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Monthly Archives: September 2012

Comments From the ECB Thus Far

FYI this does not sound like “what ever it takes”

Here is what Draghi has said so far.

Sterilized buying. Mostly short term note purchases.

He is asking for conditions to be followed or else the bond purchase program can be terminated at any time.


Full commentary 

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Planned Layoffs Drop in August

” The number of planned layoffs at U.S. companies dropped for a third straight month in August and hit a 20-month low, a report showed on Thursday.

Employers announced 32,239 planned job cuts last month, down 12.5 percent from 36,855 in July, according to the report from consultantsChallenger, Gray & Christmas Inc.”

Full article

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Obama Okay with Removing God and Jerusalem from Democratic Platform

Gotta love the optics of the Democrats booing “God” and “Jerusalem” when the floor vote was taken to add the language back in the platform. To be honest though, is this really a revelation? Anyone who pays attention knows the Democrats worship at the alter of Government…

Obama had seen the language prior to the convention, a campaign source said, but did not seek to change it until after Republicans jumped on the omissions of God and Jerusalem late Wednesday. And even then, it had to be forced through a convention hall full of delegates who nearly shouted down the change.

Read the rest here.

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Is the Stock Market Voting for Obama?

Mr. Market loves cronyism:

Mr. Market seems to be screaming “four more years.”

According to a new report by Capital Economics, it appears investors would prefer President Obama to stay in office for another term as opposed to Mitt Romney getting elected.

“The close relationship between President Obama’s chances of re-election and the level of the S&P 500 appear to suggest that the stock market favors a Democrat as president,” says Paul Dales, senior U.S. economist at Toronto-based Capital Economics.

Read the rest of the article (well worth a read) here.

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Obama Is Wrong on Romney Tax Plan Impact: Reality Check

Bloomberg joins the fact-checking fray:

In the heat of the presidential campaign, both sides have made statements that don’t square with reality. Here’s a look at some claims compared with the facts.

Read the rest here.

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Fact-Checking the Democratic Platform

Believe it not, from the NY Times:

The Democratic Party platform, released this week during the convention in Charlotte, N.C., contained a number of exaggerated or misleading claims in civil liberties and housing.

Read the rest here.

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The Untold Story Of How Clinton’s Budget Destroyed The American Economy

Bill Clinton is giving the keynote speech at the Democratic National Convention tonight.

The idea is to make people feel nostalgic for the last time when the economy was really booming, and hope that some of that rubs off on Obama.

However, in the New York Post, Charlie Gasparinouses the occasion to remind everyone that the seeds of our current economic malaise were planted during the Clinton years.

Read the rest here.

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Obama’s Thursday Night Secret About Jobs

Will the futures markets be watching closely for clues?

When President Barack Obama takes the stage Thursday night at the Democratic convention, he’ll probably know a secret about the economy that you don’t: the contents of Friday’s employment report. But don’t expect easy clues in his big speech.

Read the rest here.

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Hackers Hold Mitt Romney’s Allegedly Stolen Tax Returns for Ransom

Gee, you think they can get Obama’s college transcripts?

Mitt Romney’s tax returns are reportedly in the hands of a team of hackers who are planning on releasing them publicly at the end of the month unless a ransom is paid.

The group allegedly obtained the files from PricewaterhouseCoopers’ Tennessee office on Aug. 25, in what was described as a Mission Impossible-like caper on PasteBin:

Read the rest here.

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Goldman’s Kaiser: Stock Selloff Coming in 9 Days

“Investors need to brace themselves for a massive stock selloff coming in nine days, says Stuart Kaiser, an equities strategist at Goldman Sachs.

Stock indices have risen on hopes the European Central Bank (ECB) will announce plans to buy sovereign bonds to lower borrowing costs in countries such as Italy and Spain, while the Federal Reserve has said it cannot rule out stimulating the economy, likely through a third round of quantitative easing (QE).

QE sees the Fed buy bonds such as Treasury holdings or mortgage-backed securities from banks, pumping the economy full of liquidity in a way that drives down interest rates across the economy and sending stocks rising as a side effect.”

Read more

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Market Update

U.S. equities continue to chop around remaining in positive territory.

Rumors of unlimited bond purchases by the ECB have U.S. and European equities in positive risk on mode….Europe more so than the U.S.

The dollar is down and oil is paring losses. Gol is essentially flat on the day thus far.

The euro managed to break above 1.25 and is hopeful that “what ever it takes” will be done.

The world waits on Draghi’s statement tomorrow.

Market update 

3 d heat map

European boards

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