Daily

Reports of a cool new product out of Nokia give investors some hope that the company's product palette can keep the loss-making company alive as its cash resources dwindle. My understanding is that the latest cuts at Nokia will include the…

Not a lot of links today. One link I did want to talk about was the Barron's Roundtable Midyear Update. It's largely the same cast it has been for a few years but for the past few years, the topics have been heavily macro instead of…

Daily commentary Nokia is finished in my view. It was clear before they switched to the Windows Mobile platform that their existing platform was not going to survive the onslaught from smart phones with Apple iOS and Android operating…

Many of Spain's largest companies are well-diversified, from Telefonica to Repsol to even banking giants like BBVA and Santander. In my view, these are quality companies negatively impacted by the headlines on Spain. For value investors…

The euro zone sovereign debt crisis is reaching the end of the line. Spain and Italy are both simply too big to be bailed out. Yet as we speak, the yields on Spanish and Italian 10-year bonds are soaring, Spain's reaching a record 6.807%.…

Two weeks ago I argued Europe is on the brink of something very big. But the Spanish deal is not it. After the deal, markets rallied initially but soon afterwards, Spanish and Italian sovereign bonds sold off and are at the still elevated…

The big news yesterday was that Ben Bernanke did not back up Janet Yellen's dovish commentary from the night before. Fed Chair Bernanke did say that the Fed was prepared to use unconventional measures to maintain an accommodative stance.…

As I indicated on 27 April on Why the Spanish bailout may be to recap the banks instead of sovereign, I don't believe the Europeans are going to bail out the Spanish sovereign. Instead, given that Spain has low sovereign debt to GDP, the…

The Martin Wolf piece about panic becoming all too rational fits very nicely with the macro case i made earlier today. He points to the private sector indebtedness and subsequent retrenchment as well as to the policy errors that have come…

The link I want to highlight today is on the relationship between the slowdown in growth globally and US multinational earnings.