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Markets
Rosenberg bullish on energy stocks, cautious on growth due to oil shock
Earlier in the week, David Rosenberg wrote that he is bullish on energy stocks due to the exogenous shock that tensions in the Middle East are creating in the energy complex. However, this is not a bullish story for overall U.S. growth or…
More Food for Thought
Bill Fleckenstein was back talking to Dylan Ratigan about the source of rising oil prices. (See the last Fleckenstein video here). Clearly, supply constraints and increased demand in emerging markets play the central role in creating a…
A Municipal Score Card
Frederick J. Sheehan is the author of Panderer to Power: The Untold Story of How Alan Greenspan Enriched Wall Street and Left a Legacy of Recession (McGraw-Hill, 2009). Meredith Whitney has kicked up a storm with her 600-page,…
Saudi Arabia Tries To Calm Oil Markets
We note that uncertainty regarding potential oil supply disruptions is in a sense higher now than it was during the first and second Gulf Wars. Then, it was pretty much a foregone conclusion that Saddam would be defeated and oil facilities…
U.S. Housing Market: Down Trend May Be Slowing
Guest Author post by Steven Hansen, Publisher of Global Economic Intersection.
Econintersect is using the Case-Shiller data release to overview the home price situation as of December 2010. Generally, all home price indexes are trending…
Africa’s declining energy exports
This note from UBS' Andy Lees this morning points to peak oil/peak resources as a consideration in the ongoing troubles in the Middle East. Andy writes: Just a few quick figures on African oil production. Libyan production, according to…
Case-Shiller: US House Prices Are Closing In On the Post-Bubble Trough
The S&P/Case Shiller Home Price Indices shows that house prices in the U.S. continue to decline this winter. For data through December 2010, the broad Composite-20 index is down 2.4% compared to December 2009. The Composite-10…
Tensions in Libya Batter Risk Appetite
The US dollar is broadly stronger this morning as geopolitical tensions in Libya and the Middle East prompt demand for safe haven securities. Indeed, the dollar, yen and Swiss franc are all higher as the reboot of risk-off has driven a…
Some Thoughts On Libya’s Likely Market Impact
By Win Thin
The Libyan situation continues to deteriorate, with the expected impact on oil (up) and EM (down) being seen today. Libyan leader Qaddafi is hanging on to power despite reported defections by diplomats and soldiers, while his…
The Federal Reserve’s Quantitative Easing is Raising Inflation Expectations
The real question is whether the inflation that bondholders are expecting will actually lead to rate rises. Bond vigilantes can sell Treasuries in expectation of future rate hikes. (Remember, long rates are simply a chain of expected…