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In Other “Stories Of The Year” – European Debt Crisis Summit Disappoints

March 18, 2011

The Economist – Muddle, fuddle, toil and trouble A BARGAIN, but not a grand one. Euro-zone leaders surprised many on March 12th by agreeing on the main elements of a deal to salve Europe’s sovereign-debt crisis. With negotiations becoming fractious and markets unnerved by further ratings downgrades on Greek and Spanish debt, there had been… Continue reading In Other “Stories Of The Year” – European Debt Crisis Summit Disappoints

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It’s A Macro World

March 18, 2011

The Wall Street Journal – ‘Macro’ Traders Ride Yen’s Volatility As financial markets struggle to digest the catastrophic effects of Japan’s earthquake, growing violence in the Middle East and resulting jolts to global economies, traders like John Brynjolfsson and Samer Nsouli are engaged in a furious fight to try to stay ahead of events. Wednesday… Continue reading It’s A Macro World

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In Other “Stories Of The Year” – Bahrain and Yemen

March 18, 2011

The Financial Times – Bahrain moves to quash opposition Shia government officials resign in protest against state’s heavy hand Bahrain’s security forces have continued their attempts to break the back of the island kingdom’s mainly Shia opposition movement with a series of arrests and more attacks on Shia villages outside the capital. Clashes between protesters… Continue reading In Other “Stories Of The Year” – Bahrain and Yemen

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Analyzing PIMCO’s No Treasury Position

March 18, 2011

The Economist – The old Bill Stopping quantitative easing may be harder than starting it| BILL GROSS is the most famous and experienced bond-fund manager in the world. So when he says PIMCO’s Total Return, the $237 billion fund which he manages, is avoiding Treasury bonds, investors should take notice. Mr Gross is particularly worried… Continue reading Analyzing PIMCO’s No Treasury Position

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Newsclips

Another Tech Bubble?

March 18, 2011

USA Today – Is a new tech bubble starting to grow? What’s a dot-com worth? Investors got it badly wrong when they pushed Internet stocks to nose-bleed levels in 2000, only to lose billions when the companies mostly went bust. It’s 2011, and here we go again. There may not be sock puppets and Super… Continue reading Another Tech Bubble?

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Getting Out Of Tokyo

March 18, 2011

The New York Times – Crisis Prompts Exodus of Executives From Tokyo The crisis at the nuclear power plant 140 miles north of here is leading to a steady but orderly departure of business executives from Tokyo. Foreigners in particular are among those leaving, as concerns grow about the possibility of a catastrophic release of… Continue reading Getting Out Of Tokyo

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Fining Economists For Bad Calls

March 18, 2011

Bloomberg.com – Fining Economists $125,000 Drives Up Yields Argentina’s inflation-linked debt is posting its biggest two-month decline since 2008 as the government fines private researchers who say consumer prices are increasing at more than twice the official rate. Graciela Bevacqua, who was fired in 2007 as head of the consumer price index division at the… Continue reading Fining Economists For Bad Calls

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Cartoons

March 18, 2011

None Today

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Newsclips

Will Today Be Remembered As The Day The Yen Carry Trade Died?

March 17, 2011

Zero Hedge (Blog) – The Day The Yen Carry Trade Died While everyone is staring in disbelief at the USDJPY, the real carry action is in the high yielding-YEN pairs, i.e., the development, high growing countries. And it’s a massacre: ZARJPY, NZDJPY, AUDJPY – all are plunging far more than the USD. This is nothing… Continue reading Will Today Be Remembered As The Day The Yen Carry Trade Died?

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Japanese CDS Soars

March 17, 2011

<Click on chart for larger image> Bloomberg.com – Japan Government Bond Risk Rises to Record Amid Fukushima Reactor Crisis The cost of insuring Japanese sovereign debt with credit-default swaps jumped to a record after a U.S. official said a crippled nuclear plant at Fukushima is releasing “extremely high” levels of radiation…All the water in one… Continue reading Japanese CDS Soars

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Why Didn’t The FOMC Mention Japan?

March 17, 2011

Bloomberg.com – Mohamed El-Erian: Japan Disaster Looms Over Global Economy In its usual concise manner, the FOMC informed us this week that America’s economic recovery “is on a firmer footing” and that inflation is facing “upward pressure.” The hope is that the former will prove durable and that the latter will be transitory though neither… Continue reading Why Didn’t The FOMC Mention Japan?

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Why The Markets Panicked Yesterday

March 17, 2011

The Wall Street Journal – U.S. Sounds Alarm on Radiation Fear about radiation dangers posed by Japan’s nuclear crisis spiked as the U.S. instructed its troops and citizens to stay at least 50 miles away from the crippled reactors—establishing a “no-go” zone far wider than the buffer recommended by the Japanese government itself. And in… Continue reading Why The Markets Panicked Yesterday