It appears that a US government shutdown is coming closer to reality - again. Since 1976 there have been 17 - with the 1995/96 shutdown of 21 days the longest in modern history. If on August 2nd there is no budget deal, then we should see number 18. Did financial...
It was a little over 1 year ago that Le TARP was announced. It soothed beaten European markets for a short time before its core operating facility - the EFSF - was stripped of the bulk of its advertised power to act directly in markets by a German led contingent of...
Catchy title huh? Of course I don't have the plan. But the rumor mill is swirling with possibilities - Greek haircuts, bank taxes, ECB accepting defaulted bonds, EFSF secondary buying, EFSF loans etc. etc. Expectations are high and we will need to see something fairly...
First of all a number of clients picked up on a rather large typo in my commentary from a few hours ago. The last sentence read - "The Germans will not destroy EMU but there will be some countries that may make it through to the end." It should have read - "The...
A perfect speech from Ben!!! I would have titled it "The semi-annual affirmation of the Bernanke Put to the Congress" or maybe better and more simply put "Buy spoos, I got your back". I liked this except on how the Fed describes QE policies - "by removing substantial...
When 2 trillion of market cap moves into a complete liquidity vacuum, it’s a problem. The explanations for the recent Italian debt price moves seem to be all over the map. Domestics exiting, foreign central bank selling and then of course foreign central bank buying...
When 2 trillion of market cap moves into a complete liquidity vacuum, it’s a problem. The explanations for the recent Italian debt price moves seem to be all over the map. Domestics exiting, foreign central bank selling and then of course foreign central bank buying and ecb buying. The usual market story-telling and confusion. The […]
