2012

Now, we come to the Spanish budget. The austerity here is a lot more real than it is in the French budget. As I have been saying for a number of weeks, the goal of the Spanish government is to present an austerity budget that gets approval…

I am going to use two news sources here, Liberation and L'Expansion to dissect the proposed 2013 French budget, which was released earlier today. France is significant because, along with Germany, it represented the pre-crisis axis around…

By Marc Chandler The US dollar is going into month and quarter end on a soft note.  The greenback had been generally firm against most of the major foreign currencies, but the Japanese yen, since around mid-month, but the news stream…

A quick post here. Sober Look has posted on Citigroup's economic surprise index, noting that it has started to roll over again, ever so slightly. But the trend is clear for the past two to three months and it has been sharply higher,…

I spoke on the panel of a conference that backed into a keynote address by Dennis Gartman. I thought he had a lot of interesting things to say, a lot of which I agreed with. The basic theme of his talk - and this was an investing in…

By Frederick J. Sheehan Editor's Note: Edward Harrison will be writing about the logic others feel support he other side of this trade based on views that Deniis Gartman espoused at an investment conference earlier today.  Frederick J.…

I participated in a Euromoney conference on investing in inflation this afternoon. I was on a panel of five right before the closing remarks by keynote speaker Dennis Gartman and I wanted to make a few remarks about what I learned. First,…

Two weeks ago I told you that Spanish Prime Minister Mariano Rajoy’s humiliating defeat to Merkel had narrowed options to sovereign bailout, monetisation or default for Spain. Now that the Spanish bank bailout is unraveling and Catalonia is…

I haven't done the daily for a few days because I have been trying to get out a few more lengthy posts. But today I wanted to highlight the inflation issue because I will be speaking on a Euromoney panel about investing in inflation later…

I am going to be speaking on a panel on "Investing in Inflation" tomorrow. And I thought I would put forward some ideas here regarding what I intend to say. The key word describing where we are is biflation, meaning inflation in some things…