Good day. And a Happy Friday to one and all! It’s Good Friday for those of us that observe it that way. Good Friday for the markets means that the stock jockeys have headed to the Hamptons already, and the bond boys and girls will close up shop early today, so they can get a head start on getting out of town, too.
[Read more...]Astounding Facts About Fed Treasury Purchases
April 5, 2012 By Leave a Comment
The risk assets are still getting taken to the woodshed this morning, and once again, even stocks are getting sold. So there’s nowhere to hide these days from the dollar. Even Treasuries aren’t seeing a steady flow to them these days. So David Freese isn’t the only one swinging a big stick these days; the dollar has one, too!
[Read more...]Fed Gives Parameters for Additional Stimulus
April 4, 2012 By Leave a Comment
Good day. Boy, did I ever “hit the wall” yesterday! I got home and collapsed in my recliner, and immediately fell asleep. It had been a whirlwind three weeks, and then I “hit the wall.” It looks as if the risk assets have “hit the wall” too yesterday afternoon, which has carried through to the overnight markets.
[Read more...]German Business Confidence Hits Seven-Month High!
February 23, 2012 By Leave a Comment
The markets seem to be pushing the euro (EUR) past 1.33, this morning. And with the euro trading in a higher handle this morning, the rest of the currencies are reacting favorably. So the dollar is being chased to the woodshed.
[Read more...]The Risk-On Rally Continues
December 1, 2011 By Leave a Comment
Front and center this morning, Chris told you all about the new lines and lower borrowing rates that six central banks from around the world, have coordinated. And he told you that the markets liked the move… And the markets continued to like the move all day yesterday, overnight and this morning… But, does this sound like something that can outweigh the debt problems of the Eurozone? To me… The simple answer is no… The longer version of the answer is…
[Read more...]Will The ECB Be More Like The Fed?
November 18, 2011 By Leave a Comment
Well… We saw another “take-down” of gold yesterday… It’s shameful to watch this going on… And while it was happening, I decided to take down some notes, so that I didn’t forget them front and center, this morning…
OK… Ever wonder why I’m so confused as to why gold goes down when it should be going up?
[Read more...]Risk Aversion Creeps Back into the Streets
September 30, 2011 By Leave a Comment
It’s not so Fantastico for the currencies this morning… Except the dollar, and Chinese renminbi (CNY), and I can’t forget gold! Yes, the price of gold is higher this morning by $14, moving it deeper through the $1,600 handle. So… What’s the skinny, Chuck?
[Read more...]Money Market Funds No Longer the World’s Safest Investments
June 29, 2011 By Leave a Comment
“The world is full of banana peels, that goes without saying,” the insightful financial writer, James Grant, observed last week. “The difference today, across a range of markets, is you’re not getting compensated for the risks you face.”
Without knowing the context of Grant’s observation, most investors might imagine he was referring first and foremost to the stock market. But he wasn’t. He was referring to money-market mutual funds, or what most folks consider “cash.”
[Read more...]
US Retail Sales Send Risk Assets Higher
Good day. In keeping with the tradition I set many years ago on Tax Day:
“If you drive a car, I’ll tax the street,
[Read more...]If you try to sit, I’ll tax your seat.
If you get too cold, I’ll tax the heat,
If you take a walk, I’ll tax your feet…
Cause I’m the taxman, yeah, I’m the taxman…”