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China Speculation Key Driver
Highlights The US dollar is generally softer. News that China has agreed to make its currency more flexible has captured the imagination of the market and this has been expressed in what are regarded as risk trades. Among the…
The Stimulants and the Austerians and the War on Double Dips
This week I have decided to do the weekly review both as a links post and in narrative form. I have already posted the links of the most-read articles (see them here). In this weekly review narrative, I want to discuss the…
Most-read at Credit Writedowns for week ending 2010-06-20
This week I am going to run the week in review posts both in links and narrative form. Here is the links version. The narrative version is up next. The Week’s Most Popular Ghost Town Detroit PIMCO on British National Solvency…
Nationalizing The US Mortgage Problem With Fannie and Freddie And Other Links
Fannie and Freddie Cost of Fannie And Freddie Keeps Rising - NYTimes.com Related Posts May 2010: Banks Making Shed Loads But Fannie And Freddie May Be “Losing Money as a Matter of Policy” Jan 2010: Manipulating mortgages Sep…
Gartman: Gold is Good but Euro is Doomed
Dennis Gartman made some gold-bullish but euro-bearish comments on Bloomberg on Friday. He sees the play in gold as less about fear and more about reserves, specifically the euro. He says that central banks in China or Indonesia are going…
Mauldin: Be Careful What You Wish For
A post by John Mauldin. "Everyone" is upset with the level of fiscal deficits being run by nearly every developed country. And with much justification. The levels of fiscal deficits are unsustainable and threaten to bring many…
On how Anadarko is distancing itself from BP and other links
Link of the day Anadarko Says BP Should Pay for Oil Spill After Being Reckless - Bloomberg.com The Usual Fare Wall Street Reform Could Cost Goldman Sachs Billions - Huffington Post The Economist Off the Deep End on BP and…
Federal largesse was countered by state and local cutbacks
In looking back on the efficacy of stimulus in the United States, Ezra Klein has a few thoughts in the Washington Post's "You've seen the stimulus. Now, meet the anti-stimulus." A multiple choice question for you: Did the…
A Flock of Fed Funds Forecasts
A post by Annaly Capital Management. There has been some chatter recently on the direction of traditional monetary policy (i.e., the Federal Reserve changing the Fed Funds target rate to influence the availability and cost of money and…
China to G20: The Yuan is Not the Problem
The US Treasury and the Congress appear to be intensifying pressure on the China to allow the yuan to appreciate. Other officials may weigh in ahead of the G20 meeting (June 25-27). Congressional support is reportedly strong…