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Bill Black on the MF Global Cover-up
Here's another appearance by Bill Black spoke to RT's Lauren Lyster this past Wednesday about regulatory action in the MF Global case.
Guess which central bank is going to copy the ECB and provide 3-year loans?
The three-year loans will carry an interest rate initially of the benchmark rate of 70 bp.
Secular Bear Market?
We received a phone call over the weekend from a close friend and someone who reads our comments religiously. He had a question for us. He wanted to know if we were still in the secular bear market camp or have we thrown in the towel since…
Frustrating Friday as Euro and Sterling Bounce Back
The market has shrugged off the disappointing euro zone PMI to take the euro to a marginal new high for the week, and again mapping transversing the range of about $1.3140-$1.3500. Sterling too rose through yesterday's highs, albeit…
Daily Commentary: On The Global Growth Slowdown
This daily commentary is a bronze level post. Today, my comments go to warning signs in the economic data about the global economy slowing down. Lots of links on this topic as well.
Disappointment in Core, but Some Positive News in Periphery
The shockingly weak euro zone flash PMI, especially the sub-50 reading for German manufacturing, is the main focus today. New orders have been weak and the Bloomberg consensus does expect the euro zone economy to contract not only in Q1 but…
China Will Move Towards More Easing
So far, we must give Chinese authorities the benefit of the doubt and it is almost certain that they will now turn from a focus on inflation to a focus on growth. This is particularly the case as inflation has come down significantly in…
Economic Weakness Boosts Demand for Dollar and Yen; Chinese PMI Down
The theme of the day is one of economic weakness. New Zealand GDP (0.3% q/q vs. 0.7% prev), HSBC China PMI (48.1 vs. 49.6 prev), euro zone PMI composite (48.7 vs. 49.3 prev), and UK retail sales (-0.8% m/m vs. 0.6% prev ex-auto fuel) all…
Fed Chairman Bernanke, Gold and the Gold Standard
In yesterday's lecture, Federal Reserve Chairman rejected the idea that a return to a gold standard is desirable or practical. His pointed remarks come as Republican presidential candidate Ron Paul has fanned ideas in some quarters of the…
Daily Commentary: Net Capital Rules and the Credit Crisis
This daily commentary is a bronze-level post for Pro subscribers. Two articles worth reading on the 2004 change in net capital rules for investment banks are highlighted in today's links.