Greece Requests a Rescue
Forever torn between a realistic assessment of the chances of avoiding restructuring or default over the next several years and the immediate relief of an EU bailout, bond traders pulled in Greek yields Forever torn between a realistic assessment of […]
Market Directions – Greece and Europe
“We are cooperating with those who have more serious problems”, said Joaquin Almunia European Union Economic and Monetary Affairs Commissioner. “We are all in the same boat”. Truer
Market Directions
Will the European Monetary Union countries return to the budgetarydiscipline of the Stability and Growth Pact? Can they bring theirfuture national finances into line with the treaty limits
Market Directions
Obscured in the gloom of Friday’s Non Farm Payrolls was an even more downbeat assessment of the state of the United States economy. Recessions: One Down, One to Go
Watch What We Do, Not What We Say
Pay attention to the bond market. The ten year Treasury closed at 3.80% on Friday. It has gained 0.65% since November 27th. The yield curve difference between the
The Dollar Shift
The dollar had an excellent week, its best since January. The US currency rose 2% or more against every major currency except the Canadian Dollar; against the loonie
Birth and Death in Non Farm Payrolls
The Non Farm Payrolls (NFP) is the most influential American economic statistic. In tracking the formation and destruction of employment in the United States the NFP provides a
Market Directions
Were Non Farm Payrolls an early holiday present for dollar bulls? Was it a classic case of the opposition between rumor and fact? The Dollar Link Were Non Farm
Petitioning China
President Obama’s trip to Asia is one part introduction, one part diplomatic dialogue and eight parts competitive economics. Whatever understandings are reached with leaders of Japan, South Korean
The Sincerest Flattery
American equity investors are worried about the incoming Obama administration. The Democratic candidate’s campaign promises to raise capital gains and marginal tax rates are viewed by many as