Global Market Commentary, Analysis and Investments
“I’m a little Ron Paulish,” declared bond king Bill Gross to CNBC.
Recall from yesterday’s 5 that in his monthly letter, Gross groused that near-zero interest rates would hamstring developed economies and even “give a rise to commodities and gold as store of value alternatives when there is little value left in paper.”
[Read more...]I had to laugh yesterday when the New York traders came in and didn’t sell the currencies right away… I said to myself, “Self, maybe the ‘big boys’ read the Pfennig and now know that I’ve uncovered their ‘game,’ so they have to lay low for a while!” HA! Whatever the case, the currencies held their gains most of the day, and even added on in some cases.
[Read more...]Stocks are up today. The major indexes have jumped 1%… for no obvious reason.
There’s talk of a halo effect from the pending IPO of Facebook, which could file the paperwork as early as today.
Oy… Talk about “riding on a smile and a shoeshine,” to borrow from Death of a Salesman.
[Read more...]I have to tell you what’s on my mind this morning after watching the price action again yesterday… I know, it’s just me, and no one else in the writing/analyst world will tell you this, because they have no proof… I don’t either, but that never stops me from saying what’s on my mind regarding these markets now, does it?
[Read more...]The currency rally that stalled yesterday was back on last night… I have to tell you that I was up most of the night on Sunday and after getting poked and stuck at the doctor’s office yesterday, I went home, straight to my recliner and slept for the next five hours! Then I woke up, went to my computer and checked the overnight markets, and I saw the currencies had turned around, along with gold. So naturally, I began to scour the news to see what was going on.
[Read more...]U.S. taxpayers have lost $133 billion from TARP — the abominable acronym inflicted on us by former Treasury Secretary Hank Paulson — a new report out this morning shows.
We begin another week pulled in two directions: In one direction lie unresolved failures in policy… and the mayhem it has wrought in the financial system. In the other lie breakthroughs in energy and biotechnology.
[Read more...]Here we are… The last couple of days of January… So the first month of 2012 is just about over, and already, we’ve heard the Fed push their rate forecast for near zero rates out further, and the Fed laying the groundwork for another round of QE… But… When we began the month/year, everyone was pounding their chests, and talking about what a great year 2012 would be (economic-wise)… Talk about deflating the balloon in the first month of the year!
[Read more...]The Greek talks returned to the headlines this morning. I know I said this last Friday, and I was a little too optimistic and turned out to be wrong! But… I do expect this agreement on a private-sector involvement in Greek debt to get hammered out this weekend… It seems that the opposition from eurozone policymakers is backing off, and that has me optimistic once again.
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Currencies Hold Ground Ahead of Jobs Jamboree
This morning, the currencies look pretty much like they did yesterday when I left the office… There’s still the Sword of Damocles hanging over the euro (EUR), in the form of Greek negotiations to obtain help from private lenders. This has dragged on now for over two weeks, and I’ve given up on it happening… You only have to disappoint me twice before I get the message!
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