Sample Our Reports, Presentations, & Market Insights
Stock-Treasury Relationship: Revisiting Long-Term Analogs The present situation is so dangerous that both hyperinflation and deflation could result from different policy errors. The present monetary policy may be the correct one.
Comment In the first block above we talk about the huge growth of long-only commodity funds. Why now? We have argued trying to bet on inflation via stocks and TIPS has led to frustration and poor performance. So, investors have done the rational...
Higher Crude Oil Prices Still Not Negative For U.S. Equities. The partial contribution of higher crude oil prices to U.S. equities remains positive; this is because other factors are putting more significant downward pressure on stocks.
Slate.com – Yves Smith: Barrel FeverDoes anyone know how much oil there is in the world?But oil is in a completely different category: It’s a strategic resource bought and sold internationally. Many countries, either by indifference or...
Credit or Inflation, The Fed’s Dilemma June 26, 2008 InCapital Presentation Package.
Petroleum And Credit Markets Audio Link of Conference Call A transcript of the June 12, 2008 conference call.
The Wall Street Journal – Lehman Shuffles 2 Key Jobs In Bid to Restore Confidence Finance Chief Is Demoted; ‘Wall Street Wants a Head’One of the firm’s biggest critics is David Einhorn, the manager of hedge fund Greenlight...
Ethanol, Corn And Food Price Inflation Ethanol distillation margins are negative, but rising fuel prices give gasoline blenders pricing power to compete for increasingly scarce corn supplies.
Comment Making these lending facilities permanent could be viewed as setting up a “permanent easing bias.” This is worrisome unless the Federal Reserve slams the brokers with new regulation, as Michael Lewis explains in the next comment....
Will Home Equity Loans Be The Next Stage In The Credit Crisis? At the heart of the credit crisis is the plunge in home prices. Even though many have proclaimed the crisis over, home prices have continued to plunge. As long as they do, the credit...
The Economist – Buttonwood: Recovery? What recovery? The credit crunch looks far from overOf enduring concern are the monoline insurers, the institutions that agreed to guarantee some classes of debt against default. On June 4th Moody’s,...
Overnight Index Swaps And LIBOR While short-term interest swaps may be moving from LIBOR to the overnight index swap market, spreads have narrowed, not widened, during this shift.