From PeakProsperity:
After the shot across the bow in 2008, you might have expected that regulators and market participants would use the experience to change for the better, to become more prudent, and to reduce the sorts of risky behaviors that almost crashed the entire system.
Unfortunately, you’d be wrong…
In 1998, there was a firm called Long-Term Capital Management (LTCM, as it is commonly referred to today), staffed by the best of [...]
Peter Schiff: Fed Has Created An Economy Completely Dependent On Monetary Heroin
Drivers Face High Gasoline Prices Despite US Oil Boom
The U.S. is increasing its oil production faster than ever and U.S. drivers are guzzling less gas. But you’d never know it from the price at the pump.
Fed balance sheet grows to record size in latest week
Jim Rickards – U.S. Depositors Are Worse Off Than Cypriots
Larry Kudlow Makes A Stunning Admission [...]
German Finance Minister Wolfgang Schaeuble declared bond traders all wrong in driving up Spanish borrowing costs to unsustainable levels.
After issuing the statement late yesterday, Schaeuble, 69, went off duty for a three-week vacation.
It’s summertime in Europe, and like last year, borrowing costs are rising as investors fret over the fate of the 17- nation euro area. Most government leaders are heading to their favorite beaches, mountains and lakes to take a break [...]
From AlphaVN:
For the past three months, gold bulls have been wondering where the demand was. Why wasn’t gold acting as the safe haven asset it should be as the markets began an epic flight to quality into U.S. and Japanese treasury bonds?
The short answer, of course, is that so much of the market is made up of people who cannot or will not buy gold. CFOs, pension fund managers, etc. [...]
From FT:
Luis de Guindos had one last clandestine mission before unveiling his plan to the public and jittery financial markets. The Spanish finance minister had just won a furious backroom battle to oust Rodrigo Rato, a favourite son of his ruling centre-right Popular party, from the helm of Bankia and nationalised the faltering year-old assemblage of savings banks that had collapsed after betting wrongly on the country’s housing bubble.
But the most critical stage of [...]
kingworldnews
With global investors concerned about key markets, today King World News interviewed legendary Jim Sinclair’s colleague and fellow trader, Dan Norcini. Norcini told KWN that a decisive break below the 1.8% level on the US Ten-Year Note would signal that a tsunami of deflation could engulf the globe. Norcini said this could trigger “a collapse in tax revenue” and budget deficits would “blow out of control.” Here is how Norcini [...]
Last updated:
April 26, 2012 9:22 pm
Debt fears return as ECB funds are used up
By Richard Milne
Investors have begun to pay especially close attention to Spanish and Italian banks.
Thanks to the billions of euros in cheap loans dispensed by the
European Central Bank, the banks’ dealings have become linked to moves
in their countries’ bonds. And that relationship could well determine
the course of the eurozone crisis. At the heart of bond traders’ concerns [...]
Uploaded by CapitalAccount on Apr 2, 2012
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Welcome to Capital Account. The S&P 500 stock index has had its best yearly start vis-à-vis gold in over a decade, and bond traders see a rebound for treasuries after the most tumultuous quarter since 2010. Meanwhile, Greenspan going to bat for his old right-hand at the Federal Reserve, Ben Bernanke, for all the criticism he has taken in recent months, in particular for [...]
• Europe ‘in recession’ – and could take global economy with it
• OECD: Britain will slip into ‘modest recession’, demands QE
• UK unemployment ‘will hit 9.1pc’ in 2013, homelessness to rise
• IMF ‘preparing Italy and Spain rescue funds’ – markets rally
• Obama to meet euro chiefs Barroso, Van Rompuy today
• Japanese fund drops risky European bonds
Latest
13.16 To read their Economic Outlook, you’d think the OECD have spent Sunday afternoon at Tate [...]
By William L. Watts
FRANKFURT (MarketWatch) — Italian government bonds fell sharply Tuesday, pushing the yield on 10-year bonds IT:10YR_ITA [...]
By MarketWatch
SAN FRANCISCO — It’s the politics, stupid.
That reversal of U.S. President Bill Clinton’s campaign admonishment is what someone needs to say to the leaders of Europe as they stand, apparently helpless, and watch bond traders push the euro zone toward disintegration.
Bond traders may be, as one once described himself and his colleagues to me “stupid people with tiny brains” but that doesn’t mean they [...]
By Brett Philbin, MarketWatch
NEW YORK — Wall Street bonuses are set to shrink by an average of 20% to 30% from last year, with even steeper declines for bond traders, according to a widely watched compensation survey.
The projections, to be released Tuesday by consulting firm Johnson Associates Inc., reflect the tough times at many banks and securities firms since the spring.
Business has been difficult because [...]
kingworldnews.com
With continued worries surrounding the metals markets, today King World News spoke with the firm that is calling for $10,000 gold. Paul Brodsky, who co-founded QB Asset Management Company, explains, “We spent twenty odd years as bond traders before deciding there was no value anywhere in the interest rate arena at all. As that background would imply, we like to know what fair value is for things. So we went back [...]
By Matthew Lynn
LONDON (MarketWatch) — Every financial crisis in the end boils down to one very simple question. Who pays?
The euro EURUSD +0.53% debacle has now reached that point. After the G-20 summit in Paris last weekend, there is increasing talk of getting the rest of the world to help bail the single currency out of the mess it finds itself in.
More money should be poured into the International Monetary Fund to [...]
Before the Euro was created, Greece–as it has been for thousands of years–was essentially a poor, underdeveloped country, more akin to its Eastern Block neighbors than western Europe, only with lots of awesome tourist attractions so as to support a semi-functional, utterly corrupt socialist system (populated by a relatively lazy people).
With intro of Euro, bond traders suddenly pretended Greece was Germany. Overnight, consumer lending rates went from 20% to 4%. [...]
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