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Markets
Mobius: Emerging market stocks are breaking out
For a moment forget that Mark Mobius is talking his own book. He suggests in the video below that we are in the early stages of a new bull market for emerging markets. He does not suggest that it will be off to the races from the word go,…
Expert: get out of western sovereign bonds
Martin Hennecke, a frequent guest on CNBC, is recommending that investors who have fled to cash and government bonds need to rethink that strategy. He sees inflation on the horizon and warns that western sovereign bonds will suffer as a…
U.S. Inflation: Where and When?
I wrote a note regarding the Q1 2009 GDP report which mentioned that the price deflator showed a large pick up in actual inflation. While I don't think we are off to the races immediately, I do see inflation as a medium-term threat and this…
Inventory glut: Tearing down new homes in Victorville
This video seems to be making the rounds. I saw it over at Calculated Risk first. The video shows new homes in Victorville, CA, just south of LA, being destroyed because it costs more for the banks to keep them up than to demolish them.…
CDS contracts and the implosion of several Eastern European economies
Today I saw two blurbs about Eastern Europe which I want to pull together with a bit of added commentary about the automakers in the U.S. The first blurb had to do with the Baltics and their probable downgrade to junk by the ratings…
Treasuries are getting crushed
Ten-year treasuries are yielding about 3.15% now, that is a significant increase from a yield of just over 2% in December. I for one, thought that Treasuries were in a bubble at 2% (See my post, "Treasurys are in a bubble" from December…
Nationwide: U.K. house prices resume their descent
After a blip in the data last month, Nationwide is reporting that U.K. house prices have resumed their fall. However, for the second month in a row, the annual price fall has slowed. In March, the fall was 15.7%. This month we see only…
Choice blindness: You don’t know what you want
Watch the video below and then read the text and the linked full article. No cheating!
As anyone who has ever been in a verbal disagreement can attest, people tend to give elaborate justifications for their decisions, which we…
US GDP Poor, But Europe Still Problematic
The following is a worthy analysis from Marc Chandler of Brown Brothers Harriman regarding the recent GDP numbers released in the U.S. and their significance for currencies (emphasis mine):
The initial reading of the US Q1 GDP was worse…
Case-Shiller: green shoots, yes but pretty grim nonetheless
You might find some analysts looking for some green shoots in the just released Case-Shiller Home Price Index. For instance, the year-on-year change in house prices showed a slower decline in the latest month (February) than in the…