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Markets

Pre-Market Update

Things have not calmed down yet and the Futures market is pointing to a very poor start to morning trading. We are looking at a minimum of 4% down right of the bat.If the Plunge Protection Team exists, now is your time to…

Global asset re-pricing

It's about 7:45 AM ET as I write this and the overseas stock markets are getting hammered. I can't say I don't fear what is going to happen today because I do. We are witnessing a meltdown of unimaginable proportions that is not just…

Chart of the day: Dow 1973-1974

The last time faced a recession and a Bear Market of such viciousness was 35 years ago in the recession of 1973-1975. In the UK, it was truly horrific as inflation shot up to 25% and stocks dropped more than 90% in inflation-adjusted terms.…

Nikkei down 8% at open

This does not bode well.Japan's Nikkei stock average slid more than 8% on Friday after U.S. stocks plummeted on fears about a global recession, while a firm yen added to the pain.In early trade, the benchmark Nikkei had shed 673.72 points…

Free Fallin’

No not the markets, the song. We need a bit of a break from this calamity of a global financial system. So here it is via Tom Petty & The Heartbreakers, one of my favorite groups. The title is apropos, and the music is a bit…

Chart of the day: Aussie Dollar

If the huge sell-off on Wall Street, the gaping up of LIBOR, the halt of credit liquidity everywhere, the nationalisation of financial institutions and the enormous TED spread are not enough to convince you that we are headed for a…

678 points down

Honestly, I expected today to be up. In fact, it was a good day for much of the day. Overnight, the Hang Seng and the Straits Times were up over 3% in Asia. The European markets lost only a few percent. None of this prepared us for the…

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