Markets

This week the following graph from https://www.chartoftheday.com https://www.chartoftheday.com/ has been annotated by the author to highlight similarities of the current era for stocks to a corporate earnings pattern traced out nearly a…

By Michael Farrell, Annaly Capital Management My fellow mortgage market participants, On Tuesday, I attended the “Conference on the Future of Housing Finance” hosted by Treasury Secretary Tim Geithner and Housing and Urban Development…

From Gerard Minack of Morgan Stanley (hat tip Scott): The past two years have demonstrated the high cost of these policy errors. More to the point, the private sector now seems leery of debt and aiming to increase saving. This matters a…

Highlights The US dollar is firmer across the board vs. the majors as risk aversion carries over today.  Euro is coming under pressure and making new lows vs. the dollar after peaking on August 6 and has now broken the minimal…

By John Lounsbury. In a previous article reviewing my attendance at a small discussion group meeting with Treasury Secretary Geithner and other senior Treasury Officials, I left out one very important topic that was covered.  I also…

From Bloomberg: Bill Gross, who runs the world’s biggest bond fund at Pacific Investment Management Co., said the U.S. should consider “full nationalization” of the mortgage- finance system as the Obama administration plots the revival…

Wheat is trading higher today, positioning to snap a 4-day profit-taking decline. The US Dept of Agriculture provided updated its forecasts for grain production. It now forecasts a global harvest for year than began June 1 at 645.7 mln…

From the BBH Currency Strategy Team. Highlights The US dollar is mostly firmer today after yesterday’s surge.  After  yesterday’s gains were briefly and marginally extended in early Asian trading, a consolidative/corrective…

Fears that the global recovery is faltering is unlikely to prevent Chile's central bank from hiking rates tomorrow.  It had hiked rates last month and the data since has been strong and economists have generally revised higher growth…

Highlights The US dollar has fully recouped and more so the losses inflicted in the immediate aftermath of the FOMC’s decision to recycle the MBS and Agency bond holding proceeds backing into Treasuries.  Its somewhat more gloomy…