Sen. Chuck Schumer advocates an HFT tax to pay for the added regulatory oversight these transactions require. "If the SEC lacks the ability to oversee high frequency trading, then this needs to be corrected" via such a tax, Daniel Indiviglio writes; it might also curb equity markets' headlong rush into becoming "high-speed casinos rigged against individual investors." [View news story]
More likely they'd be handed a fine of two fitty...
Thanks HT. I've been absolutely swamped at work, and barely have time to goof off anymore! Hopefully, as I get to work into a routine with the new responsibilities, I'll find time to keep up with you guys. I miss being 'in the loop'.
That's one aspect of the housing situation we rarely hear being talked about... When Boomers start passing away at an increasing rate, you end up with the empty houses. That's not good news for the builders.
Although I did hear a statistic that stated that Gen Y is actually going to be bigger than the Boomers. Maybe they'll buy the houses. Nah...probably not...they'll just take them because they're entitled to a house, right?
Fed Open Market Committee: Eyes were on inflation, but no surprises here: Longer-term inflation expectations are "stable," underlying measures are "subdued." Commodities pricing effects still "transitory"; near-zero rates maintained and will be for "extended period"; QE2 to end on schedule in June; unanimous vote. [View news story]
Right. CPI. Which doesn't include food, gas, and medical bills. Those are 'too volatile' to measure in the "real" inflation. Except when the volatility is only upward. Then it's a real issue. Maybe not for the bean counters who are interested in keeping COLA increases down on SSI, but for those of us that actually have to spend money on those things.
Don't you mean "offered us another artificial dip to allow us to buy in cheaper again"? ;-)
Shameless, yes. But I think we're all in the accumulation stages still, so I ain't gonna complain too much. We all know that silver has lots of room to run, so a little delay is only helpful to our cost basis.
"At this juncture, the Fed is minimising the problem by noting that “stocks” matter more than “flows”. In other words, since the Fed has effectively taken out a significant amount of Treasuries from the marketplace (and they will not be selling them), other participants have no choice but to buy the new supply. However, as others also suspect, we think that it is much more complicated than that. And recall that the FED has little history to guide its thinking here."
He's assuming that there would have been a market for the Ts that the Fed has been buying in the first place, and that CBs have just been saving their money to buy them in July. I find that hard to believe. I thought the reason that POMO was instituted was that there WASN'T a sufficient market to keep rates down low enough for the games to be played.
The fate of job-seeking college graduates indicates the economy’s high levels of unemployment are cyclical in nature rather than structural, giving hope that stimulative policy can have a positive influence in helping firms create new jobs and bringing down U.S. unemployment, according to a San Francisco Fed study. [View news story]
If the high unemployment is cyclical, why do we need stimulative policy? Why not just wait for the cycle to come back around? If things are guaranteed to cycle, why tinker with them?
The Treasury sells $21B in reopened 10-year notes at 3.499% (.pdf). Bid-to-cover ratio of 3.32, vs. a recent 3.08; indirect bidders take 53%, vs. a recent 45.3%. Direct bidders take 6.5%, vs. a recent 10%. [View news story]
And how much of this offering will be POMO'd in a couple weeks? Y'know...since we're not monetizing the debt...
REE/Strategic Minerals Concentrator, May 12, 2011 [View instapost]
QuickChat #176, May 14, 2011 [View instapost]
I'm feeling the need to bookmark yet another Renegade thread that I no longer have time to follow!! ;-)
QuickChat #174, May 6, 2011 [View instapost]
What you may call manipulation, they call Preferred Pricing. ;-)
Sen. Chuck Schumer advocates an HFT tax to pay for the added regulatory oversight these transactions require. "If the SEC lacks the ability to oversee high frequency trading, then this needs to be corrected" via such a tax, Daniel Indiviglio writes; it might also curb equity markets' headlong rush into becoming "high-speed casinos rigged against individual investors." [View news story]
QuickChat #173, May 4, 2011 [View instapost]
QuickChat #173, May 4, 2011 [View instapost]
Although I did hear a statistic that stated that Gen Y is actually going to be bigger than the Boomers. Maybe they'll buy the houses. Nah...probably not...they'll just take them because they're entitled to a house, right?
Fed Open Market Committee: Eyes were on inflation, but no surprises here: Longer-term inflation expectations are "stable," underlying measures are "subdued." Commodities pricing effects still "transitory"; near-zero rates maintained and will be for "extended period"; QE2 to end on schedule in June; unanimous vote. [View news story]
QuickChat #161, March 24, 2011 [View instapost]
QuickChat #161, March 24, 2011 [View instapost]
Shameless, yes. But I think we're all in the accumulation stages still, so I ain't gonna complain too much. We all know that silver has lots of room to run, so a little delay is only helpful to our cost basis.
Quick Chat #160, March 20, 2011 [View instapost]
"At this juncture, the Fed is minimising the problem by noting that “stocks” matter more than “flows”. In other words, since the Fed has effectively taken out a significant amount of Treasuries from the marketplace (and they will not be selling them), other participants have no choice but to buy the new supply. However, as others also suspect, we think that it is much more complicated than that. And recall that the FED has little history to guide its thinking here."
He's assuming that there would have been a market for the Ts that the Fed has been buying in the first place, and that CBs have just been saving their money to buy them in July. I find that hard to believe. I thought the reason that POMO was instituted was that there WASN'T a sufficient market to keep rates down low enough for the games to be played.
REE/Strategic Minerals Concentrator, March 17, 2011 [View instapost]
If you can't do the right thing, move the goalposts. One thing at which governments all over the world excel.
The fate of job-seeking college graduates indicates the economy’s high levels of unemployment are cyclical in nature rather than structural, giving hope that stimulative policy can have a positive influence in helping firms create new jobs and bringing down U.S. unemployment, according to a San Francisco Fed study. [View news story]
QuickChat #158, March 14, 2011 [View instapost]
QuickChat #158, March 14, 2011 [View instapost]
The Treasury sells $21B in reopened 10-year notes at 3.499% (.pdf). Bid-to-cover ratio of 3.32, vs. a recent 3.08; indirect bidders take 53%, vs. a recent 45.3%. Direct bidders take 6.5%, vs. a recent 10%. [View news story]