Today’s Bank of England minutes for the previous monetary policy committee meeting are expected to strengthen the view that the first interest rate hike for Britain won’t arrive until deep into 2015 at the earliest. Later, the crowd will be looking for more evidence that the US housing recovery …
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3 Numbers: Dovish bias expected in BoE minutes, US mortgages, US CPI
The boss of the corporate regulator says Australia is too soft on corporate criminals and increased civil penalties including more jail terms are needed. The Australian Securities and Investments Commission chairman, Greg Medcraft, told journalists at a Walkley Foundation function that “Australia…
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Australia a paradise for corporate crooks says regulator
Treasuries fell after a report showed existing home sales rose to their highest level in a year, indicating the U.S. economy is still improving amid slowing global growth. The benchmark 10-year note yield increased as prospects for additional stimulus from the European Central Bank boosted equiti…
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Treasuries Decline as U.S. Home Sales Increase to One-Year High
The return of market volatility sent the S&P 500 to a low of 1,820 last Wednesday, down 9.8% from its September 19 all-time high of 2,019. There certainly hasn’t been a shortage of concerns. The global economy has been slowing, commodity prices have been plunging, geopolitical tensions have been …
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Traders Say Three Changes Have Sent The Stock Market Surging Back
USD/JPY has held where it should have and oscillators are back at the bottom of their range and stabilizing, says Goldman Sachs. “Interestingly, the similarities to Jan./Feb. continue to persist. Both periods saw a bearish key day reversal at the trend highs, a period of consolidation, an event…
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USD/JPY: Keep A Close Eye On Long-Term Set-Up – Goldman Sachs
Spare a thought for Warren Buffett, who lost nearly $1 billion on IBM on Monday and another $1 billion on Coke on Tuesday. On Monday Buffett lost nearly $1 billion on his third-largest investment, IBM , after the company posted disappointing earnings. On Tuesday, Coca-Cola did the same thing ,…
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Warren Buffett just lost ANOTHER $1bn on this
Chinese Premier Li Keqiang has an insider’s knowledge on the strength of the world’s second-largest economy that helps him determine when stimulus is needed. He’s about to share part of the secret. Li has said several times this year that slower growth is tolerable as long as enough jobs are crea…
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China to Let World in on Gauge Showing State of Economy
Consumer prices edged 0.5 per cent higher in the September quarter, as rises in the cost of fruit, houses, property rates, and vehicle charges were offset by falls in electricity and petrol. …
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Australia consumer prices rise 0.5% in September quarter
If an iconic motorcycle business is any measure, the world economy isn’t sputtering a bit. And why wouldn’t Harley-Davidson (HOG) results be a telling indicator? Buying a $20,000, 800-pound Hog is discretionary spending in a way that buying a car or a computer isn’t. So the financial update from …
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The Harley Economy Is Running Just Fine
Every economic collapse brings a demand for debt forgiveness. The incomes needed to repay loans have evaporated, and assets posted as collateral have lost value. Creditors demand their pound of flesh; debtors clamor for relief. Consider Strike Debt, an offshoot of the Occupy movement, which calls…
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The Moral Economy of Debt
Yep – rollercoaster indeed but a but cheeky or is it cynical? Hard to tell As readers know my sense is that the key to the recovery has been the changed perceptions about growth and interest rates. Fed Chair Yellen allowed a leak to say she still though growth was going to be okay and then it bec…
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Stocks rip higher again on the back of more rumours of monetary easing, Aussie fails
Just about six months ago, a headline flashed across the top of MarketWatch’s home page. It read: “100% of economists think yields will rise within six months.” The April 22 report was based on a Bloomberg survey of 67 economists, all of whom expected the 10-year Treasury note 10_YEAR, +1.59% y…
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Yes, 100% of economists were dead wrong about yields
EUR/USD attempts to gain some ground on the upside and to finally reach out for a test of the main T-junction at 1.2959 (minor 38.2 %) keep on failing so far, which shows the inner strength of the still prevailing downtrend, notes JP Morgan. “In order to confirm the resumption of the latter tho…
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EUR/USD: 1.2694 Key; Cable: Range Breakout Needed – JP Morgan
Mere days ago, spooked investors were asking themselves: Is it time to get out of stocks? A double whammy of worsening European economic woes and the ongoing global crises from Ebola to ISIS had spread fear in the market. At the worst point last week, nearly all the gains for the year were wipe…
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Rebound! Stocks erase much of October losses
This suspension is positive for Barrick. The capital that had been allocated for the development of this project will be used to pay down Barrick’s debt and improve its overall financial condition.
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Why Barrick suspended Pascua-Lama operations
In my book I go into some detail about the equation of exchange (MV = PQ) and why it can be terribly misleading. In essence, the equation is based on totally unrealistic assumptions such as the idea that “money” is some easily discernible item in an economy where financial assets have varying…
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No, Higher Velocity Will Not Necessarily Mean Higher Inflation
The European Central Bank bought Italian covered bonds as it returned to the market for a second day under its asset purchase program, according to two people familiar with the matter. Debt issued by Intesa Sanpaolo SpA (ISP) was included in the purchases, according to one of the people, who aske…
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ECB Said to Buy Italian Bonds in Second Day of Purchases
What happened in the US government bond market on the morning of October 15th? We have been hearing veteran bond traders say that they had never seen anything like it and that the bond market doesn’t work that way. Did the US Treasury market, arguably the most liquid market in the world,…
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What Really Happened in the US Government Bond Market on the Morning of October 15th?
The European Commission will on Wednesday tell five eurozone countries, including France and Italy, that their budget plans risk breaching EU budget rules, say three EU officials briefed on the decision. The other 3 are Austria, Slovenia and Malta. Yesterday, Reuters estimated that Italy’s bud…
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European Commission will tell five eurozone countries that budget plans risk breaking rules – FT
The Federal Reserve Bank of New York botched oversight of the JPMorgan Chase & Co. office that suffered $6.2 billion in trading losses attributed to the so-called London Whale, a watchdog report showed. The report from the Fed board’s Office of the Inspector General said the New York Fed spotted …
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Fed Watchdog Criticizes Scrutiny of JPMorgan London Whale
