<Click on chart for larger image> Barron’s – The Euro’s Fate Against the intense media glare trained on crucial recent events of Europe, notably Greece’s election and the latest summit of European Union leaders, one important development was all but obscured. Airbus, the European consortium that is the main rival to Boeing, recently announced that… Continue reading The Euro
The Financial Times – Wall Street banks step up oil trade role Wall Street banks are wading deeper into the business of supplying oil as they increasingly compete with oil traders and merchants selling crude to refineries. JPMorgan Chase, Morgan Stanley and Goldman Sachs have all recently struck deals to supply US refiners. Goldman Sachs… Continue reading Wall Street Banks And Oil Trade
The Wall Street Journal – Yea! Home Prices Hitting Bottom. Now, the Bad News. This is a great time to buy a home in many parts of the country. There are signs that the downward price spiral is bottoming out. Mortgage rates are at historic lows. The next few years could well be remembered as… Continue reading Home Prices
The Associated Press – Barton Biggs, former Morgan Stanley top strategist, dies at 79, bank says Barton Biggs, the former chief global strategist for Morgan Stanley, who warned three years before the crash in dot-com companies that stocks were too expensive, has died, the bank said Monday. He was 79. Morgan Stanley CEO James Gorman… Continue reading RIP Barton Biggs
The Wall Street Journal – Big Banks Predict Sub-2% Treasury Yield at Year End The world’s biggest bond-trading banks expect the benchmark 10-year U.S. Treasury yield to remain below 2% at the end of the year, with several predicting the yield will set a record low by December. The findings, based on a Dow Jones… Continue reading 10-Year Treasury Yield
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[audio:https://www.biancoresearch.com/bianco/SubscriberArea/newsclips/2012/07/s5bb9726.mp3|titles=Bloomberg Interview] Comment Jim Bianco was on Bloomberg Radio yesterday morning discussing asset returns and his view on the markets. To listen to the interview click above.
The Wall Street Journal – J.P. Morgan Second-Quarter Profit Fell 8.7% Losses on ‘Whale’ Trades Total $5.8 Billion Through Thursday Finance chief Doug Braunstein on Friday put the trading loss through Thursday at $5.8 billion. … The New York company said Friday that using market benchmarks to value certain structured-credit positions at the Chief Investment… Continue reading JP Morgan Details London Whale Losses
JP Morgan – Form 8-K for JPMORGAN CHASE & CO, July 13 However, the recently discovered information raises questions about the integrity of the trader marks, and suggests that certain individuals may have been seeking to avoid showing the full amount of the losses being incurred in the portfolio during the first quarter. As a… Continue reading JP Morgan Makes Up CDS Prices
The Economist – Comeback kid America’s economy is once again reinventing itself ALMOST the only thing on which Barack Obama and Mitt Romney, his Republican challenger, agree is that the economy is in a bad way. Unemployment is stuck above 8% and growth probably slipped below an annualised 2% in the first half of this… Continue reading The U.S. Economy
CNBC – The Fed Manipulates Rates All the Time: James Grant The Federal Reserve and other central banks manipulate interest rates every day, James Grant of Grant’s Interest Rate Observer told CNBC’s “Closing Bell” on Thursday. “The Fed is in the business of trying to manipulate markets, the macro economy, interest rates, unemployment and inflation… Continue reading Jim Grant Speaks
The Economist – Quantitative easing: QE, or not QE? An assessment of the most controversial weapon in the central banker’s armoury The trillion-dollar question is whether QE boosts the broader economy (see chart on previous page). Early assessments answer with a cautious “yes”. Research published by the Federal Reserve Bank of San Francisco indicates that… Continue reading All About QE