A federal judge said former U.S. Treasury Secretary Timothy Geithner must give Standard & Poor’s documents he used when writing his best-selling memoir, a ruling that could help S&P defend against the government’s $5 billion fraud lawsuit over its credit ratings. In a ruling made public on Thursd…
Read the rest here:
S&P wins right to Geithner documents in $5 bln U.S. fraud lawsuit
September has a well-deserved reputation for causing the market trouble, and the week after September options expiration is statistically the worst week of the year (per Rob Hanna of www.quantifiableedges.com). This year, the stock market has been procrastinating about getting that seasonal…
See original here:
September Seasonality Finally Shows Up
“If the facts don’t fit the theory, change the theory,” goes the old adage. But too often it is easier to keep the theory and change the facts – or so German Chancellor Angela Merkel and other pro-austerity European leaders appear to believe. Though facts keep staring them in the face, they continue…
Read more from the original source:
Europe’s Austerity Zombies
It’s a mountain of money the size of Mexico’s economy. It could buy Apple, Exxon Mobil and Toyota and still have change. Japan’s Government Pension Investment Fund is the world’s biggest state investor — trumping all managed government retirement and sovereign wealth funds — and the way it spends…
Go here to see the original:
Japan’s Pension War
Barely a year removed from the devastation of the 2008 financial crisis, the president of the Federal Reserve Bank of New York faced a crossroads. Congress had set its sights on reform. The biggest banks in the nation had shown that their failure could threaten the entire financial system. Lawmakers…
More:
Inside the New York Fed: Secret Recordings and a Culture Clash
The list of disconnects between Wall Street and Main Street is long enough to choke a horse. We have uninspiring economic fundamentals and geopolitical turbulence, yet all-time highs in bullish sentiment and a persistent rise in the stock market. Given how the market broke a leg on Thursday, …
See the rest here:
The Sleeping Bear Bites the Complacent Bull
U.S. consumer sentiment finished September at its strongest in more than a year on growing optimism about the economy and more favorable outlook on future income, a survey released on Friday showed. The Thomson Reuters/University of Michigan’s final September reading on the overall index on consu…
Excerpt from:
Michigan Consumer Sentiment Index Rises to 84.6 From 82.5
William H. Gross, who built Pimco into one of the largest money managers in the world and has been called “the bond king,” has quit the firm he founded and will join Janus Capital. The surprising departure follows months of questions about his leadership style and his funds’ performance as invest…
Here is the original post:
William Gross Leaves Pimco to Join Janus
A number of top Federal Reserve officials want more convincing evidence that U.S. inflation is on a healthy upswing before embarking on what they expect will be a very gradual course of interest rate increases. Policymakers at the central bank this week began to flesh out their thinking on the li…
See the rest here:
Low inflation fuels caution at Fed over rate rises
The U.S. economy expanded in the second quarter at the fastest rate since the last three months of 2011 as companies stepped up investment and households boosted spending. Gross domestic product grew at a revised 4.6 percent annualized rate, up from a previous estimate of 4.2 percent, Commerce D…
See the original post:
Economy in U.S. Expanded 4.6% in Second Quarter, Most Since 2011
Real gross domestic product — the output of goods and services produced by labor and property located in the United States — increased at an annual rate of 4.6 percent in the second quarter of 2014, according to the “third” estimate released by the Bureau of Economic Analysis. In the first quar…
More:
US Gross Domestic Product: Second Quarter 2014 (Third Estimate)
Probably most people would agree that the people paid by the U.S. government to regulate Wall Street have had their difficulties. Most people would probably also agree on two reasons those difficulties seem only to be growing: an ever-more complex financial system that regulators must have explained…
See more here:
The Secret Goldman Sachs Tapes
Britain’s Financial Conduct Authority held talks this week with six banks over an aggregate settlement of around 2 billion pounds after its investigation into allegations of collusion and manipulation in the global currency market, Sky News reported on Friday. The settlement would see banks pay …
Here is the original post:
UK regulator, banks in talks over 2 billion pounds FX probe settlement
The eurozone debt crisis never went away. It merely acquired a misleading veneer of resolution, thanks to grand promises, political chest-thumping and frazzled financial markets that were desperate to believe in happily ever after. Today, there is an accentuated sense of deja vu (all over again, …
Read the rest here:
Debt forgiveness could ease eurozone woes
European Central Bank Executive Board member Benoit Coeure said Friday that policymakers expect more vivid interest in the Bank’s targeted liquidity operations going forward as demand for credit improves. “We are now seeing signs that credit demand is picking up, making it imperative tha…
Read more from the original source:
ECB Coeure Sees More Demand For Upcoming TLTROs
Global stock markets will keep climbing well into 2015 as they shift away from a liquidity driven rally to focus on growth expectations, although many strategists also warned in a worldwide Reuters poll that prices are already very high. Accommodative monetary policy has driven a bull market in s…
Read more here:
Global stock market rally set to continue into 2015
Selling pressure is taking hold on global equity markets, as Wall Street had its worst session since 31st July. The S&P 500 fell 1.6% leaving it at a 5 week low and at risk of further correction back towards its band of support 1945/1955. The move was driven by a series of shocks which included…
Original post:
The implications of key near term support on Cable
Vladimir Putin has demanded a reopening of the EU’s recently-ratified trade pact with Ukraine and has threatened “immediate and appropriate retaliatory measures” if Kiev moves to implement any parts of the deal. The demand, made in a letter to European Commission President José Manuel B…
House prices have fallen in London for the first time in nearly two years after a period of frenetic hikes in value, as demand in the capital finally dissipates. More “modest” price drops in the London market are to be expected to follow, according to the latest Hometrack report, as buyers reject…
Read the original post:
UK House prices have finally started to fall
Diverging monetary policies have fueled the U.S. dollar’s strength this summer, more so against the EUR than any of the other Group of Seven (G-7) currencies. On Thursday, the pressure applied to the single unit managed to push it to its weakest outright level (€1.2697) in almost two years. To date,…
View original post here:
Week in FX Europe – EUR Run Ragged after Consolidation
