Global Market Commentary, Analysis and Investments
As most people with access to a TV — living under a rock and otherwise — are aware, US debt was downgraded by Standard & Poor’s late Friday night from AAA to AA+.
Since the US credit rating downgrade the Chinese yuan is flirting with 17-year highs.
[Read more...]Now, as anticipated, a debt ceiling agreement has been reached and the wait is on to see whether the major rating agencies — Standard & Poor’s, Moody’s Investors Service, and Fitch Ratings — will reaffirm or downgrade the US’ triple-A status.
[Read more...]In at least half the instances when asked, your editor’s friends and family forget whether he’s been in Sweden or Switzerland over the past couple of years. Something about the “sw”-starting sound… and, well, perhaps blond locals. That said, investors retreating from the many perils of the quantitatively-eased US dollar and the GIIPSed-out euro should avoid the same mistake.
[Read more...]There was BIG news from the Eurozone yesterday afternoon, so let’s get right to it, and discuss the ramifications… And don’t forget that the Bank of England (BOE) and The European Central Bank (ECB) are both meeting this morning… It’s time to put up or shut up for the ECB, and their president, Trichet…
[Read more...]Today has seen a return to risk aversion, after watching the currencies have their way with the dollar, yen (JPY), franc (CHF), and Treasuries on Friday. Remember on Friday when I told you that in the “old days? you could bet a dollar to a Krispy Kreme that if the Jobs Jamboree was bad, the dollar would get sold, and if it was good, the dollar would rally, but that had changed during the financial meltdown… And so it was on Friday… The labor report wasn't as bad as it was thought to be, but the dollar got sold.
[Read more...]The Renaissance. The Age of Enlightenment. The Industrial Revolution. The Gilded Age. The Cold War. The Information Age.
The Bailout Age?
The printing press already has its own prominent place in history, so were not sure what else to call the first couple decades of the new millennium. But after this mornings news, theres little debate: time to fire it up!
[Read more...]Today, some 18,000 Greeks took to the streets in intense and violent protest against the new austerity measures recently launched. Greece, to lock in EU and IMF support, has instituted measures including reduced salaries for public workers, pension freezes, and increased sales tax.
Bloomberg reports that despite the presence of about 1,700 police officers, a fire started at Marfin Egnatia Bank SA spread quickly and tragically resulted in three deaths.
[Read more...]Today marks 1-week since Ive been back writing the Pfennig… I simply love writing the Pfennig each day, and boy did I miss it when I was unable to write. Vacation is one thing, those are well-deserved breaks, but to not be able to write is another. So… Im thankful that Im able to write again…
[Read more...]Copyright © 2012 · Church Theme on Genesis Framework · WordPress · Log in
Talk of a Greek Exit Gets Louder
The dollar is moving onward and upward this morning, as the two-day calm in the currencies was lifted overnight, and the dollar is swinging its mighty hammer once again. The euro (EUR) has slipped to its lowest level since August 2010, and we all know that when the euro is taking its turn on the slippery slope, the rest of the currencies are following, and that’s true this morning.
[Read more...]