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September 17, 2010
Inflation Watch Update The attached tables update inflation rates through August 2010. We also update last month’s comments on OER.
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August 11, 2010
Conference Call Presentation/Charts of the Week Topics Covered This Week Include: QE 1A The Federal Reserve’s Holdings Of Government Securities Big Owners Of Government Securities Should We Worry About Deflation? Owners’ Equivalent Rent: An Update Economic Indicators That Lead vs. Coincident ECRI – Slowdown or Double Dip? Economic Indicators That Lead Do Stocks Predict Recessions?… Continue reading
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July 28, 2010
Charts of the Week Topics Covered This Week Include: Bank Funding – The Next Issue For European Banks Gulf of Mexico Rigs Continue To Plummet Global Petroleum Inventories Case Shiller Update OER Opens A Window On A Societal Change Owners’ Equivalent Rent: An Update The Deficit Foreigners Purchase $910 Billion Of U.S. Assets In Past… Continue reading Untitled
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July 16, 2010
Commitments of Traders Update/Analysis Statistics cover the CoT report for July 13, 2010. Further charts and comments include: Eurodollar Futures: There Is Good Resistance At 100 Yen Futures: What Is The Toughest Trade? Corn Futures: Buy In July And...
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July 16, 2010
U.S. Treasury’s International Capital Statistics Update Tables and comments detailing foreign investment through May 31, 2010 with data released on July 16, 2010. Foreign net purchases of U.S. Treasury securities still outweigh purchases of all...
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July 7, 2010
Charts of the Week Topics Covered This Week Include: Is The Crowd Too Bearish? S&P 500 Drawdown Are U.S. Stocks Wildly Undervalued Given Earnings Estimates? Revisiting Size-Dependent Value And Growth Relative Valuations Revisiting S&P 500 & 3-Mth Treasury Bill Comparative Returns Equities Still Correlated Positively To Higher Short-Term Yields Measuring Gold’s Decline Manufacturing Jobs –… Continue...
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June 30, 2010
The Upside Bias Of Quadruple Witching Remains In The Flash-Crash World Audio (1:12) The upside bias of quadruple-witching expirations continues.
ECRI Weekly Leading Index Growth Rate Falls Again
June 28, 2010
On Friday the ECRI reported a -6.9% annualized growth rate for its Weekly Leading Index (WLI) in the week ending June 18, 2010. As this marks the third week in a row of a declining growth rate, the index is garnering much attention. <Click on...
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May 24, 2010
Europe Has Short-Circuited Default/Devaluation Adjustment Mechanisms Audio Stresses within the European Monetary Union will be absorbed by steeper coupon yield curves at higher rates than would exist otherwise.
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May 19, 2010
Inflation Watch Update The attached tables update inflation rates through April 2010. We also update our comments on OER as we believe it remains the dominant inflation story.
Heavy Volume Continues To Suggest This Correction Is Important
May 11, 2010
Late last month we noted that stock volume was soaring. We said: Since April 7 the S&P 500 is nearly unchanged. An uptick in volume in a market that moved from a strong uptrend to no trend is what technicians call a “distribution...
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May 3, 2010
Goldman, Greece And Government Audio link to conference call Webcast A transcript of the April 29, 2010 conference call.