Newsclips
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October 8, 2010
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Bloomberg.com – Jim Bianco Says U.S. Dollar Is `Destined to Go Down’ Jim Bianco, president of Bianco Research LLC, talks about the outlook for the U.S. dollar. Bianco also discusses Federal Reserve monetary policy, U.S. stocks and corporate earnings. He talks with Matt Miller, Carol Massar, Julie Hyman, Dominic Chu and Adam Johnson on Bloomberg… Continue reading Currency Wars
The Wall Street Journal – Gold Mania? Not Quite How much have ordinary Americans actually invested in gold this year? According to Financial Research Corp., a Boston firm which tracks the data, investors poured $7.4 billion into gold bullion through exchange-traded funds from the start of the year through the end of July. Nearly all… Continue reading Some Perspective On Flows Into The Gold Market
<Click on chart for larger image> Bloomberg.com – California Budget Relies on More Federal Aid, Pension Rollback An agreement to end California longest-ever budget impasse seeks to fill a $19 billion deficit by using higher revenue projections and more money from the federal government than what has been promised. The budget counts on California getting… Continue reading California Fixes Budget Problems By Projecting Higher Revenues And More Government Aid
The Financial Times – The rise and rise of correlation From New York to Hong Kong, investors, dealers, analysts and academics are puzzled. For months, they have been struggling to explain an investment phenomenon that has defined this year’s sharp swings in financial markets. Now they may have an answer. Like fish swimming in shoals,… Continue reading “Risk-On, Risk-Off” Trading Drives Correlations
Zero Hedge (Blog) – One Fed To Monetize Them All A few weeks ago we pointed out that the unfortunate but inevitable conclusion of the Fed’s embarking on the second round of QE would be that the total treasury purchases between $1.2 and $1.5 trillion, and possible more, would require nothing less than direct purchases… Continue reading The Federal Reserve Is On Pace To Buy All Treasury Issuance In 2011
The New York Times – Paul Krugman: The Market Believes in QE2 For the moment at least. Optimism about Fed action has led both to falling long-term interest rates: and a rise in expected inflation: My guess is that the market is expecting more than the Fed will deliver. But I’d be happy to be… Continue reading Is QE2 Already Priced Into The Markets? Paul Krugman Believes So
The Wall Street Journal – The Mutual Fund in the ‘Flash Crash’ In the quest to find the culprit in the May 6 “flash crash,” regulators have pointed the finger at a little-known mutual fund based in a nondescript office park outside Kansas City. But the fund in question—the $27 billion Asset Strategy Fund—is no… Continue reading The Flash Crash
MarketWatch – Roubini: 40% chance of double-dip recession There is a 40% probability of a double-dip recession, but you don’t need one for the global economy to feel like it is in a deep, continuing recession, said Nouriel Roubini, the famous pessimist and economics professor at New York University on Wednesday. He said external shocks,… Continue reading Roubini Puts Odds Of Double Dip At 40%
Bloomberg.com – Whitney Falters in Trying to Repeat Success of Citigroup Call Meredith Whitney, the bank analyst who jumped to celebrity from obscurity by correctly predicting Citigroup Inc.’s dividend cut, is having less success divining stock market winners and losers. Since Whitney founded her own firm last year, about two- thirds of her picks have… Continue reading Has Meredith Whitney Lost Her Golden Touch?
The Financial Times – Alan Greenspan: Fear undermines America’s recovery Although rising moderately this year, US fixed capital investment has fallen far short of the level that history suggests should have occurred given the recent dramatic surge in corporate profitability. Combined with a collapse of long-term illiquid investments by households, they have frustrated economic recovery.… Continue reading Greenspan Offers His Diagnosis Of The U.S.
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