July 18, 2012
<Click on chart for larger image> The Wall Street Journal – ECB Signals Support for Easing Irish Debt Terms The European Central Bank signaled it is willing to support Ireland’s request for easier terms on its government-funded bank bailout, a sharp shift in the central bank’s long-standing position. The move represents another step in the… Continue reading Ireland
Newsclips
Low Mortgage Rates Do Little To Help Refis
July 18, 2012
<Click on chart for larger image> Bloomberg.com – Record Mortgage Rates Spur Meager Refi Gains: Chart of the Day (No link) While mortgage refinancing soars with interest rates at record lows, bond data are signaling good reason for the Federal Reserve to consider the pace lackluster. The CHART OF THE DAY shows how prepayment speeds… Continue reading Low Mortgage Rates Do Little To Help Refis
Newsclips
China Raises U.S. Treasury Holdings
July 18, 2012
<Click on chart for larger image> Bloomberg Businessweek – China Raises Treasury Holdings First Time in Three Months China, the largest foreign U.S. creditor, boosted its holdings of government securities in May to the most in six months as the American economy stalled and Europe’s sovereign-debt crisis deepened. Chinese holdings rose 0.4 percent to $1.1696… Continue reading China Raises U.S. Treasury Holdings
Newsclips
Foreigners Flee Spain, Italy
July 18, 2012
The Telegraph – The euro graph of doom Graphics can often tell a story better than words. For those who think the euro already doomed, the following graphic, drawn from the International Monetary Fund’s latest Global Financial Stability Report, tells it all. What it shows is the now extreme flight of foreign capital from Spain… Continue reading Foreigners Flee Spain, Italy