Markets

Fred Sheehan provides a compilation of articles and quotes suggesting that the solution to the mortgage problems in the United States bears a striking resemblance to the policies which led to those mortgage problems in the first place.

We continue to identify four main macro issues shaping the investment climate: The tapering anticipation in the US; the stabilization of the Chinese economy; a cyclical recovery in Europe; and the long awaited Japanese purchases of foreign…

The main tension in the foreign exchange market is between positions adjusting pressures, which are US dollar negative, and widely held ideas that the trajectory of growth and interest rate differentials favor the US, which is dollar…

By Sober Look Today we saw another confirmation that the UK's placement on the economic cycle curve (see post) in the "recovery acceleration" section is quite reasonable. The KPMG/REC employment report for the UK showed something we haven't…

By Marc Chandler Today, ECB President Draghi essentially repeated his comments from last month. The key is that rates will remain at current levels or lower for an extended period and, although the economy is gradually recovering, growth…

Economists and the markets have been cheering the jump in housing prices and improving construction statistics. But for many Americans rising demand and higher house prices bring more bad news.

I thought this chart was a good one. It shows how quickly house prices have recovered in a number of markets. WHile DC and LA are the areas where the Case-Shiller index is at its highest, over the last year, Atlanta, Las Vegas, Phoenix and…

This note comes via New Economic Perspectives in response to Bill Black's article The housing appraisers warned us about the crisis but we didn’t listen that appeared here.

We think it would be a good idea to take a step back to see how EM FX and equities have performed during this recent bounce. Many EM currencies peaked against the dollar and the euro in early May, but then gave up ground, especially after…

The appraisers’ petition began in 2000 and was public. When the regulators and prosecutors did nothing in response to the appraisers’ warning the appraisers delivered it to government officials to ensure that no one could say they were not…