currencies

US Treasury Secretary Tim Geithner was on Charlie Rose the day before yesterday explaining his position on alleged "currency manipulation" by the Chinese. This quote stands out as defining his position: What’s happening is, as…

Topic of the Day: Foreclosures Since we haven't really covered the foreclosure crisis here, I will use today's links to point you to some articles on the topic. Hopefully this gives you a comprehensive look into what is happening.…

US headline PPI came in somewhat higher than expected at 0.4%.  Weekly initial jobless claims were a bit stronger than expected and the US trade deficit was wider than expected.    The trade balance, adjusted for…

The U.S. Senate will pass legislation geared to pressuring China to revalue its currency and the US is set to label China a currency manipulator. The view in Washington ahead of the mid-terms is that China is "the bad guy" as Paul…

Highlights The US dollar is getting punished; suffering steep broad based losses today.  The spark that has driven the euro and sterling through their recent caps near $1.40 and $1.60 respectively, the Australian dollar, Swiss franc…

In regards to Paul Krugman's argument's on China in the video in the last post, I think this quote from David Rosenberg's latest daily market commentary is spot on: Since 1985, dollar-yen has sunk nearly 70% and yet the US has the…

...And the Coming Capital Controls A cross-post from this past Monday by Michael Hudson, President of The Institute for the Study of Long-Term Economic Trends (ISLET), a Wall Street Financial Analyst, Distinguished Research Professor of…

Note the reserve amounts in this post have been amended to reflect the $200 billion increase instead of the $20 billion originally cited. There are four developments in China to note today. First, China reported that its reserves jumped…

Highlights The US dollar is mostly lower as shorts get re-established after yesterday’s squeeze.  The contrast between The ECB’s continued commitment to an exit strategy, leading to firmer euro zone interest rates, while the FOMC…

by Annaly Capital Management In recent weeks, the Plaza Accord has been receiving a lot of attention, particularly after the IMF’s annual meeting in Washington concluded without making any progress on currency issues. If you recall, the…