2012

Two weeks ago I highlighted the fact that Indonesia has re-attained an investment grade rating, continuing the upward path it has been on since the Asian crisis derailed the Asian growth story 15 years ago. Indeed, we should expect emerging…

Ahead of the next LTRO at the end of the month, Spanish and Italian bonds may begin consolidating after the large moves seen over the past month. The scope for Italian out performance in the month ahead appears somewhat more limited than…

Cash accounts for almost 6% of all corporate assets and the highest in sixty years. This increase is a result of a number of factors. Record profits give businesses the wherewithal. But corporations are not rewarded for the cash holdings.…

What I have been saying throughout 2011 is that margin compression is going to happen no matter what. The cuts have been made and so margins cannot grow any higher from cuts. It has to come from operating leverage that increases as a result…

What I have been saying throughout 2011 is that margin compression is going to happen no matter what. The cuts have been made and so margins cannot grow any higher from cuts. It has to come from operating leverage that increases as a result…

The answer is yes. video below

The dollar looks set to begin the week higher against the majors and EMs over lack of progress in Greece. European stocks are down 0.6%, with the EuroStoxx 600 trimming its 6-month high; EZ banks down 1.3%. German manufacturing orders…

Schneiderman Files Civil Fraud Lawsuit Against Three Major Banks for Use of MERS « naked capitalism New York filed a lawsuit against various units of JP Morgan, Bank of America, Wells, MERSCORP and…

I have been making a big deal about strength in the household series of employment and the trend in IUCs. These are statistical series that do not get revised out of recognition. They often tell the tale at turning points. Given that past…

Bloomberg Television has another video with PIMCO head Mohamed El-Erian, this time on the jobs number. This one number has the potential to set the tone for the short-term because it was so far ahead of consensus estimates. El-Erian…