June 2010

PIMCO is out with its secular outlook for the UK. PIMCO Portfolio Manager and EVP Michael Amey comments on growth and inflation and their effect on UK assets in the new normal of deleveraging, greater regulation and de-globalisation. …

News that Moody's cut Greece's credit rating to Ba1 from A3 is encouraging the market to do what it was already doing and that is paring the euro's earlier sharp gains.   This was a four notch downgrade, which reflects the…

John Hussman is out with his latest weekly and he discusses... the ECRI Leading Indicators of course. Everyone is talking about these numbers.  He is bearish, but as I have also noted the ECRI data are not yet predicting…

Must-read The German Miracle vs. the Welfare State - Ludwig Erhard - Mises Daily English-language links US/China Rhetoric Escalates Over Rise in Chinese Exports « naked capitalism The Essence of Pleasure : The Frontal Cortex…

For the fifth day, the euro is recording higher highs and higher lows. It has advanced by roughly 3.25% since last Monday's lows.  While we recognize an improved news stream, the main circumstances of the European debt crisis have not…

David Rosenberg is out with a good post that takes on the double dip theme that everyone is talking about.  As you would expect, he has a bearish spin. To the degree you want counterfactuals, I really like what Morgan Stanley has to…

By Marc Chandler of Brown Brothers Harriman Highlights The US dollar is extending last week’s pullback in what appears to be largely position adjustments, partly as a function of a better news stream and a healthier appetite for…

Muni investors are acting as if there is no default risk in the municipal bond market based on yields.  It's a bit like the conditions in the eurozone before the sovereign debt crisis. The Wall Street Journal reports: Investors are…

This week's review post is a bit late since I have been spending all my time watching the World Cup. Like last week, I will put the review in narrative form with links to last week's posts embedded. The numbers were OK but... I think the…

Topic of the Day - Germany: austerity, social unrest, protectionism and gold bunkers Schwere Krawalle in Berlin: Zehntausende protestieren gegen Sparpaket | FTD.de Krisenanlage: Banken bauen Goldbunker | FTD.de FT Alphaville -…