Stress tests reveal that the debt crisis will intensify. I think a 5th grader could have figured on that.
Comments »Monthly Archives: July 2011
Italian Bond Yields Blowout to 9 Year Highs
Italian 10 yr notes were up 16 bps to 5.34%. This was the 5th consecutive day that bonds fell and yields climbed. Also Portugal, Spain, and Ireland have seen similar performance as worries continue over the debt crisis.
Comments »FLASH: NFIB Lowers Employment by 0.23…In the Next 3 Months Employers Plan to Add Workers
Asia Opens Higher Posting 1+% Gains in Early Trade
I know risk is on, but it feels like some one let the cat out of the bag on tomorrow’s NFP. Perhaps its my imagination and the volume is the key to pushing things around in these here markets.
Any way bearshitters beware.
Comments »Fun With Cocktails
Former National Security Advisor Brezinski Warns of a Ominous Future (video)
The growing divide between have and have not may cause civil unrest according to Brezinski….
Comments »Yellowstone is Partially Blackstone Now
About 240 miles of river has been stained with oil. Man is certainly his own worst enemy.
Comments »Service Providers Recruited to Stamp Out Pirates
I once recall recording music off the radio and video taping movies from the tv. Is downloading any different ?
Comments »Stealth Bull Market Under Way; Today’s New 52 Week Highs & Lows
Highs
AMZN, BBBY, BEBE, DLTR, NFLX, DISH, DTV, NKE, RL, N, M, TJX, DSW, JWN, KR, TDC, BMC, DELL, EGHT, ACN, WYNN, AXP, ADS, CRM, LVLT,CAH, XLNX, BEAV, ALKS, CERN, ERTS, TIF, WEN, VFC, HOTT, GMCR, JVA,CSX, FDX, VIA.B, WCG, CMG, V, GGP, FLO, JCI, JNJ, KO, UTX, MA, EAT,
Lows
SOMX, BMTI, GMR, AIB, FST, LL,
Comments »High Speed Trading Leaves The Little Guy a Few Pennies Short
This was an interesting study done on electronic trading. It is getting harder to trade off one minute charts since volumer burst may not actually be occurring in real time.
Comments »Paul Farrell of Market Watch: “We Need A Good Depression”
Commentary on why we need not raise the debt ceiling. 7 reasons for a “good depression”
Comments »Expansionary Austerity: An IMF Paper Descibing How Austerity Does Not Lead to Growth
Obama Administration lengthens foreclosure process
Comments »WASHINGTON (AP) — The Obama administration is making it easier for out-of-work homeowners to stay in their homes, as it tries to revamp its troubled foreclosure-prevention program.
Starting Aug. 1, the Federal Housing Administration will extend the period for unemployed homeowners to miss mortgage payments to a full year from three or four months. That will allow qualified homeowners to go without making a monthly payment for 12 months before the foreclosure process begins.
The extended grace period only applies to FHA-backed loans, which are usually given to low- and middle-income borrowers and represent about 14 percent of all active mortgages and roughly 25 percent of new mortgages, and homeowners in the government’s foreclosure-prevention program. About 10,000 homeowners in the foreclosure program and 3,500 FHA-backed homeowners per month would be eligible, officials said.
Housing and Urban Development Secretary Shaun Donovan said Thursday that administration officials hope private lenders and government-controlled mortgage giants Fannie Mae and Freddie Mac, which back 90 percent of all new mortgages, will adopt a similar policy.
“Our hope is that this will have broader effects,” Donovan said during a conference call.
A Scary Financial Prediction
Crack Spreads Nearing New Highs
Up 8.8% today to $31.30.
Comments »Agent Orange Being Used In the Amazon Rain Forest
JPM Pays a Fine For Multi Year Bid Rigging Scandal
According to all these settlements anyone should be able to commit fraud and then pay a paltry fine for doing so. Then they can abscond with 90% of the money they received from fraudulent behavior.
Comments »Birinyi: Too Many Pessimists Are Overstating Economy’s Woes
Laszlo has been spot on for two years now.
“You’d be surprised how many good things are happening in the economy,” Birinyi tells CNBC.
“I’ve always argued the negative case is always more articulate, it’s always more intelligent, it’s always more compelling because it looks at the now. The market looks ahead,” says Birinyi.
Comments »Economist Begin to Agree That the Stimulus Was a Bust
The way the money was spent was probably the issue rather than the printing and issuing of the money supply.
Comments »El- Erian Thinks There is a Low Probability of QE 3
“We would assign a low probability (at) this stage to QE3 given the general recognition that the forward-looking cost-benefit analysis has shifted away from the potential benefits and toward greater costs and risk,” El-Erian, co-chief investment officer of Pimco, said in a live blogging question and answer session on Reuters.com.
“Therefore, it would take a major further deterioration in the economic outlook, combined with a willingness by the Fed to take greater reputational and political risks,” he said.
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