Good news for pensioners….
Comments »Monthly Archives: May 2012
IMF: While Rich Get Richer, the Rest Sink Deeper in Debt Read more: IMF: While Rich Get Richer, the Rest Sink Deeper in Debt
Comments »The rich are getting richer these days whereas the bottom 95 percent in the U.S. are falling deeper in debt, a study by International Monetary Fund economists finds.
In 1983, the bottom 95 percent of the U.S. population owed 62 cents in debt for every dollar they earned, the economists find, CNNMoney reports.
By 2007, that number had risen to $1.48 of debt for every $1 in earnings.
Gapping Up and Down This Morning
Gapping up
APKT +11.3%, ARTC +6.2%, INTT +5%, RIG +4.9%, Z +4.7%, GLUU +4.1%, ISIG +4%, CNQR +3.9%,
SNN +3.6%, WFM +2.7%, ALL +2.4%, HTZ +2.3%, TSO +2.1%, AGNC +2%, STD +1.5%, V +1.5%,
Gapping down
MITK -41.2%, GMCR -39%, VCLK -14.4%, WTW -14%, DEG -13.2%, CENT -8.6%, SKUL -8.1%,
UNTD -7.9%, HNSN -6.7%, AXTI -5.9%, NVTL -5.7%, PRU -5.6%, JDSU -5.3%, NMM -5%, PPO -3.1%,
EXXI -3%, HT -2.3%, HOTT -1.9%, THO -1.8%, CXS -1.5%, RIO -1.4%,
Comments »Upgrades and Downgrades This Morning: $ALGN, $BHI, $CACI, $CAB, $CHK, $DVA, $GMCR, $LVLT, $MSCI, $ONXX, $PCLN, $QCOM, $QIHU, $CRM, $TTM
Initial Claims: Prior 392k, Market Expects 375k, Actual 365k
U.S. Equity Preview: $ALL, $GMCR, $PRU, $CRM, $RIG, $VCLK, $V, $WTW, $WFM, $Z
In Play and On the Wires
GM Manages to Beat the Street Despite Slow Sales in Europe
The Challenger Report Says Employers Will Increase Job Cuts by 7.1%
“Planned job cuts increased by 7.1 percent to 40,559 in April from March, the latest job cut report released by outplacement firm Challenger, Gray&Christmas showed on Thursday.
From the same month a year ago, job cuts were up 11.2 percent and so far this year the number of job cuts has increased by 9.8 percent to 183,653.
But despite the year-on-year increase, the monthly average in the first four months of this year is below the 12-month average of last year, the report pointed out.
April’s job cuts were led by the education sector, with a total of 9,027 planned cuts, up 142 percent from March as school districts continue to be under pressure to cut costs amid massive state and local budget deficits. But the pace of downsizing in the sector fell 32 percent from a year ago, the report added…”
Comments »ALBERT EDWARDS: This Is The Biggest Bubble In Recent History, And It’s Heading For The Mother Of All Hard Landings
“You have to love this: The title of Albert Edwards’ latest note is: The biggest bubble in recent history is heading for the mother of all hard landings.
So what’s that bubble?
Australia!
Edwards’ post is building off the work of his colleague Dylan Grice, who wrote about an Australian bubble built on the back of a China bubble in his recent note.
So what’s Edwards’ big complaint with Australia? ”
Comments »ROUBINI: The World Needs to Worry Over War With Iran
“When it comes to predicting a dark future, Nouriel Roubini – the NYU economist who earned the moniker Dr. Doom after he correctly predicted the financial crisis – is not about to let anyone get in his way.
Even if it’s his host. And even, or maybe especially, when there are 500 witnesses.
That’s precisely what happened Wednesday morning, when Michael Milken – the former junk-bond king – shared the stage with Roubini at Milken’s Global Conference. What was billed as an interview in one of the Beverly Hilton’s grand ballrooms had the feel of a pitched battle.
Roubini warned of a massive oil shock following a potential clash between Iran and Israel – or possibly the United States, sometime after the November presidential elections. He talked about geopolitical instability in the Middle East. “It’s a mess,” he said…”
Comments »The ECB Keeps Rates Unchanged
The BoE Will Begin a Punch Bowl Party Despite the Snickering
The bank of England plans to stimulate their economy and “prevent financial crisis by pulling the punch bowl as the party gets started.”
Comments »Iran Oil Sanctions Considered Nearly Impossible to Meet
The shipping market may not be able to meet sanctions given oil is blended with the sweet crude Iran has on hand.
Comments »Asean+3 Increases Their Foreign Reserve Pool and Credit Lines
China, Japan, and Korea Form a Triad Bond Purchase Agreement
Supporting one and other is in their best interst given the troubles in the West.
Comments »Spanish Bonds Relax as Auction Targets are Met
SocGen Beats the Street on Trading Revenues
A Summary of Treasury Yields
Oil Flip Flops Like a Politician
Currently oil is down a bit. WTI is down $0.25 @ $104.97. Brent is down $0.39 @ $117.82
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