We are now are now 90 points off the cyclical and 2011 highs in the spoo, or 6.9%. For the year we are still up 2% but things feel very shaky – not as bad as the March Tsunami dip to 1248 – but close. The most recent catalyst for weakness was Ben’s speech late...
For those in the camp that Q2 economic data weakness is temporary, the supply disruptions in Japan will ebb, the Chinese tightening measures will lead to only a modest Asian slowdown and that the current situation is basically bump in the road on the way to a...
There is no way to put a positive spin on the US data – it stinks. It’s been soft and mushy for the better part of a month now, and today we get the crème fraiche on top with payrolls. Goods manufacturing and retail services look to be the big culprits so there may be...
On 28-May I attended a roundtable discussion in Limassol, Cyprus with Athanasios Orphanides, the governor of the central bank of Cyprus, Don Kohn, the ex-vice chairman of the FRB, Lucas Papdemos, the ex-vice president of the ECB, and Nout Wellink, president of the...
The Greek situation is the single greatest tail risk for markets. Restructuring, default and/or EU exit will surely bring with it confusion and retrenchment across ALL capital markets. The current situation remains “fluid” with quarterly reviews of the austerity...
The Greek situation is the single greatest tail risk for markets. Restructuring, default and/or EU exit will surely bring with it confusion and retrenchment across ALL capital markets. The current situation remains “fluid” with quarterly reviews of the austerity progress creating a never ending worry about the trickle of future bailout monies. To be sure, […]
