Newsclips
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April 18, 2012
h/t The Big Picture
h/t The Big Picture
NPR.org – Why Tax Day Falls On April 17 This Year Every year, millions of Americans scramble to file their income taxes before the filing deadline — ordinarily April 15. But procrastinators get a reprieve this year: The 2012 deadline falls on Tuesday, April 17. This year, April 15 falls on a Sunday. One might… Continue reading Happy Tax Freedom Day
U.S. stock futures traded lower most of the overnight session. In the minutes before European stocks started trading, a sharply lower open was expected. U.S. stock futures traded much lower in sympathy. When European stocks rebounded sharply after trading started, so did U.S. stock futures. So while we obsess over the flood of earnings reports… Continue reading Trade Like It’s 2011
Bloomberg Businesweek – Seaway Pipeline to Begin Oil Shipments to Gulf on May 17 Enbridge Inc. (ENB) and Enterprise Products Partners LP (EPD) (EPD) plan to start crude oil shipments on the Seaway pipeline from Cushing, Oklahoma, to the U.S. Gulf Coast on about May 17, according to a filing with regulators. The initial transit… Continue reading The Brent/WTI Spread
WNYC Blog – New York City Rents Rise 9 Percent New York City’s already an expensive place to live — and it’s only getting more expensive, especially if you are renting in Manhattan.The median rent jumped more than 9 percent in the first three months of this year compared to the same time last year,… Continue reading Rents On The Rise
<Click on chart for larger image> The Financial Times – China: once again a net buyer of US Treasuries Revisions to the data show that China’s bid for Treasuries has returned with the start of the New Year after the largest holders had developed a trend of selling in the latter half of 2011… According… Continue reading Chinese Purchases Of U.S. Treasuries
The Wall Street Journal – Sowing Seeds of the Next Major Crisis It started out like “Mission: Impossible” but has ended up more like “Meet the Fockers,” minus the comedy. Western governments’ emergency interventions in the financial sector during the 2007-2009 crisis and the more recent European turmoil have led to a messy relationship riddled… Continue reading The Federal Reserve Needs To Better Detail Possible Exit Strategies
Bloomberg.com – Paulson Said to Short Europe Bonds Amid Spain Concern John Paulson, the billionaire hedge-fund manager seeking to reverse record losses in 2011, told investors he is shorting European sovereign bonds, according to a person familiar with the matter. Paulson, 56, said during a call with investors that he is also buying credit-default swaps… Continue reading Paulson Shorts Europe
Zero Hedge (blog) – Ignorance Is BLS In one of the most coherent take-downs of the government’s data gatherers, economists, reporters, and the general investing public that soak up the propaganda spewed forth by the former, TrimTab’s CEO Charles Biderman destroys today’s ‘Advance’ retail sales, and crushes the Census Bureau’s process. Needing little additional comment,… Continue reading How Are Retail Sales Statistics Constructed?
The American – Here’s how big the potential 2013 tax hikes would be If you combine all the other tax increases from 1980-1993, they add up to 3.3% of GDP, according to the brilliant budget team at Strategas Research. The coming “taxmageddon” of 2013 surpasses all those tax hikes combined! Bloomberg.com – Tax System Is… Continue reading Taxes & The Budget
The Financial Times – John Dizard:Vix products are not for rational investors Back in the real world, could the apparently frantic trading in Vix products threaten the financial system? I doubt it, but the hedging activities generated by the Vix family may have had some effects on the S&P 500 Index. Howard Simons, of Chicago-area-based… Continue reading Should You Trade VIX Products?
<Click on chart for larger image> The Wall Street Journal – U.S. Consumers Not Out of Gas High gasoline prices and inadequate savings were supposed to drive American consumer spending onto the rocks. So much for that. Retail sales rose 0.8% in March from a month earlier, the Commerce Department reported Monday, just the latest… Continue reading Pain At The Pump