The New York Post – Charles Gasaprino: Roubini’s doom is in his predictions Here’s an interesting question: If Nouriel Roubini is so prescient, if he really did predict the housing bubble and the financial crisis as the mainstream media claims, why is he basically ignored by so many sophisticated investors? Maybe it’s because many of… Continue reading Roubini
The Wall Street Journal – Courts Add To Foreclosure Delay Process is Slow in 23 States Where Judges Handle Default Cases The recent suspensions of foreclosures by four major companies that service mortgages compound a problem that had existed for years in states where foreclosures are handled by the courts. In the 23 states in… Continue reading Foreclosures
Aol Travel – First Look at Queen Elizabeth Liner A cruise on Cunard is about tradition. The 170-year-old ship line is smart enough to know that, so for its newest ship, Queen Elizabeth, it’s gone for a retro flashback. AOL Travel News was among the first to see the ship, even before its official launch… Continue reading The Queen Beats The Federal Reserve And Announces QE3
The Wall Street Journal – Two Roads Diverge on a Bond With 10-Year Yield Near a Record Low, Some See a Peak. Others Beg to Differ. The Treasury bulls are parting ways. After a months-long surge that has seen the yield on the 10-year Treasury note plummet to near-record lows, some notable Treasury fans—like Goldman… Continue reading Bond Bulls v Bears
The Financial Times – Lex: Stock recommendations Buy? Sell? When in doubt, do nothing. Wherever you look – the US, the UK, Germany, Hong Kong or Japan – the proportion of “holds” among analysts’ stock recommendations has never been higher. Analysts’ propensity to pump up equities has been on a steady decline since the Spitzer… Continue reading Wall Street Stock Recommendations
Bloomberg.com – Junk Yields in Europe Tumble to Lowest Since Before Crisis Lenders to speculative-grade companies in Europe are charging the lowest interest rates since before credit markets seized up in a sign they don’t expect the region’s fiscal crisis to infect corporate debt. Investors demand an average yield of 7.62 percent to hold junk-rated… Continue reading Junk Bonds
Barron’s – A Golden Era for the Yellow Metal A bull market during today’s economic uncertainty suggests gold will keep rising in coming years, although at a slower pace than in recent times. Prices could average $1,500 an ounce by 2015. WHITHER THE GOLD PRICE? That all depends on another question: Whither the global economy?… Continue reading Gold
The New York Post – Terry Keenan: The Federal Reserve Board has lost its mystery Yes, James Bullard, the telegenic fortysomething voting member of the FOMC, spent three hours on television reacting to every piece of news thrown at him by the CNBC gang, including the much-anticipated September employment report. What’s next, a stint hawking… Continue reading More On Bullard
The Wall Street Journal – Signing Bonuses Haunt Wall Street Some Deals Made in the Heat of the Financial Crisis Haven’t Paid Off; Finra Arbitration in Demand Securities firms dangled big bucks to lure thousands of brokers away from rival companies during the past two years. Now those signing bonuses are causing an epidemic of… Continue reading Overpaying Brokers
None Today
<Click on chart for larger image> Calculated Risk (blog) – September Employment Report: 18K Jobs Lost ex-Census, 9.6% Unemployment Rate From the BLS: Nonfarm payroll employment edged down (-95,000) in September, and the unemployment rate was unchanged at 9.6 percent, the U.S. Bureau of Labor Statistics reported today. Government employment declined (-159,000), reflecting both a… Continue reading Payrolls
Bloomberg – Bullard Sees No `Obvious’ Case for More Stimulus as Risks Ease The chance of a renewed U.S. recession has receded and there may not be a strong enough case for additional stimulus, Federal Reserve Bank of St. Louis President James Bullard said. “The risk of double-dip recession has probably receded some in the… Continue reading Is QE In Doubt?