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Markets
Long Dollar Liquidation Featured
Highlights The US dollar is beginning the new week as it finished last week, with a heavy tone. Position adjusting in the wake of the European/IMF deal and ahead of month end is the main driver. Also prompting some…
It’s unanimous: Propping up underwater mortgages is a bad idea
What follows is a more comprehensive re-write of my take on the latest bailout proposals by the Obama Administration. I felt the original write-up was a bit rushed and one-sided. I have tried to outline the objectives of the bailout plans…
Dollar Lower On Market Adjustments
Highlights The US dollar is broadly lower, though mostly within yesterday’s trading ranges, as the market adjusts positions in light of the European agreement on support for Greece. This is the main market development. However,…
Michael Mauboussin on investor psychology
When I was in business school in the mid-1990s I took a securities analysis class with Michael Mauboussin, who was an Adjunct Professor then working at Credit Suisse First Boston (he's now at Legg Mason). The class, which focused a…
Consolidative Tone Emerges, Times to Catch Your Breath
Marc Chandler is the global head of Brown Brother Harriman’s top ranked Currency Strategy Team. For more of BBH’s currency views, please visit the BBH FX website here. Highlights The US dollar is consolidating yesterday’s outsized…
Gross: American-style capitalism has reached a dead end but buy T-bills anyway
I must say, Bill Gross is really sour on events in the United States these days. His monthly works are getting more and more populist. And it's interesting to see how he can segue from his introductory populist screed into a cogent…
US Dollar Riding High, Greek Concerns Dominate
Marc Chandler is the global head of Brown Brother Harriman’s top ranked Currency Strategy Team. For more of BBH’s currency views, please visit the BBH FX website here. Highlights The US dollar is riding high today, with broad based gains…
Ten ways to spot a bubble in China
Edward Chancellor, author of the seminal book on financial speculation and manias “Devil Take The Hindmost,” is now turning his eyes to China. He sees a number of red flags which point to excess in China.
Chancellor writes:…
Rosenberg: Home prices may drop as much as 20%
David Rosenberg, Chief Economist at Gluskin Sheff, has recently given a couple of different views about the near term future for housing prices. These views are different only in degree: both are negative. Home Prices May Drop 20% Further…
Fed Does Not Hike Discount but Greek Concerns Continue To Bolster US Dollar
Highlights The US dollar is firmer against most major currencies. The euro is trading near the week’s lows while the safe haven Swiss franc is up on the day amidst ongoing concerns about Greece. That’s despite comments from…