The Daily Links Post: 2010-12-09
Today's daily links include finance-related news articles on gold, WikiLeaks, China, LDS legal woes and more. Credit Writedowns articles of note are on Italy, Emerging Markets and the recent tax cut deal.
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financial news
Jobless claims down 17,000; 4-week average also down
In the week ending 4 Dec 2010, initial claims for unemployment insurance in the US fell to a seasonally-adjusted figure of 421,000. This is a decrease from the revised 438,000 measured the week prior. The more followed 4-week average figure…
Ireland’s Rating Cut, Dollar Continues to Rally
Highlights The US dollar headed higher, except against the Australian dollar, but continues to outperform against the rest of the G10. The euro, after earlier losses accelerated around $1.332, traded below $1.320 following the news that…
The Daily Links Post: 2010-12-08
These first posts are on QE. My view is that QE won't work. The fundamentals are negative for a lot more credit growth and the Fed has concentrated on QE quantity instead of QE price i.e. rate. The result, predictably, is that rates are not…
Rise in Bond Yields Drives Dollar Strength
Highlights The US dollar headed higher amid a rise in tension on the Korean Peninsula and more importantly a surge in US bond yields with the 10-year increasing by 7bp today. The euro tested levels under $1.320 but sovereign support,…
The Daily Links Post: 2010-12-07
Daily links today include more on quantitative easing, the inflation-deflation debate and the European debt crisis. Also see a number of bullish data reports that point to recovery. The key obstacles remain housing, commodity price…
Irish Budget Likely to Pass, Euro Relief Temporary
Highlights The US dollar is mostly lower on news that US President Obama reached an agreement to extend the Bush tax cuts for another two years, which has lifted stocks and buoyed risk appetite, despite the speculation that China may…
Monday Links on America’s Seduction, Europe and Bernanke’s Money Printing
The lead post here is from CW contributor John Lounsbury on the seduction of America. He wrote the original version in the Spring of 2009; yet, this piece is as relevant today as it was then – a must read. Then there is Felix Salmon's post…
Market Turns it Attention Back to Europe on Eurobond and Hungary
We have long argued that there was less to the EFSF that met the eye due to the need to maintain AAA rating when most members are rated lower. However, to increase the guarantees now could signal that officials are preparing to have to…
Sunday Links feature Japan as a Buy and Munis as a Sell
Below are today's links. The must-read links are from Edward Chancellor on Japan and the two links on state debt woes fron the New York Times and the Atlanta Journal-Constitution. I also recommend the Baseline Scenario link which goes…