May 2010

David Rosenberg has a piece out that is relatively upbeat given the carnage in stock markets yesterday and his well-known bearish views.  He notes the positive to the recent market declines; they have taken the froth out of a few…

Subscribe to Our News Feed If you would like to receive our links in real-time please follow me (Edward Harrison) at @edwardnh. We also have a Facebook fan page now. Must read Spain raises €3.52bn with 10-year bonds - Independent.ie…

Highlights The euro was confined within a $1.25-$1.26 range in the euro session, with intervention talk and hope (in vain) for new measure at today’s EU Fin ministers meeting leaving a slightly more bid sentiment in place. This is all…

The song is "Don't Panic" by Coldplay. I hope it takes the edge off. Enjoy.

The euro has rallied about 1% and has spurred talk of ECB intervention.  We are skeptical.  There seems to be little reason to expect the ECB to intervene outside of its time zone in a unilateral fashion.  Convention, we…

The FDIC is out with its Quarterly Banking Profile for Q1 2010. And despite a rise in the FDIC's 'Problem List of Banks' to 775 in Q1 from 702 at the end of 2009 and 552 in Q3 2009, banks earned a ton of money – more than $18 billion in the…

By Doug Hornig, Casey Research Recent decades have witnessed an amazing shrinkage of the American manufacturing sector, from #1 in the world to virtual non-existence. Companies, taking advantage of cheaper labor costs abroad, have…

On China via Andy Lees of UBS: The yields on two sets of bills moved in opposite directions. The PBOC issued 3 month bills at a yield 4bpts higher than the prevailing rate, whilst 3 year bill yields fell 2bpts. “The divergence underscores…

In an interview with Dow Jones Newswires, John Lipsky, First Deputy Managing Director of the International Monetary Fund, answers questions about taking action on the euro and intervention in Greece. Also see IMF Official: Euro’s Slide Not…

As noted in the daily, Eurogroup head and Lux Prime Minister Jean-Claude Juncker has played down need to intervene in the foreign exchange market, saying there was no need to defend the euro.  Yet in the same interview, he claimed that…