Markets

While Warren Buffett is out tarnishing his reputation with quotes about how "phenomenal" the ratings agencies' business model is, Bill Gross is accusing them of aiding and abetting the financial crisis. Here's a quote from Bill…

Within the euro-zone, Portugal comes in at #6. Spain and Ireland are not in the top ten. Source: CMA Sovereign Risk Monitor

Well, well ... it seems that the Europe may be important after all or at least that the Greek malaise may be spreading. The EUR/USD at 1.29ish, the AUD/USD looking towards 0.91ish, and all things risky in equity land seems to be entering…

After the PCE deflator was reported yesterday the Dallas Fed re-jigs it, cutting out strongest and weakest to arrive at a trimmed mean.  By its calculations the PCE deflator rose 0.1% at an annualized basis, which is the result of…

Markets were unimpressed with the size of the just-announced $145 billion rescue package or the ability of Greece to meet the terms. A bailout of all Club Med countries would, according to estimates I’ve seen, approach $800 billion. This…

he money that the government spends on a failed modification goes to banks, not homeowners. Typically, the government will have substituted an FHA insured mortgage for the original mortgage issued by a bank. This means that when a…

“My maid just asked for leave,” a friend in Beijing told me recently. “She’s rushing home to buy property. I suggested she borrow 70 percent, so she could cap the loss.” It wasn’t the first time I had heard such a story in China. Some…

This PBS Frontline film on foreclosures first aired in October.

It’s spring, and this spring a young man’s fancy lightly turns to thoughts of speculation. The Fed’s promises look good and, as long as you’re not a small business, you can borrow to invest or speculate at no cost. The market has had a…