Markets

Dollar bears are getting their way in the currency markets right now.  While most eyes are peeled on Sterling (up 3 big figures since Friday) and the Euro, all currencies are rising against the Dollar (including the Commodity Dollar Complex…

There has been a lot of chatter in the markets about why U.S. equities continue to rally.  Three distinct viewpoints have surfaced, two of which are bearish and one which is bullish.  Let me share those theories with you. 1. Market…

As I write this, the U.S. dollar has fallen to new 8-month lows against the British Pound and oil.  Sterling is up over 2 big figures to 1.6371 while oil (WTI crude front month contract) has marched up near $68 a barrel.  Clearly the sell…

Is the housing market in the U.K. bottoming?  Many pundits are talking as if it is and now we get the Nationwide data for May 2009 which shows a second rise in three months.  I am sceptical that we are at a bottom, so let’s see what the…

In five minutes we get GDP revisions.  Here is what Brown Brothers Harriman’s currency team says is happening in markets ahead of that data.  Basically, it is a resumption of the weak dollar trade with gold, oil and foreign…

Actually, I lied.  He really is not that bullish at all.  But he does sound relatively upbeat by comparison to 5 months ago. I have seen Whitney Tilson of T2 Partners a lot in the media of late.  The two most recent…

If you thought house prices were about to show some price gains, think again.  The Case-Shiller Home Price Index for March 2009 was released this morning and it paints a fairly grim picture.  The Composite-10 index shows an18.6% decline in…

I want to use this holiday weekend to fill in some gaps on major issues because I think we are at a key turning point. Because the economy has left the freefall stage and I have been more positive, I have been getting the feeling that I am…

You have probably seen stocks down today.  The dow is off nearly 200 points and the Nasda is down 50.  But, everything American is getting whacked today. The U.S. dollar, stocks, and bonds.  Look at the chart on Treasurys here - especially…

Now at his buy-side Canadian shop Gluskin Sheff, former Merrill Lynch chief North American economist David Rosenberg is sounding as bearish as ever.  He sees the recent market rally as a bear market rally and envisages a re-testing of…