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Browsing Category
Markets
A bad haircut
Are these haircuts on Greek debt really such a good idea? Or are they really just a stopgap that will make things all the worse in the long-run?
Sure, Mr. Market seems to think they’re fantastic. But then, Mr. Market has always been…
Quantitative Easing!!!
The BoJ announced today that it will expand its asset purchase programme by JPY5trn (USD66bn), with all the purchases being directed at JGB's. Add that to the GBP75bn (USD120bn) by the BoE, CHF50bn (USD57bn) by the SNB and the EUR341bn…
Shanghai property values plunge, recent buyers protest
The Chinese property market has come off the boil according to this video from NTD Television. The issues are reminiscent of the US subprime crisis in which developers, under the gun from a falling market, were forced to slash prices to…
Gold Breaks Out — Print Away!
Gold is up big today and trading like the monetary printing presses are ready to kick into overdrive. We believe the recent Fed speak about QE3, possible BofJ intervention to weaken the yen, and growing expectations that tomorrow’s…
Argentina Reelects Fernandez, Unorthodox Policies And Peso Weakness To Continue
Fernandez will try to maintain the unorthodox mix of policies for as long as she can, and has shown little willingness to more towards orthodoxy during her first term. Troubles will come both internally and externally, with the growing fear…
Is the Euro Driving the S&P500?
In case you have noticed recently the Euro and S&P500 seem to be moving together almost tick for tick. Here are the daily moves in futures over the past month. Makes you think they’re both dancing to the same tune by the Algorithmics,…
Chart of the day: China’s U.S. Debt Holdings
According to China Daily, China owns $1.13 trillion of US debt. China has $3.20 trillion in foreign exchange reserves.
Turkey: On restoring central bank credibility and EM vulnerability
The Turkish central bank took a turn back to orthodox policy today despite leaving the benchmark 1-week repo rate unchanged at 5.75%. It dropped the language from several previous meetings about potential easing. The bank did hike the…
Here are the S&P500’s key levels
It’s kind of useless, in our opinion, to be looking at the technicals as the market approaches the big life or death event. The EU debt plan is either going to be taken positively, in which case the S&P500 will break through the…
Chart of the day: Italian bonds back over 6%
This chart shows how the Italians have suffered in the sovereign debt crisis. It is as if the ECB never bought bonds.