Anjum

Anjum
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  • Equity futures turn sharply lower overnight, possibly in reaction to weak manufacturing data out of China and a mini-crash in Japan that left the Topix -6.9%. Factory activity in China shrunk for the first time in 7 months, reflecting "slower domestic demand and ongoing external headwinds." S&P futures currently -1.1% to 1637.50 after dropping below 1634 when European markets first opened.  [View news story]
    I would love to see S&P at 1437 .. LOL !
    May 23, 2013. 03:51 AM | Likes Like |Link to Comment
  • EIA Petroleum Inventories: Crude +1.8M barrels vs. consensus of +200K. Gasoline 1.4M vs. consensus of -1.25M. Distillates -3.6M vs. consensus of -1.5M. Crude futures trim gains, +1.1% to $93.82.   [View news story]
    crude oil 14.7 mil build ? and another 9.1 mil gasoline build ?? there seems to be a mistake here for sure else oil would have been crashing.
    Nov 2, 2011. 10:43 AM | Likes Like |Link to Comment
  • Moody's places the ratings of 5 Aaa states on review because of the possible downgrade of the U.S. should a debt deal not be reached. There are 15 Aaa states, but Moody's says these - MD, NM, SC, TN, VA - are especially "vulnerable to changes in the U.S. rating." About $24B of rated debt is affected.   [View news story]
    Wouldn't it be funny to have the U.S. rating cut down while few of its states still rate AAA ?? lol
    Jul 19, 2011. 01:10 PM | Likes Like |Link to Comment
  • FOMC minutes: A set of specific principles was considered that would guide a strategy for normalizing the stance and conduct of monetary policy, though it gave no timetable for doing so. The Committee found the pace of economic recovery slowed in recent months, and labor market conditions had softened. Measures of inflation picked up, but longer-run inflation expectations remained stable.   [View news story]
    Its all 'transitory' ... as the Chairman would say ! lol
    Jul 12, 2011. 02:51 PM | 2 Likes Like |Link to Comment
  • Mark Thoma believes Pres. Obama's latest remarks show a disappointing embrace of austerity as a valid means of economic stimulation. "There is no evidence that this works in a situation like ours, i.e. that deficit cuts create so much confidence that they stimulate the economy," Thoma writes, but "there is plenty of evidence that the fall in demand from deficit cuts is harmful."   [View news story]
    Lets step back a bit and take a wider view of the picture ... quarter of a century back, Asian economies had to borrow from the US to fund their economies when in need. Today, if the likes of China decide to stop lending to the US by buying its treasuries/bonds etc, US govt. would shut down pronto, debt ceiling or no debt ceiling !
    If thats the kind of future the US citizens want to give their children, then spend your way to oblivion by all means. If printing money out of thin air could solve all the problems, why do a miserly 75 odd billion a month ( 600 bil in 8 months) of QE ... lets take the bull by the horns and pump in 250 billion a month for the next one year. Maybe the US economy would then be booming by the time Mr. Obama is up for re-election.
    Jul 11, 2011. 02:21 PM | 2 Likes Like |Link to Comment
  • Mark Thoma believes Pres. Obama's latest remarks show a disappointing embrace of austerity as a valid means of economic stimulation. "There is no evidence that this works in a situation like ours, i.e. that deficit cuts create so much confidence that they stimulate the economy," Thoma writes, but "there is plenty of evidence that the fall in demand from deficit cuts is harmful."   [View news story]
    Almost three years of profligacy and print-till-you-drop hasnt worked either ... if anything, US is in a worse situation than before. Austerity means living within your means ... something that US has forgotten in the last three decades.
    Jul 11, 2011. 01:20 PM | 5 Likes Like |Link to Comment
  • A view on the debt rating agencies from Portugal: They're just doing what comes naturally. The blame belongs with the politicians who have chatted about reform for years, but done nothing. From Germany: "One thing is unarguable ... all the downgrades have proven to be justified."   [View news story]
    ... and almost all the downgrades have been worthless too, as they came much after the horse had bolted !
    Jul 7, 2011. 12:26 PM | 1 Like Like |Link to Comment
  • S&P managing director John Chambers tells Reuters $30B in U.S. T-bills maturing August 4 will immediately be slashed to D - selective default - if the government fails to pay them off on that day. "They don't have a grace period."   [View news story]
    LOL ! I dare S&P to do that, Mr. Chambers ... I can guarantee no rating agency has the guts to do that !
    Jun 29, 2011. 02:55 PM | Likes Like |Link to Comment
  • "Transitory" has thankfully yet to be used, but one theme of Bernanke's press conference is his belief the economy will emerge just fine from its current soft patch. QE3 seems off the table for now. Dollar continuing to catch a bid. UUP +0.2%.   [View news story]
    They can't see ... because as Mr. Bernanke himself said a few mins ago, 'extended period' means a period about which they have no idea how long it is !
    Jun 22, 2011. 03:00 PM | Likes Like |Link to Comment
  • "Transitory" has thankfully yet to be used, but one theme of Bernanke's press conference is his belief the economy will emerge just fine from its current soft patch. QE3 seems off the table for now. Dollar continuing to catch a bid. UUP +0.2%.   [View news story]
    After having lowered the GDP by 0.5% for the next 3 years as well as raised unemployment and inflation projections till 2013, there is nothing 'transitory' left for Mr. Bernanke to refer to !!
    Jun 22, 2011. 02:44 PM | 3 Likes Like |Link to Comment
  • It's emerging markets, not the U.S., where the "monstrous" risks lie this year, says Richard Bernstein. He notes inverted yield curves in Brazil in India as a "warning sign that no one is talking about. How do you know when a central bank has tightened too much ... when the yield curve inverts."   [View news story]
    Definitely, Mr. Bernstein ... no risk in US, with the Fed having an 'always-on' printing press ! Economies growing at 8%+ inspite of their central banks regularly tightening sure are risky, as opposed to the US that barely manages 2% growth with ZIRP and QE. I guess your new firm will soon shut down with that kind of an analysis lol
    Jun 9, 2011. 10:49 AM | Likes Like |Link to Comment
  • The Fed doesn't believe any single hedge fund can topple the financial system, says an industry source, and therefore the industry may continue to avoid the stricter controls imposed on mutual funds and certain financial firms.   [View news story]
    Nor did it believe that Bear Sterns or Lehman could, either !
    Dec 21, 2010. 08:46 AM | 3 Likes Like |Link to Comment
  • Oct. Producer Price Index: +0.4% vs. +0.9% expected and +0.4% prior. Core PPI -0.6% vs. +0.1% expected and +0.1% prior.   [View news story]
    The world over, inflation is measured not as a standard value but against a pre-determined yardstick ... thats why there is a disconnect between ground level price inflation and the numbers reported by the govts. Also, the current trend of companies keeping the prices static or marginally up while reducing the packaged qty also doesnt get measured by the inflation stats published.
    Nov 16, 2010. 08:59 AM | 4 Likes Like |Link to Comment
  • Rep. Spencer Bachus says a broad implementation of the Volcker Rule could kill U.S. competitiveness. In a letter to Geithner and other regulators, the heir apparent to head the House Financial Services Committee urged them to consider whether a new rule limiting risky trading by U.S. banks may handicap them globally. Felix Salmon: Cutting profits from prop trading is a feature, not a bug.   [View news story]
    To take the convoluted logic of Mr. Bachus forward, since the restrictions imposed by Volcker rule may "continue to be permitted everywhere else in the world", would it be okay if rest of the world allowed its banks to create a financial crisis of the magnitude created by US banks that threatened to destroy the financial systems across the globe?? Rest of the world suffered the consequences of the insatiable greed of the US banks ... so would it be okay if rest of the world stood up and told US it doesnt give a damn if US economy survived or turned into a zimbabwe ?? Its time for a reality check, Mr. Bachus ... the patience and tolerance of people is close to running out !
    Nov 5, 2010. 01:32 PM | 3 Likes Like |Link to Comment
  • Chrysler (FIATY.PK) is expected to receive loans from the Energy Department to retool its factories for more fuel-efficient vehicles, and has applied for $10B. The financing could free up the automaker to accelerate payment on $7B in more costly loans related to its bankruptcy.   [View news story]
    From where I stand, it all looks like how much free money can be squeezed out, whether its GM or chrysler or any of the big banks that got TARP funds. Those supposedly incharge of reviving the economy and keep it growing seem to be groping their way in the dark, hoping to find the light switch !
    Oct 27, 2010. 11:43 AM | 3 Likes Like |Link to Comment
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