2010

Highlights The US dollar is retaining its new found firm tone.  Position adjusting ahead of next week’s key events continues to dominate, encouraged by the loss of the dollar’s downside momentum.  Softer Australian CPI (2.8% in…

In our September 28 Salvo, we imagined an opportunity to ask Chairman Bernanke the following question: “What does the Fed do if it expands its balance sheet to $4 trillion or $6 trillion, drives the 10-year yield down to 2% or less, but…

by Alex Daley With talk of quantitative easing round 2 (or QE2 for short), the potential government bailouts of Fannie Mae and Freddie Mac, and mounting problems with state finances, government pension funds, and funding for social…

From From Jeremy Grantham's latest quarterly letter: If I were a benevolent dictator, I would strip the Fed of its obligation to worry about the economy and ask it to limit its meddling to attempting to manage inflation.  Better…

See Schapiro, Bair, Warren: Female Sheriffs of Wall Street - TIME

In November of 2008, I reported a lawsuit brought by Bloomberg News which requested the Federal Reserve disclose which securities it had accepted on behalf of taxpayers as collateral for $1.5 trillion in loans to banks during the…

The US Fed Won't Join Bank Supreme Court Appeal on Loan Disclosures – Bloomberg FT Alphaville » Long Room » No longer in suspense on the HAMP second lien program FT Alphaville » Smithers vs Wolf Are Bloggers Breeding…

Into the European close, the euro has broken down further.  A break below $1.3835 warns of the increased risk of a return to last week's low near $1.3700.  The unwinding of long euro cross positions, especially against sterling…

Short clip below. Regarding the comments about Citi, see this article here. This is not new news because Bowen testified in April (see here). Yet, nothing was done in the intervening six months until the foreclosure crisis precipitated…

Highlights The US dollar is still consolidating/correcting its recent decline against most of the major currencies today.  The notable exception is the British pound, where a considerably stronger than expected initial estimate of…