Total Return (WSJ Blog) – Are Individual Investors Fleeing Stocks? Nope A new report from Vanguard Group casts some doubt on the meme that retail investors have been fleeing stocks like rats from a sinking ship. The report, “How America Saves,” is the latest installment in Vanguard’s annual survey of the more than 3 million… Continue reading Retail Still Hates Stocks
Comment For years we have been noting the problems with “Lie-bor” and now the fines are rolling in. This is a big problem for the banking system because it highlights the dysfunctional nature of the interbank funding markets (something we detailed in our conference call yesterday). It also exposes the banks to litigation that may… Continue reading Lie-Bor
The Wall Street Journal – Court Backs Obama on Health Law Chief Justice John Roberts joined the Supreme Court’s four liberals Thursday to uphold the linchpin of President Barack Obama’s plan to expand health coverage to nearly all Americans, a surprise conclusion to a constitutional showdown. The ruling clears the way for the biggest revamp… Continue reading Obamacare
The Huffington Post – On Health Care, Intrade Again Disproves The Wisdom Of Traders, Crowds Can we all agree now that there’s not so much wisdom in markets, or crowds? The Supreme Court’s decision to uphold President Barack Obama’s health care reform law was surprising at least partly because a financial market had predicted that… Continue reading InTrade And The Healthcare Ruling
The Economist – Central banks: Don’t give up Central banks cannot substitute for incompetent politicians. But they can do more to support weak economies FOR almost half a decade the world’s big central banks have been energetic paramedics to their sickly economies. Both in 2007-08 and, more recently, in the euro crisis, they warded off… Continue reading Central Banks
Comment Stop me if you heard this before. Europe announces what the markets want to hear. They will create a banking union and bailout fund (Euro-Tarp) and make a change in the subordination of the Spanish banking bailout. Risk-on market rallied on the news. However, no details have been offered (see the highlights below, courtesy… Continue reading Yet Another Promise Of A European Bailout
FT Alphaville – Greek mattresses seeing capital flight With a new government in place and market focus shifted to Spain and Italy’s debt issues, Greece has been enjoying a bit of welcome breathing space. The country’s banks have been seeing steady inflows since the election two weeks ago, according to Reuters (emphasis ours): Yannis Stournaras,… Continue reading Is Greek Capital Flight Reversing?
Zero Hedge – With Total Viewers Sliding To 7 Year Lows, Is CNBC Fading Into Obscurity? -Squawk Box (6-9 a.m.) is supposed to prime traders before the bell. The show posted its lowest rated its time block since Q4 2006. -The Closing Bell (3-5 p.m.) is supposed to wrap up the day’s action. The slot… Continue reading CNBC Ratings
Today at 9 AM CT (10:00 AM ET, 7:00 AM PT, and 15:00 BST), Bianco Research, in conjunction with Arbor Research & Trading, will be hosting a webcast/teleconference moderated by Jim Bianco. Join us today as we discuss the deteriorating situation in Europe and how the Federal Reserve’s extension of Operation Twist fits into the… Continue reading What’s Next For Europe & The Federal Reserve?
The Wall Street Journal – As Summit Looms, Merkel Sees ‘Controversial’ Talks European leaders embark on talks here Thursday over steps they hope will begin to lift doubts about the survival of the euro, amid skepticism in financial markets that they can achieve a breakthrough to stem the debt and banking crises. At the two-day… Continue reading Yet Another Summit To Save The Euro
Bloomberg.com – Draghi May Enter Twilight Zone Where Fed Fears to Tread European Central Bank President Mario Draghi is contemplating taking interest rates into a twilight zone shunned by the Federal Reserve. While cutting ECB rates may boost confidence, stimulate lending and foster growth, it could also involve reducing the bank’s deposit rate to zero… Continue reading The ECB Contemplates Cutting Rates Below Zero