<Click on chart for larger image> Bloomberg.com – Home Prices Probably Fell, Baring Weak Link in Accelerating U.S. RecoveryHome prices probably dropped in October, a sign housing will remain a weak link as the U.S. recovery accelerates into the new year, economists said before reports this week. Property values in 20 cities were down 0.2… Continue reading Home Prices
The Wall Street Journal – China Says It Can Subdue Prices Premier Wen Addresses Concerns on Economy After Central Bank Raises Rates a Quarter Point to Contain Inflation Chinese Premier Wen Jiabao voiced confidence Sunday that his government can contain rising prices, seeking to reassure the public about inflation a day after the central bank… Continue reading China’s Inflation Problem
Reuters – World economy can withstand $100 oil price: Kuwait The global economy can withstand an oil price of $100 a barrel, Kuwait’s oil minister said on Saturday, as other exporters indicated OPEC may decide against increasing output through 2011 as the market was well supplied. Analysts have said oil producing countries are likely to… Continue reading Gas Prices
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<Click on chart for larger image> The Telegraph (UK) – Record spike in EMU default risk on Portugal downgrade and Greek restructuring scare The cost of default insurance on eurozone bonds has surged to an all-time high on reports that Greece is preparing the way for a sovereign debt restructuring after 2013, with tacit support… Continue reading More European Downgrades
The Wall Street Journal – Pensions Push Taxes Higher Cities Tap Homeowners for Revenue as Workers’ Retirement, Health Costs Rise Cities across the nation are raising property taxes, largely citing rising pension and health-care costs for their employees and retirees. In Pennsylvania, the township of Upper Moreland is bumping up property taxes for residents by… Continue reading Municipal Finances
The Economist – Buttonwood: Squaring the triangle The rise in bond yields does not solve a long-running dilemma THROUGHOUT 2010 financial markets have reflected a strange confluence of views. Government-bond yields have been low (outside peripheral Europe), indicating that investors are expecting low inflation and slow economic growth. But gold, an inflation hedge, has risen… Continue reading Rising Bond Yields
The Globe & Mail (Canada) – Pain at the pumps: Companies brace for $100-a-barrel oil Crude oil markets are going out of 2010 like a lion – hitting two-year highs and raising predictions that prices will soon top $100 (U.S.) a barrel. For motorists and businesses such as airlines and trucking firms, the surge in… Continue reading Gas Prices
The Economist – The World’s biggest economy: Dating game When will China overtake America? The Economist has created an online chart (www.economist.com/chinavusa) that allows you to plug in your own assumptions about future growth, inflation and the exchange rate. Our best guess is that annual real GDP growth over the next decade averages 7.75% in… Continue reading When Will China Surpass The U.S.?
Zero Hedge (blog) – After Nearly Two Years Of Searching, TrimTabs Still Can’t Figure Out Who Is Buying Stocks Update: Charles has just sent in the following addendum to his CNBC appearance: Due to time constraints, what I didn’t get to address on CNBC today is what will happen after the Fed is either successful… Continue reading Charles Biderman Speaks
The Economist – Government debt: Behold 2011, the year of sovereign shocks Get ready for more volatility in government bonds IF YOU want to know what to worry about in 2011, here’s a place to start. Sovereign-bond yields are rising—not just in beleaguered economies on the edge of the euro zone, but across much of… Continue reading Government Debt In 2011
Bloomberg.com – Bloomberg Sues ECB to Force Disclosure of Greece Swaps Bloomberg News filed a lawsuit against the European Central Bank, seeking the disclosure of documents showing how Greece used derivatives to hide its fiscal deficit and helped trigger the region’s sovereign debt crisis. The lawsuit asks the European Union’s General Court in Luxembourg to… Continue reading Bloomberg Now Sues The ECB