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December 16, 2011
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Chart Courtesy of BofA-Merrill Lynch MarketBeat (WSJ Blog) – One in Three Money Managers Sees Somebody Leaving the Euro Zone Next Year Money managers are a nervous lot these days, and who could blame them, having watched so much of the money they’re managing go up in smoke? According to the latest Bank of America-Merrill… Continue reading The Odds Of A Eurozone Breakup
The Wall Street Journal – Europe Strains World’s Banks The world’s financial system showed new signs of strain on Wednesday as banks and investors clamored for U.S. dollars and two European banks took emergency measures to address the deepening crisis. Stresses rippled through debt and stock markets despite measures taken by European leaders last week… Continue reading Strains Remain Elevated Among European Banks
The Financial Times – John Paulson: Europe needs a firewall to stabilise markets The European sovereign credit markets are in a danger zone. Italy and Spain need to borrow a combined €590bn in 2012, their yields remain above sustainable levels, and the European Central Bank’s efforts at buying debt in the secondary markets have so… Continue reading Market Leaders Chime In On The Eurozone Crisis
<Click on chart for larger image> MarketWatch – Gold quits 200-day average, first since 2009 Gold’s recent selloff pushed the precious metal through its 200-day moving average for the first time since Jan. 2009 early Wednesday. That’s usually a bad sign for an asset, as these moving averages are used to even out daily blips… Continue reading Gold’s Slide Continues
The Financial Times – MF Global a concern of NY Fed since 2009 The Federal Reserve Bank of New York expressed concerns over MF Global’s internal controls as far back as 2009, more than two years before the brokerage declared bankruptcy in October and an estimated $1.2bn in customer funds was discovered missing. The New… Continue reading If MF Global Was A Known Concern, Why Make Them A Primary Dealer?
The Financial Times – Lex: US dollar: double whammy worry The pattern of late is familiar to the point of contempt: stocks go down, the US dollar goes up. Asset manager Factor Advisors notes that the 90-day correlation between the dollar and large-cap US stocks is negative 0.85 – the most extreme in a decade.… Continue reading The U.S. Dollar & Earnings
<Click on chart for larger image> The Wall Street Journal – Jobless Claims Drop Again The number of U.S. workers filing new applications for unemployment benefits fell to the lowest level since May 2008 last week, the latest indication that a weak labor market is improving. Separately, U.S. wholesale prices rose slightly in November amid… Continue reading Claims At A Three-Year Low
Charts of the Week Topics Covered This Week Include: ECRI Still Pointing Toward Recession? Gold’s Drawdown The Euro Greece Looking At China Looking At China – 2 Gingrich Continues To Gain The Myth Of Cash On The Sidelines The Myth Of Cash On The Sidelines – 2 Household Net Worth Measuring The (Lack of) Deleveraging… Continue reading Charts of the Week
[pageview class=”PDFViewer” url=”https://www.biancoresearch.com/bianco/wp-content/plugins/PDFViewer/plugin.php?id=54″] The Wall Street Journal – Fed Takes No Action; Outlook a Bit Better Federal Reserve officials left their policy options open for 2012 but took no actions Tuesday and offered an assessment of the economy that was guardedly more upbeat, but still marked by “significant downside risks.” Nine out of 10 Fed… Continue reading The FOMC Statement
The Big Picture (Blog) – Retail Sales Disappoint on False Black Friday Reports Last month, I published a post on the nonsense that is Black Friday sales (No, Black Friday Sales Were Not Up 16% (not even 6%). That evolved into a Washington Post article, Did Black Friday save the season? Beware the retail hype.… Continue reading Retail Sales Disappoint