<Click on chart for larger image> Reuters – More than 60 percent of global consumers downbeat: Nielsen Global consumer confidence remained weak in the third quarter with more than 60 percent of consumers saying it was not a good time to spend, and one-in-three North Americans saying they have no spare cash, a survey showed… Continue reading Confidence Versus Activity
The Big Picture (blog) – James Bianco: Crisis Correlations Video of Jim Bianco’s October 11 Presentation to the Big Picture Conference In NYC [pageview class=”PDFViewer” url=”https://www.biancoresearch.com/bianco/wp-content/plugins/PDFViewer/plugin.php?id=50″]
None Today
Comment Jim Bianco was on CNBC yesterday discussing the latest GDP report, earnings and the markets. To view the interview click on the image above. To view any of our recent interviews click here. For more on Q3 GDP see the block below. On the topic of earnings, Jim highlighted the charts below. As we… Continue reading Discussing Q3 GDP And The Markets
Zero Hedge (Blog) – Q3 Advance GDP Prints At 2.5% In Line With Expectations; 100% Debt-To-GDP Threshold Postponed By 45 Days Advance Q3 was expected to print at 2.5%; it printed at 2.5%. Nothing too surprising in the constituent factors, aside from the fact that this was the biggest QoQ jump in GDP since Q4… Continue reading Market Capitalization As A Percentage Of GDP
The Financial Times – Barack Obama: A firewall to stop Europe’s crisis spreading When leaders of the largest economies meet next week in France, our citizens will be watching for the same sense of common purpose that allowed us to rescue the global economy two years ago from a financial crisis that was sparked by… Continue reading Obama Speaks
The Telegraph (UK) – Eurozone bail-out: holes emerge in the ‘grand solution’ to solve EU debt crisis A trillion euro bail-out to save the EU’s single currency is in danger of unravelling after Germany’s central bank warned that the rescue measure was too dependent on the high-risk deals that caused the economic crisis Bill Gross,… Continue reading Skepticism About The Debt Plan
The Big Picture (blog) – Stock Market Melt Up: November 1998 or December 2008? Stunning! The S&P500 at its high today was up 20.3 percent from the October 4th intraday low of 1074.77. We’re talking the S&P500, not the Brazilian BOVESPA or Hang Seng Index! This kind of initial move in the S&P500 in just… Continue reading The Stock Market’s Rally
<Click on chart for larger image> Bloomberg.com – Commercial Paper Snaps Longest Decline in a Decade, Fed Says The market for U.S. commercial paper snapped the longest losing stretch in at least a decade as investors wagered European leaders would curb the debt crisis and bought short-term IOUs from foreign financial institutions, Federal Reserve data… Continue reading Commercial Paper
Bloomberg.com – EU Bank Debt Plan May Struggle to Thaw Funding Market European banks, which need to refinance more than $1 trillion of debt next year, may struggle to fund themselves until policy makers follow through on a pledge to guarantee their bond sales. European Union leaders promised this week to “urgently” look at ways… Continue reading EU Banks
Forbes.com – Recreating A Real Gold Standard The Fed would use the discount rate rather than the federal funds market to supply or withdraw credit in response to any imbalance between supply and demand for it. Commercial bills, not government securities, would be discounted and the Fed, like other central banks, would be prohibited from… Continue reading The Gold Standard
The Chicago Tribune – State bond issue sees strong sales Between its unpaid bills and massive pension obligations, Illinois still has some of the worst credit ratings in the nation for its general obligation bonds, but the debt sold Tuesday was specifically backed by a dedicated slice of sales tax revenues, which are growing and… Continue reading Munis