The Case For 'Dollar Backwardation' [View article]
I'm not aware of any gold currencies. Gold has collector value, speculative value, and a small bit of industrial value. There's no use of it as a currency.
U.S. Flash PMI (first ever) for May 53.9 vs. April's final read of 56.0. It indicates the slowest level of expansion in three months. New Orders 54.8 Vs. 56.9. Backlogs of Work 51.7 vs. 52.2. Input prices 56.3 vs. 63.1. Output prices 52.8 vs. 53.9. [View news story]
Economies of both China and Indonesia are still growing. "China slowing" still means 8% growth (so far).
The "Death of Equities?" John Authers and Kate Burgess explore the end of more than a half-century "passion for equities," as institutions shed stock exposure for fixed income. The authors suggest stocks' relative cheapness is more about low bond yields, and unless said yields are going to go negative, any tailwind to equity prices from fixed income is about used up. (see also) [View news story]
From a funds flow perspective, this just means there's undeployed capital that will probably return to the stock market at some point. It's good news for equities.
U.S. Flash PMI (first ever) for May 53.9 vs. April's final read of 56.0. It indicates the slowest level of expansion in three months. New Orders 54.8 Vs. 56.9. Backlogs of Work 51.7 vs. 52.2. Input prices 56.3 vs. 63.1. Output prices 52.8 vs. 53.9. [View news story]
Michael, what does politics have to do with the PMI reading?
U.S. Flash PMI (first ever) for May 53.9 vs. April's final read of 56.0. It indicates the slowest level of expansion in three months. New Orders 54.8 Vs. 56.9. Backlogs of Work 51.7 vs. 52.2. Input prices 56.3 vs. 63.1. Output prices 52.8 vs. 53.9. [View news story]
What are you talking about Lakeaffect? Markit isn't under any obligations to the pubic. You either pay for their data or you don't. Apparently a lot of banks and hedge funds choose to pay for their data because otherwise they wouldn't still be around.
U.S. Flash PMI (first ever) for May 53.9 vs. April's final read of 56.0. It indicates the slowest level of expansion in three months. New Orders 54.8 Vs. 56.9. Backlogs of Work 51.7 vs. 52.2. Input prices 56.3 vs. 63.1. Output prices 52.8 vs. 53.9. [View news story]
enigmaman, PMI isn't a government stat. It's put out by Markit Economics, a private, for-profit business.
U.S. Flash PMI (first ever) for May 53.9 vs. April's final read of 56.0. It indicates the slowest level of expansion in three months. New Orders 54.8 Vs. 56.9. Backlogs of Work 51.7 vs. 52.2. Input prices 56.3 vs. 63.1. Output prices 52.8 vs. 53.9. [View news story]
The Case For 'Dollar Backwardation' [View article]
The entire thesis of this article is that gold will go up in value because gold always goes up in value. Ignore the real world in which gold prices are declining. Only believe.
Alpha Natural Resources: Estimating Risk Using The Altman Z-Score [View article]
Morningstar recently had an article on S.A. in which they opined that ANR may face solvency problems within the next year. There's also been some widening of their CDS spreads -- nothing dramatic but I'm starting to ask if I should change my investment thesis (currently long ANR).
When I first looked at coal companies, I passed over PCX because it looked like a bankruptcy risk. ANR, ACI, and BTU looked much more stable. But now there's some questioning of ANR's stability as well. I think the next couple of quarters will be important to watch. PCX seems to have been knocked flat on its back by a customer default. That seems like a management failure to me -- such defaults are obvious risks. Management skill in these at-risk companies would seem to be another important factor to analyze.
Why Europe Could Cause The Next Down Leg In The Market Even As The European Economy Remains Stabile [View article]
Your article is nothing more than a vehicle for making snide political remarks and innuendos. You claim the Tea Party has ridden to the rescue and is cutting back spending and preventing the Federal Reserve from applying monetary stimulus. To which I reply, Hogwash. The Tea Party is straining at to break free of the fiscal restraints imposed by the debt ceiling agreement and is already introducing spending bills that would drive deep deficits. Nor are they influencing the actions of the Federal Reserve. That's pure fabrication.
Why Europe Could Cause The Next Down Leg In The Market Even As The European Economy Remains Stabile [View article]
You're evading both the questions and the truth. Twist was a monetary stimulus. Republicans have always been big spenders and the Tea Party, as a more extreme version of Republicans, are proving themselves to be even bigger spenders. And spending during an election year is the oldest gimmick in the book.
Why Europe Could Cause The Next Down Leg In The Market Even As The European Economy Remains Stabile [View article]
"prior to this past year, the Obama and the Bernanke were committed to pursuing aggressive forms of fiscal and monetary policy. Now, with the tea party running the House of Representatives, the U.S. in an election year, and the job market still weak despite nearly 2 years of aggressive stimulus, the Fed has not pursued any new monetary stimulus programs of recent."
This is not only lame, it's factually inaccurate.
Do you somehow think the t-frosh are controlling the Fed? What do you think Twist is? If you're trying to sneak in political propaganda that the t-party is somehow fiscally responsible, explain why they've just introduced a budget bill to spend billions on weapons that the Pentagon says it doesn't want and doesn't need. And why, pray tell, are these same tea party Reps so desperate to break the debt-ceiling deal so they can spend spend spend? That's the inaccurate.
As for the lameness, your snide implication that spending is on hold because it's an election year is ridiculous on its face. Any candidate who wanted re-election desperately would be spending like crazy. Ask yourself yet again, why are the tea party Reps spending like crazy? Hint: it's an election year.
Take it for what it's worth, but chatter across the wires says Angela Merkel has made a verbal bank deposit guarantee for the entire eurozone. [View news story]
The Case For 'Dollar Backwardation' [View article]
U.S. Flash PMI (first ever) for May 53.9 vs. April's final read of 56.0. It indicates the slowest level of expansion in three months. New Orders 54.8 Vs. 56.9. Backlogs of Work 51.7 vs. 52.2. Input prices 56.3 vs. 63.1. Output prices 52.8 vs. 53.9. [View news story]
The "Death of Equities?" John Authers and Kate Burgess explore the end of more than a half-century "passion for equities," as institutions shed stock exposure for fixed income. The authors suggest stocks' relative cheapness is more about low bond yields, and unless said yields are going to go negative, any tailwind to equity prices from fixed income is about used up. (see also) [View news story]
The Case For 'Dollar Backwardation' [View article]
U.S. Flash PMI (first ever) for May 53.9 vs. April's final read of 56.0. It indicates the slowest level of expansion in three months. New Orders 54.8 Vs. 56.9. Backlogs of Work 51.7 vs. 52.2. Input prices 56.3 vs. 63.1. Output prices 52.8 vs. 53.9. [View news story]
U.S. Flash PMI (first ever) for May 53.9 vs. April's final read of 56.0. It indicates the slowest level of expansion in three months. New Orders 54.8 Vs. 56.9. Backlogs of Work 51.7 vs. 52.2. Input prices 56.3 vs. 63.1. Output prices 52.8 vs. 53.9. [View news story]
U.S. Flash PMI (first ever) for May 53.9 vs. April's final read of 56.0. It indicates the slowest level of expansion in three months. New Orders 54.8 Vs. 56.9. Backlogs of Work 51.7 vs. 52.2. Input prices 56.3 vs. 63.1. Output prices 52.8 vs. 53.9. [View news story]
U.S. Flash PMI (first ever) for May 53.9 vs. April's final read of 56.0. It indicates the slowest level of expansion in three months. New Orders 54.8 Vs. 56.9. Backlogs of Work 51.7 vs. 52.2. Input prices 56.3 vs. 63.1. Output prices 52.8 vs. 53.9. [View news story]
The Case For 'Dollar Backwardation' [View article]
Alpha Natural Resources: Estimating Risk Using The Altman Z-Score [View article]
When I first looked at coal companies, I passed over PCX because it looked like a bankruptcy risk. ANR, ACI, and BTU looked much more stable. But now there's some questioning of ANR's stability as well. I think the next couple of quarters will be important to watch. PCX seems to have been knocked flat on its back by a customer default. That seems like a management failure to me -- such defaults are obvious risks. Management skill in these at-risk companies would seem to be another important factor to analyze.
Why Europe Could Cause The Next Down Leg In The Market Even As The European Economy Remains Stabile [View article]
More fabrication.
Why Europe Could Cause The Next Down Leg In The Market Even As The European Economy Remains Stabile [View article]
Why Europe Could Cause The Next Down Leg In The Market Even As The European Economy Remains Stabile [View article]
Why Europe Could Cause The Next Down Leg In The Market Even As The European Economy Remains Stabile [View article]
This is not only lame, it's factually inaccurate.
Do you somehow think the t-frosh are controlling the Fed? What do you think Twist is? If you're trying to sneak in political propaganda that the t-party is somehow fiscally responsible, explain why they've just introduced a budget bill to spend billions on weapons that the Pentagon says it doesn't want and doesn't need. And why, pray tell, are these same tea party Reps so desperate to break the debt-ceiling deal so they can spend spend spend? That's the inaccurate.
As for the lameness, your snide implication that spending is on hold because it's an election year is ridiculous on its face. Any candidate who wanted re-election desperately would be spending like crazy. Ask yourself yet again, why are the tea party Reps spending like crazy? Hint: it's an election year.
Take it for what it's worth, but chatter across the wires says Angela Merkel has made a verbal bank deposit guarantee for the entire eurozone. [View news story]