Reuters – EU Summit Will Not Solve Euro Zone Crisis: Germany German Chancellor Angela Merkel has no concrete plans to meet top bankers ahead of the weekend’s European Union summit, the chancellor’s spokesman Steffen Seibert said on Monday. Finance Minister Wolfgang Schaeuble separately told reporters the summit on October 23 would not present a definitive… Continue reading No Fix For The EU On October 23
The New York Times – In Private, Wall St. Bankers Dismiss Protesters as Unsophisticated As the Occupy Wall Street demonstrations have grown and spread to other cities, an open question is: Do the bankers get it? Their different worldview speaks volumes about the wide chasms that have opened over who is to blame for the… Continue reading Occupy Wall Street
New York Times – Eyes Once on the Ticker Are Now on the Meter Tough times have prompted more New Yorkers to seek financial relief and upward mobility in the taxi trade. The number of licensed city cabbies has risen by 10 percent since the stock market began its decline in late 2007, according to… Continue reading Cash Cab
The Wall Street Journal – The Exasperation of the Democratic Billionaire Real-estate and newspaper mogul Mortimer Zuckerman voted for Obama but began seeing trouble as soon as the stimulus went into the pockets of municipal unions ‘It’s as if he doesn’t like people,” says real-estate mogul and New York Daily News owner Mortimer Zuckerman of… Continue reading Obama’s Supporters
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Comment Jim Bianco was on Bloomberg TV discussing inflation, the markets and housing yesterday. To view the interview click on the picture above. To view any of our recent interviews click here. The New York Times – Martin Feldstein: How to Stop the Drop in Home Values To halt the fall in house prices, the… Continue reading Housing
In the last week the 30-year Treasury rocketed higher in yield. From a closing low of 2.72% on October 3, long bonds moved up 48 basis points to 3.10% on October 11. Given a modified duration (price move given a 100 basis point move in yield) of over 18 percent for the 30-year, this rise… Continue reading Is The Bond Market Leveraged?
<Click on image to view webcast> Comment On September 16, 2011, Jim Bianco gave a presentation to the Market Technicians Association titled “Understanding the CoT Report”. This presentation detailed our weekly COT Update and how we interpret the data. To view a webcast of this presentation click on the image above. For an audio-only version… Continue reading Understanding The CoT Report
<Click on chart for larger image> The Financial Times – Italian debt premium over Spain leaps Italy’s benchmark borrowing costs on Thursday reached their highest premium over those of Spain in the euro era, in a worrying sign of how investors are more worried about Rome than Madrid. The spread between Italian and Spanish 10-year… Continue reading Italian Spreads On The Rise Again
The Telegraph (UK) – Philip Aldrick: 20 finance ministers gather as time runs out Top of France’s agenda when it took the presidency of the G20 last November was the arcane subject, “reducing imbalances”. Judged against its own goals one year on, then, it is fair to say the French presidency has not been an… Continue reading Europe
<Click on chart for larger image> The Financial Times – China inflation dips to 6.1% in September Inflation in China moderated slightly last month in a sign that government attempts to rein in surging prices are taking effect. The headline consumer price index rose 6.1 per cent in September from a year earlier, down from… Continue reading Chinese Inflation
<Click on graphic for larger image> The Economist – Investing during a crisis: Nowhere to hide Investors have had a dreadful time in the recent past. The immediate future looks pretty rotten, too PITY the world’s savers. Economists and other busybodies chide them for not spending more, thereby stimulating the economy. Meanwhile their pension schemes… Continue reading Crisis Investing