The Wall Street Journal – Dissents Pose New Test for Bernanke Regional Bank Presidents Fisher, Kocherlakota Say Their No Votes Not a Sign of Decisive Break With the Fed Chairman Ben Bernanke’s decision to open the door to easier monetary policy Tuesday marked another watershed moment in his 5½-year odyssey as chairman of the Federal… Continue reading Bernanke’s Dissenters
<Click on chart for larger image> The Wall Street Journal – In Carnage, Cash Comforts Companies have been socking cash away for a rainy day since the financial crisis. Now, it’s pouring—and companies feel prepared. Non-financial companies in the Standard & Poor’s 500-stock index were holding $1.12 trillion in cash and short-term investments in their… Continue reading Cash On The Sidelines
The New York Times – Europe Considers Ban on Short Selling A European market regulator is considering recommending a temporary ban on negative bets against stocks across the continent, in an effort to stop the tailspin in the markets, according to two people with knowledge of government discussions. The European Securities and Markets Authority, a… Continue reading Market Rumors
Conference Call Presentation/Charts of the Week audio webcast Topics Covered This Week Include: Summary/Conclusion What Is The Bigger Issue With The Markets? European Yields The Recession Concept That Is Bothering The Market The Slow Economy The Sovereign Ceiling Sovereign Debt vs. Corporate Debt S&P Downgrades, The Process Begins Funding Markets Breathe A Sign Of Relief… Continue reading Untitled
Comment Jim Bianco was on Bloomberg TV yesterday afternoon discussing the FOMC decision. To view the interview click on the picture above. To view any of our recent interviews click here. The big news is that the Federal Reserve announced they will hold the funds rate at 0% to 0.25% for two years. This was… Continue reading The FOMC Decision…A New Version Of QE
Comment Jim Bianco was on CNBC yesterday afternoon discussing the market rally and the S&P downgrade. To view the interview click on the picture above. To view any of our recent interviews click here. The Wall Street Journal – Rally Masks Real Fears A day after a scary plunge, financial markets got a boost Tuesday… Continue reading Discussing The Stock Market And The S&P Downgrade
Financial Post – David A. Rosenberg: How to prepare for the coming recession Moving increasingly to immunize portfolios from the rising prospect of a recession scenario while providing returns that cash, deposits and T-bills just can’t rival is what we are doing at the investment committee and asset mix level of our firm. Let me… Continue reading Recession Talk
<Click on chart for larger image> The Financial Times – Traders target $2,500 high for bullion Investors and strategists were already targeting a gold price above $1,800 mere hours after the precious metal surged past $1,700 a troy ounce for the first time. Gold touched a new nominal record of $1,716.19 a troy ounce on… Continue reading Gold Reaches New Highs
The Daily Beast – Zachary Karabell: It’s Not the Economy, Stupid! Yesterday’s flash rally, following Monday’s flash crash, demonstrates the truth of today’s markets—they no longer reflect economic reality on the ground Over the past 48 hours, global markets have lived a life cycle, from panic and fear through uncertainty and confusion, and then, finally,… Continue reading Do Stocks Reflect Reality?
cnbc.com – US Closer to ‘Junk Bond’ Status Than Triple-A The US credit rating would be even worse than its recent downgrade from Standard & Poor’s if the nation was judged as a private company, banking analyst Dick Bove told CNBC Tuesday. “You’ve got a company which is losing about $1.4 trillion this year, probably… Continue reading Should The U.S. Credit Rating Be Lowered Again?
<Click on chart for larger image> The Wall Street Journal – Europe Bank Soothes Bond Market—For Now The European Central Bank bought Italian and Spanish government bonds for a second day in a row, stabilizing borrowing costs for both countries and easing concerns for the moment that Europe’s debt crisis will spread to its larger… Continue reading Europe