equities

I'm off now. But I thought I'd provide two Tom Petty songs for you to listen to that reflect the mood after the crash earlier today (see What caused the crash? for the theories circulating about its genesis). Tonight, we'll see how Asian…

Highlights The US dollar was stronger vs. the majors as pessimism with regards to Greece intensified yet again after Trichet and ECB offered little in the way of euro support (see below).  Risk off trading picked too late in the day…

Here's what I am hearing. There was a "fat finger" that caused someone to execute a large order for PG, a Dow component at a price in the high 30s when it was trading above 60.  Another word out is that someone entered a $16…

Apparently, Greece isn't Europe's Bear Stearns. It's Europe's Lehman. Take cover.

Well, well ... it seems that the Europe may be important after all or at least that the Greek malaise may be spreading. The EUR/USD at 1.29ish, the AUD/USD looking towards 0.91ish, and all things risky in equity land seems to be entering…

SocGen's Albert Edwards was out with a note today which is in line with my calls for a marked slowing of the economy toward the end of this year. He indicates that the rate of change in leading indicators in the real economy and in markets…

Les marchés font monter la pression sur la Grèce - LeMonde.fr FT Alphaville - Neil Hume - UBS and its 1,350 S&P target Buffett Blunts Finance Rule - WSJ.com CFED: Weathering the Storm: Have IDAs Helped Low-Income…

David Rosenberg of the Toronto-based money manager Gluskin Sheff is out with a note today that measures the U.S. stock market as 35% overvalued based on Shiller P/E ratios. His  conclusions are largely consistent with commentary Jeremy…

Highlights        The US dollar has surrendered yesterday’s gains against most of the major foreign currencies, after the upside momentum stalled in North America yesterday.  The recovery of US…

Remember absurd books like Dow 30,000 or Dow 36,000 or the eponymous Dow 40,000? In 2008, I labelled them "Five Books not to buy." Well somebody must be buying them because Dow 40,000 is implicitly what pension funds are expecting…