So here we sit with the DJIA and Nasdaq unchanged on the year, while the spoo is spitting distance from the green zone. At the same time core European bond markets are finding very little support, with some fairly aggressive moves in France and Belgium most recently....
"I know what you're thinking, 'Did he fire six shots or only five?'. Well to tell you the truth, in all this excitement I kind of lost track myself. But being as this is a .44 Magnum, the most powerful handgun in the world, that would blow your head clean off, you've...
I spent all of last week on the west coast of the US crossing paths with about 300 clients from nearly 30 institutions. As to be expected, all discussions centered on Europe. While our highly pessimistic view on Europe met with only minor resistance, our idea that a...
After a disappointing week - like the one we just went through - I always do two things. First I reread Ben's classic "helicopter" deflation speech from 2002 - http://www.federalreserve.gov/boarddocs/speeches/2002/20021121/default.htm And second, I reread Herbert...
Today should have been some sort of momentous occasion. The Germans have backed an expanded EFSF - but the markets are about as excited as Red Sox fans. The new chatter is that this expanded power is not enough - which is of course correct - the EFSF would need...
Here is an excerpt from Fed Governor Raskin's speech yesterday: "Indeed, some commentators assign a label of “hawk” or “dove” to the various FOMC participants in an attempt to characterize how we prioritize the goals of maximum employment and price stability. In my...
Here is an excerpt from Fed Governor Raskin's speech yesterday: "Indeed, some commentators assign a label of “hawk” or “dove” to the various FOMC participants in an attempt to characterize how we prioritize the goals of maximum employment and price stability. In my view, such labels are ill conceived and misleading because everyone on the […]
