More on FOMC Minutes: Treasurys tumble (TLT -1.1%) and the dollar strengthens (UUP +0.7%) after the surprisingly hawkish report in which it's made clear it's not just Jeff Lacker who has an issue with QE. Gold sells off as well, GLD -1.1%. Stocks give up just a little ground. [View news story]
i smell a relatively large rates spike within the next 2 months
The brilliantly complex models designed by Fed PhDs which failed to foresee the greatest macroeconomic event of our lifetimes continue to guide central bank policy, writes Jon Hilsenrath. Currently the models are giving the thumbs up to ZIRP and massive asset purchases until headline unemployment hits 6.5%. Somewhere Nassim Taleb is banging his head against a wall. [View news story]
Shareholders in Spain's Bankia will be essentially wiped out following the lender's restructuring. The bank - cobbled together in late 2010 from 7 teetering savings banks - went public in July 2011 with an aggressive campaign targeted to get the country's small savers to invest. The price of the stock is off 80% since. [View news story]
may turn out to be true, although i doubt it. hedge funds, reits, private equity, mezz lenders, etc. have been reducing the amount of credit extend on a much larger scale than anyone else. the fed may just merely be printing to keep money supply afloat and prevent a deflationary cycle.
Are Jefferson County and a dozen other U.S. municipalities listening? In Italy, Deutsche Bank (DB), JPMorgan (JPM), and UBS are among the 4 banks fined €1M each and having employees sent to prison for fraud in the sale of derivative products linked to a Milan bond issue. The case could be a precedent-setting one as cases involving other local Italian governments are in the works. [View news story]
it really is amazing to me how you can be angry at the banks. municipalities have ZERO business getting into interest rate swaps and other deriv contracts they don't understand. poor decisions like that are putting people's communities, businesses, and livelihoods in danger, not jamie dimon.
Are Jefferson County and a dozen other U.S. municipalities listening? In Italy, Deutsche Bank (DB), JPMorgan (JPM), and UBS are among the 4 banks fined €1M each and having employees sent to prison for fraud in the sale of derivative products linked to a Milan bond issue. The case could be a precedent-setting one as cases involving other local Italian governments are in the works. [View news story]
ridiculous. banks repremanded for local gov't inept financing practices.
Allan Meltzer questions how the Fed is ever going to be able to withdraw its extraordinary stimulus. Selling bonds to MBS to money funds? It's a "smokescreen," Former Fed man Larry Meyer disagrees: "They have a plan." Mike Tyson chimes in: "Everybody has a plan until they get punched in the face." [View news story]
Draghi press conference: Seeing "downside risks," the ECB cuts its growth forecasts across the board. 2012 GDP estimate revised to -0.6% to -0.4%, 2013 -0.9% to -0.3%, 2014 0.2% to 2.2%. [View news story]
More on ADP jobs: Now included with the reports are the insights of Mark Zandi, and he blames Sandy for "slicing" 86K from payrolls. By this calculation, November would have seen a gain of 204K vs. October's 157K. Economy fixed. [View news story]
Post-election, small business owners turn their most pessimistic since Q3 2010, according to the Wells Fargo Small Business Index. The gauge dove 28 points to -11 in a survey conducted Nov. 12-16. "This is an eye-opening drop in optimism," says Wells' Marc Bernstein. [View news story]
no, we just placed our faith in the hands of americans. karl rove is a joke and so is fox. just because i believe in capitalism and that life isn't fair doesn't make me an o'reilly cheerleader.
Post-election, small business owners turn their most pessimistic since Q3 2010, according to the Wells Fargo Small Business Index. The gauge dove 28 points to -11 in a survey conducted Nov. 12-16. "This is an eye-opening drop in optimism," says Wells' Marc Bernstein. [View news story]
More on FOMC Minutes: Treasurys tumble (TLT -1.1%) and the dollar strengthens (UUP +0.7%) after the surprisingly hawkish report in which it's made clear it's not just Jeff Lacker who has an issue with QE. Gold sells off as well, GLD -1.1%. Stocks give up just a little ground. [View news story]
The brilliantly complex models designed by Fed PhDs which failed to foresee the greatest macroeconomic event of our lifetimes continue to guide central bank policy, writes Jon Hilsenrath. Currently the models are giving the thumbs up to ZIRP and massive asset purchases until headline unemployment hits 6.5%. Somewhere Nassim Taleb is banging his head against a wall. [View news story]
Shareholders in Spain's Bankia will be essentially wiped out following the lender's restructuring. The bank - cobbled together in late 2010 from 7 teetering savings banks - went public in July 2011 with an aggressive campaign targeted to get the country's small savers to invest. The price of the stock is off 80% since. [View news story]
the western financial system is in shambles.
The Treasury sells $14B in (reopened) five-year TIPS at -1.496%. Bid-to-cover ratio of 2.7; indirect bidders take 49%. Direct bidders take 10.7%. [View news story]
Silver To Gain 29% In 2013 Say Analysts, Traders And Investors [View article]
Silver To Gain 29% In 2013 Say Analysts, Traders And Investors [View article]
The Treasury sells $14B in (reopened) five-year TIPS at -1.496%. Bid-to-cover ratio of 2.7; indirect bidders take 49%. Direct bidders take 10.7%. [View news story]
Are Jefferson County and a dozen other U.S. municipalities listening? In Italy, Deutsche Bank (DB), JPMorgan (JPM), and UBS are among the 4 banks fined €1M each and having employees sent to prison for fraud in the sale of derivative products linked to a Milan bond issue. The case could be a precedent-setting one as cases involving other local Italian governments are in the works. [View news story]
Are Jefferson County and a dozen other U.S. municipalities listening? In Italy, Deutsche Bank (DB), JPMorgan (JPM), and UBS are among the 4 banks fined €1M each and having employees sent to prison for fraud in the sale of derivative products linked to a Milan bond issue. The case could be a precedent-setting one as cases involving other local Italian governments are in the works. [View news story]
Allan Meltzer questions how the Fed is ever going to be able to withdraw its extraordinary stimulus. Selling bonds to MBS to money funds? It's a "smokescreen," Former Fed man Larry Meyer disagrees: "They have a plan." Mike Tyson chimes in: "Everybody has a plan until they get punched in the face." [View news story]
Draghi press conference: Seeing "downside risks," the ECB cuts its growth forecasts across the board. 2012 GDP estimate revised to -0.6% to -0.4%, 2013 -0.9% to -0.3%, 2014 0.2% to 2.2%. [View news story]
More on ADP jobs: Now included with the reports are the insights of Mark Zandi, and he blames Sandy for "slicing" 86K from payrolls. By this calculation, November would have seen a gain of 204K vs. October's 157K. Economy fixed. [View news story]
The Fed Is Not Monetizing U.S. Government Debt [View article]
http://bloom.bg/WGG00S
Post-election, small business owners turn their most pessimistic since Q3 2010, according to the Wells Fargo Small Business Index. The gauge dove 28 points to -11 in a survey conducted Nov. 12-16. "This is an eye-opening drop in optimism," says Wells' Marc Bernstein. [View news story]
Post-election, small business owners turn their most pessimistic since Q3 2010, according to the Wells Fargo Small Business Index. The gauge dove 28 points to -11 in a survey conducted Nov. 12-16. "This is an eye-opening drop in optimism," says Wells' Marc Bernstein. [View news story]