Twitter- Pimco Tweet October 2, 2011 Gross: Global financial mkt delevering appears unstoppable. Hedge funds, banks, investment mgrs all reducing risk for fear of mini-Lehman. Comment This follows on Bill Gross’ tweet on Wednesday, September 28: Gross: Financial markets delevering at a rapid rate – levered investors facing margin calls Pimco – Bill Gross: Six… Continue reading So What Is Bill Gross Trying To Say?
The Financial Times – Strikes hamper Greek rescue Wildcat strikes in Greece have prevented the country’s bureaucrats from finalising next year’s vital budget figures, potentially holding up this month’s release of sorely needed fiscal aid and capping an ignominious quarter for global markets. Despite a tentative improvement in sentiment over the past week, mounting fears… Continue reading Greece Is Still A Mess
<Click on chart for larger image> Zero Hedge (blog) – ECB Deposit Facility Usage Soars To 2011 High Just when you thought the latest round of liquidity improvement rumors out of the ECB (such as the resumption of a 12 month refinancing operation from last week) would buy the European financial system some time (not… Continue reading Still Afraid Of European Banks
France 24 – Germany ‘won’t give more to EU bail-out fund’ German Finance Minister Wolfgang Schaeuble ruled out Germany contributing any more money to the beefed-up EU bail-out fund than the 211 billion euros approved by parliament, in an interview published Saturday. “The European Financial Stability Facility has a ceiling of 440 billion euros ($590… Continue reading Germany Has Had Enough
<Click on chart for larger image> <Click on chart for larger image> Barron’s – RANDALL W. FORSYTH: A Dire Forecast From the Markets The credit markets think the U.S. economy is headed back into recession. So does the copper market. And they’re backed up by the indicator that’s called the last three recessions. High-yield bonds… Continue reading What The Markets Are Telling Us
The Wall Street Journal – Investors Sing a New Tune—’Won’t Get Fooled Again’ Now is not the time to let yourself be suckered into getting back into stocks. Sure, the markets had a couple of spectacular days last week, but don’t let that fool you into thinking all is well again with the world. It’s… Continue reading Retail Hates Stocks
Barron’s – Michael Santoli: Here’s to Simpler Times The “stocks are cheap” argument generally relies on the achievability of current and rooted-for company earnings, and the comparison of stocks to other things universally declared expensive, such as Treasuries and high-grade bonds. We’ve all seen the studies of the dozens of big stocks yielding more than… Continue reading What Will Happen With Earnings?
The Financial Times – Lex: Eurozone fortunes Win some, lose some. By the standards of the eurozone crisis, the past seven days constituted a good week. Following the whites-of-their-eyes meeting of international finance ministers in Washington, Germany agreed to give the region’s €440bn bail-out fund more powers. Even better, recalcitrant Slovakia is looking more likely… Continue reading The Eurozone
<Click on chart for larger image> The Financial Times – Henny Sender: World has turned to US dollar by default Meeting at a Pictet alternative investment conference in Zurich this week, some of the world’s smartest hedge fund managers agreed that at some point soon the euro may slide to parity with the US dollar.… Continue reading Is The Dollar The King Of The World (Again)?
Barron’s – Still Loaded for Bear in the North Country An interview with Steve Leuthold and Doug Ramsey of Leuthold Weeden Capital Managment What’s that they say about time flying when you’re having fun? After a half-century in the investment management business, one of the preeminent practitioners of the trade, Steve Leuthold, is relinquishing his… Continue reading Leuthold Speaks
The Financial Times – Market nerves hit Morgan Stanley Morgan Stanley’s stock fell more than 10 per cent and the price of credit insurance on its debt rose to the highest level since early 2009 as nervousness around the bank caused some hedge fund clients to reduce their exposure, people familiar with the matter said.… Continue reading Financials Under Pressure
Bloomberg.com – Buffett Says Europe’s Banks Shouldn’t Look to Berkshire for Help Berkshire Hathaway Inc.’s Warren Buffett, who has sold most of his company’s holdings of European sovereign debt, said his firm isn’t interested in helping to bail out lenders on the continent. “They need capital in their banks, in many of their banks,” Buffett,… Continue reading Buffett Says European Banks Have Called And He’s Not Interested