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Markets
Case Shiller points to a grim U.S. housing market
This comes from S&P's website (pdf):
Data through December 2008, released today by Standard & Poor’s for its S&P/Case-Shiller Home Price Indices, the leading measure of U.S. home prices, show that the prices of existing single…
Major indices break through 1997 lows
The Dow Jones and the S&P 500 both closed at levels not seen in nearly twelve years. Despite a 'bailout rally' for the financials in the morning, the day was marked by heavy selling with the Dow down to 714 and the S&P ending the…
Spain: who is responsible for the property bubble?
As recession takes hold, European citizens are starting to ask questions about how they were led into this, the deepest downturn in three-quarters of a century. The leading Spanish daily El Pais published a very thoughtful article today…
Manhattan real estate in freefall
This week's Barron's magazine highlights the abysmal state of the Manhattan real estate market. Manhattan was one of the last bubble markets to burst. Now, things are unraveling quickly, particularly at the high end. Some experts see…
Robert Shiller: “It’s not likely to be quickly over”
An Interview with Robert Shiller - The Atlantic
Foreign investors dump Danske Bank
It is not just Eastern Europe and Switzerland where problems are popping up. This from the Berlingske Tidene, a Danish daily:
The alleged Stanford fraud
Yet another alleged case of massive fraud has been uncovered. This case is all the buzz in the financial sector. If the claims are proven true, fingers will point to the laissez-faire, deregulatory environment of the recent past as a…
Will sovereign wealth funds pour yet more money into the West?
Sovereign Wealth Funds (SWFs) are losing money hand over fist, which should leave one wondering whether their appetite for Western assets will continue to bolster those markets. Funds in Asia and the Middle East have been hit by a…
Mea Culpa: The Fed is not going to buy treasuries
Judging from recent events, the bond vigilantes are right to suspect that Ben Bernanke is all talk and no action when it comes to keeping long-term rates low. If you recall, I had actually believed the Fed would support bonds because it…
Goldman says fund managers expect deflation
Goldman Sachs London conducted a poll of fund managers today that had interesting results. The poll demonstrated that fund managers are expecting deflation more than inflation and that they expect the U.S. or Asia to escape the downturn…