Comment Jim Bianco was on CNBC yesterday discussing regulation. To view the interview click on the image above. To view any of our recent interviews click here. The Wall Street Journal – Scandal Shakes Trading Firm A deepening scandal in the futures-trading business has left an elder statesman of the industry hospitalized after a suicide… Continue reading The Case Of The Missing Money…Take 2
Zero Hedge (Blog) – ECRI’s Achuthan: “The US Is In Recession Already” Achuthan on whether he can reaffirm his recession call from last year: “Yeah…I think a lot of people forget what our call was. What we said back in December was that the most likely start date for the recession would be in Q1… Continue reading Recession Talk
The Wall Street Journal – Spain Piles On Austerity Measures Spanish Prime Minister Mariano Rajoy announced fresh austerity measures worth €65 billion ($79.62 billion) through to the end of 2014 Wednesday in an effort to meet new budget deficit targets agreed with euro-zone partners, raising fresh questions about how quickly the country’s economy will emerge… Continue reading European Austerity
The Wall Street Journal – Libor Demystified Monday’s parliamentary testimony from Paul Tucker, deputy governor of the Bank of England, has done nothing to calm the political furies swirling around Barclays bank and the London Interbank Offered Rate. But the testimony was a useful education in what Libor is, what it isn’t, and why this… Continue reading LIBOR
<Click on chart for larger image> The Wall Street Journal – Firms Dash to Debt Market High-grade companies scurried to issue nearly $9 billion of bonds Tuesday to exploit some of the lowest borrowing costs on record…Low yields have enticed companies to borrow nearly $530 billion of high-grade debt so far this year, outpacing the… Continue reading Corporate Bond Issuance
<Click on chart for larger image> Investors Business Daily – Disability Ranks Outpace New Jobs In Obama Recovery More workers joined the federal government’s disability program in June than got new jobs, according to two new government reports, a clear indicator of how bleak the nation’s jobs picture is after three full years of economic… Continue reading The Jobs Market
None Today
<Click on chart for larger image> The Washington Post – Barry Ritholtz: There’s nothing new about uncertainty Back in fall 2010, one of those absurd memes began circulating in think tanks, on the Internet and around trading desks regarding the impact of uncertainty. “Oh no!” declared pundits. “The economy cannot recover so long as it… Continue reading Measuring Policy Uncertainty
The Washington Post – President Obama, Mitt Romney deadlocked in race, poll finds A pair of tepid jobs reports, landmark Supreme Court decisions on health-care and immigration laws, and an unprecedented barrage of negative ads have shaped the opening months of the fall presidential campaign. The impact on the horse race: virtually none. According to… Continue reading An Updated Look At The Election
<Click on chart for larger image> The Financial Times – Spanish bailout talk returns as bond yields leap Just when Madrid thought it could breathe again, the markets have turned. Spain’s borrowing costs have rebounded sharply, returning to near euro-era highs, and investors are speculating it may need to seek a full sovereign rescue. A… Continue reading Spanish Bailout Talk
The Financial Times – Rate of German bonds change deceptive Europe’s “core” last week was rich with imagery proving the existence of potentially era-defining outliers. But, just as physicists will want to examine the evidence for the elusive Higgs boson, so traders should be cautious of reading too much into the startling chart below. It… Continue reading German Bonds
The Financial Times – France sells treasuries at negative yield France sold six-month treasury bills at a negative yield for the first time, highlighting the reversal in sentiment towards Europe’s second-largest economy from last autumn when the eurozone crisis pushed its borrowing costs higher. France’s debt office in Paris issued €7.7bn of treasury bills maturing… Continue reading Negative Yields In France