Markets

Gary Shilling talked with Bloomberg about the implications of China's recent currency move and the European debt crisis. True to form, he is bearish – both on the Chinese move and on the European debt situation. His view is that the Yuan…

Existing house sales in the US fell 2.2% month over month in May to an annualized 5.66 million rate from the upwardly-revised 5.79 million rate in April. Note that analysts polled by Reuters expected sales to rise to a 6.12 million rate.…

This is just in from David Rosenberg: In the discussion about the outlook for U.S. Treasury bonds, the point must be emphasized that supply alone has been an inadequate focus for predicting future price/yield. You don’t have to do much…

Last year Russia previously indicated it was thinking about adding Australian and Canadian dollars to its reserves.  More recently it said it was preparing to do just that.  At the end of last week, the ECB's Noyer opined that…

Highlights The US dollar remains firm after yesterday’s recovery.  New concerns about the funding needs of European banks have been sufficient to offset the stronger than expected German IFO survey.  Euro support is seen in…

China's Ministry of Commerce is on the wires saying it will monitor the yuan reform impact on Chinese export companies.   While China is a big exporter it is also a significant importer as well.  The increase in the yuan's…

Meredith Whitney was a guest host on CNBC at 8AM ET talking about an anticipated housing double dip. The videos are below. A few comments first.  Whitney was late to the recovery party in 2009 in my view. But I found the recent Rip…

Ideas that China will allow greater flexibility in the yuan, which for many means appreciation, will have positive impact on Latam currencies.   The Mexican peso and Brazilian real are leading the advance with about 0.66% gain…

Highlights The US dollar is generally softer.  News that China has agreed to make its currency more flexible has captured the imagination of the market and this has been expressed in what are regarded as risk trades.  Among the…

Dennis Gartman made some gold-bullish but euro-bearish comments on Bloomberg on Friday. He sees the play in gold as less about fear and more about reserves, specifically the euro. He says that central banks in China or Indonesia are going…