<Click on chart for larger image> FT Alphaville ( FT Blog) – What next for the yen: ‘A lot of fake movements’ Here’s the latest on Tokyo’s long promised (or should that be, threatened) intervention in the FX markets, as of about 6pm Tokyo time (10am BST). The Bank of Japan is said to have… Continue reading Japan Aims To Devalue The Yen
<Click on chart for larger image> The Big Picture (Blog) – Missing Best & Worst Days of S&P500 There are a few interesting observations about this data set: The 10 best days account for 50% of the buy and hold performance (roughly 0.2% of the days from 1993 to August 2010). Classic “Buy & Hold”… Continue reading Big Daily Moves In Stocks
The Wall Street Journal – Fed Wrestles Over Next Steps The Fed has another meeting Nov. 2 and 3 which could be another important decision point. Fed officials are due to update their own economic forecasts at that time, and an official downgrade to an already disappointing outlook for 2011 could create more pressure to… Continue reading What Can The Federal Reserve Do Next?
Bloomberg.com – Corporate Bond Slump Masks Demand as Yield Spreads Shrink The biggest monthly losses for global corporate bonds this year disguise burgeoning demand for debt sold by companies. While the securities have lost 0.45 percent this month, that’s better than the 1.04 percent drop for government notes around the world. That’s pushed yields to… Continue reading Corporate Bonds
MarketWatch.com – EU targets better disclosure of short selling Regulators will have power to ban short selling in exceptional circumstances The European Commission proposed on Wednesday new rules requiring increased disclosure of short selling and other transactions that have been blamed by some for exacerbating the sharp losses in global markets. The new rules would… Continue reading The EU Wants Tighter Restrictions On Short Selling
<Click on chart for larger image> The Financial Times – Lex: Asset Backed Securities A pick-up in securitisation activity in the past six weeks has revived hopes that efforts to stimulate the market are finally kicking in. Royal Bank of Scotland’s recent £4.7bn mortgage-backed offering follows similar issues backed by Dutch home loans and German… Continue reading Securitization
Bloomberg.com – Pimco Makes $8.1 Billion Bet Against `Lost Decade’ of Deflation Bill Gross’s Pacific Investment Management Co. made an $8.1 billion wager that the U.S. won’t suffer a decade of deflation like the one that crippled Japan starting in the 1990s. That’s the notional value of long-term derivative contracts tied to the U.S. consumer… Continue reading Pimco Bets Against U.S. Deflation
Comment Jim Bianco was on CNBC yesterday discussing the markets. To view the interview click on the picture above. To view any of our interviews click here. <Click on chart for larger image>
September 6, 2010 Time Magazine – The Case Against Homeownership Homeownership has let us down. For generations, Americans believed that owning a home was an axiomatic good. Our political leaders hammered home the point. Herbert Hoover argued that homeownership could “change the very physical, mental and moral fiber of one’s own children.” Franklin Roosevelt held… Continue reading A Tale Of Home Prices Told Through The Cover Pages Of TIME Magazine
<Click on chart for larger image> CSMonitor.com – Are you on food stamps yet? As a logical consequence of the prolonged economic downturn it appears that participation in the federal food stamp program is continuing to rise. In fact, household participation has been climbing so steadily that it has far surpassed the last peak set… Continue reading Use Of Food Stamps On The Rise
The Wall Street Journal – Bank Rules Win Muted Praise In the U.S., the financial-overhaul bill passed by Congress and signed into law by President Obama in July set prescriptive rules to steer U.S. banks away from past errors. The accord hammered out over the past few months in Basel, Switzerland, allows banks around the… Continue reading Basel III