CBS News – Democrats and Republicans gird for Supreme Court health care ruling fallout The Supreme Court is poised to announce a decision this week – perhaps as early as today – that could affect the political landscape, the economy, and the lives of millions of Americans.As the court winds up its term, the justices… Continue reading Health Care Ruling This Week
Bloomberg.com – Central Banks Commit to Ease as Threat of Lost Decades Rises Central bankers are finding it easier to support their economies than to spur expansion as the prospect of Japanese-like lost decades looms across the developed world.Another round of loosely correlated global stimulus has begun after the Federal Reserve extended its Operation Twist… Continue reading Central Banks Commit To Easing …Fear Of Japan-like Lost Decades
The Wall Street Journal – Bunds Lose Some Standing As Haven Yields Rise on One of the Few Remaining Havens as Big-Name Investors Become Sellers After flocking to the safety of German government debt since the onset of the European debt crisis, some of the biggest names in the bond market have started cutting back.… Continue reading Has Germany Lost Its Safe Haven Status?
Reuters – JP Morgan trade continues to distort credit markets Traders point to a variety of indicators consistent with the CIO hedging its position, such as the basis between the on-the-run CDX IG index and the off-the-run Series 9 index that JP Morgan holds ballooning from 20.14bp in late March to a peak of 44.81bp… Continue reading JP Morgan
The Wall Street Journal – S&P’s Methods Under Lens The Securities and Exchange Commission is examining Standard & Poor’s Ratings Services’ 11th-hour decision to pull its ratings on a high-profile deal backed by commercial-real-estate loans, say current and former employees questioned recently by the regulator. The scrutiny relates to S&P’s decision in July 2011 to… Continue reading S&P Ratings Services Under Watch
Zero Hedge – Dr. Michael “The Big Short” Burry’s “Brutal Hangover Is Inevitable” State-Of-The-World UCLA Commencement Speech Infamous for his prediction of the great recession, Europe’s demise, and the collapse of the US financial system (as well as profiting extremely handsomely from said predictions), so well captured in Michael Lewis’ book “The Big Short”, UCLA’s… Continue reading Michael Burry Speaks
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<Click on chart for larger image> Bloomberg.com – Fed’s Re-Twist May Lift Treasury Repurchase Agreement Rates Rates in the repurchase-agreement market have risen since the Fed last year began swapping short-term debt for longer-term Treasuries on its balance sheet to extend the average maturity of its holdings and buoy economic growth by keeping long-term borrowing… Continue reading Will Twist Cause Problems For The Repo Market?
Comment Jim Bianco was on CNBC yesterday discussing Moody’s bank reviews and the Federal Reserve. To view the interview click on the image above. To view any of our recent interviews click here. The Wall Street Journal – Ratings Cut for Giant Banks Moody’s Downgrades Hit Five of Six Largest U.S. Banks, Add to Market… Continue reading Moody’s Downgrades The Banks
The Guardian (UK) – Mario Monti: we have a week to save the eurozone Italian prime minister warns that there is no room for failure in talks between single currency’s big four countries Italy’s prime minister, Mario Monti, has warned of the apocalyptic consequences of failure at next week’s summit of EU leaders, outlining a… Continue reading The Euro Has A Week To Fix Its Problems … Again
The Wall Street Journal – EU Banks’ Risk in Eyes of Beholder Worry Is That Lenders Are Boosting Gauge of Their Health Regulators and investors are concerned that some European banks are artificially boosting a key measure of their financial health, a worry that is further eroding market confidence in the Continent’s banks. Such concerns… Continue reading EU Banks In Trouble
The Economist – When the chips are down The European Central Bank has unlimited firepower and limited inclination to use it. The first of two articles on central banks explains the ECB’s thinking IN 2008 and 2009, policymakers impressed markets with decisive action. Central banks moved swiftly to slash interest rates and extend liquidity, beefing… Continue reading Central Banks