Comment Yesterday Jim Bianco was on CNBC discussing the markets heading into 2011. To view the interview click on the picture above. To view any of our recent interviews click here. In the interview, Jim mentioned that corporate cash levels at nearly $2 trillion is not that far out of line with its historical average… Continue reading Looking Into 2011, Everyone Is Bullish On Stocks
Boomberg.com – Joe Mysak: Meredith Whitney Overreaches in Muni Default Call There will be between 50 and 100 “significant” municipal bond defaults in 2011, totaling “hundreds of billions” of dollars. So said banking analyst and new municipal bond expert Meredith Whitney on the “60 Minutes” show on Sunday, in perhaps the boldest, most overreaching call… Continue reading Meredith Whitney Defends Her Call
The Financial Times – Eurozone can learn grim Latin lessons Taxpayers, investors and policymakers are nervously pondering the future of the eurozone given the over-indebtedness of several of its economies, such as Greece and Ireland. Their worries are augmented by the fact there is no road map for how the crisis might pan out. Yet… Continue reading Europe
<Click on chart for larger image> The Financial Times – China extends help to tackle euro crisis China has promised to take further “concerted action” to support European financial stabilisation, including continuing to buy the bonds of countries at the centre of the sovereign debt crisis, according to senior European officials. The officials, who declined… Continue reading China Wants To Help Europe
Asia Times – The crisis that knows no end In sum, Wall Street bankers have learned very little, possibly nothing, since the onset of the crisis. The only lesson they have learned is the wrong one; namely, that banks can get their way in Washington no matter how egregious their practices, as long as they… Continue reading When Will This Crisis End?
The Wall Street Journal – Pained Muni Investors Cry Uncle Munis are wobbling as Uncle Sam’s aid looks set to come to an end. Will Uncle Ben step into the breach? One whisper is that, in the unlikely event Federal Reserve Chairman Ben Bernanke were to decide next year on yet another round of quantitative… Continue reading Will Bernanke Help Munis?
Reuters.com – Government liabilities rose $2 trillion in FY 2010: Treasury The U.S. government fell deeper into the red in fiscal 2010 with net liabilities swelling more than $2 trillion as commitments on government debt and federal benefits rose, a U.S. Treasury report showed on Tuesday. The Financial Report of the United States, which applies… Continue reading U.S. Government Liabilities Increase $2 trillion
Bloomberg.com – Hedge Fund Will Track Twitter to Predict Stock Moves Derwent Capital Markets, a family- owned hedge fund, will offer investors the chance to use Twitter Inc. posts to gauge the mood of the stockmarket, said co-owner Paul Hawtin. The Derwent Absolute Return Fund Ltd., set to start trading in February with an initial… Continue reading Hedge Fund Uses Twitter To Predict The Stock Market
Time Magazine – What Is The Definition of Austerity? Merriam-Webster’s most searched word in 2010. The word, which seems to have been in every story about the world’s troubled economies this year, became the reference publisher’s most looked-up word thanks to the policies of euro zone countries following the European Union debt crises, which forced… Continue reading Austerity: Merriam-Webster’s Word Of The Year
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Comment Yesterday Jim Bianco discussed the state of QE2 heading into 2011. To view the interview click on the picture above. To view any of our recent interviews click here. Bloomberg.com – Caroline Baum: Bond Market Rejects Fed’s Unconditional Love How’s that QE2 working out for you? To answer the question, we first have to… Continue reading QE2
The Wall Street Journal – Banks Look to Profit on Muni-Bond Fears Some of the world’s biggest banks are lining up to profit from worries about the declining finances of U.S. cities and states. For the first time in two years, Switzerland’s UBS AG has begun making markets in derivatives tied to municipal bonds and… Continue reading Buying The Muni Selloff That Has Not Happened