A Look at Interest Rate Risk

A good read on what may happen if and when interest rates rise….

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” LONDON (AP) – Yahoo Inc. said Thursday it is investigating reports of a security breach that may have exposed nearly half a million users’ email addresses and passwords”

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Background story

I say not really, but the timing is something to consider given so many negative earnings pre-announcements…

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“The Federal Reserve’s monetary policy stimulus measures rolled out since the downturn have had little impact on the economy, says former Fed Chairman Alan Greenspan.

Since the downturn, the Fed has rolled out two rounds of quantitative easing, known widely as QE1 and QE2, snapping up $1.7 trillion in mortgage securities held by banks and another $600 billion in Treasury instruments with the aim of steering the country away from deflationary decline while creating conditions ripe for investing and hiring via the massive liquidity injections. ”

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“Netflix has seen the amount of video its subscribers watch drastically increase over the past few months: In the fourth quarter, Netflix announced that it had topped 2 billion viewing hours during the three month period. Then, in June, it reached a billion viewing hours in that month alone. But what are viewers watching? According to research firm Nielsen, the growth in video viewing at the streaming provider coincides with an increase in the percentage of subscribers who are relying on Netflix to watch TV shows.”

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“On a day when the reflexive NEW QE knife-catchers seem to have stepped away from the desk, we thought it useful to get some cognitive clarity on where exactly Treasuries think the post-FOMC-disappointment equity market is likely to end up in the short-term (especially as they retrace all the way down to yesterday’s low yields). It seems, as we noted yesterday, that bonds believe ES needs to be well under 1300 before deflationary concerns rear their ugly head and NEW QE can be back on the table.”

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Hopium is in good stock as markets slip this summer and as some say the economy is worse than you think.

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China is set to launch a rare earth minerals exchange in August. Get ready for fuckery…..

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“CHICAGO, July 12, 2012 /PRNewswire/ — Boeing (NYSE: BA) announced today an order by United Continental Holdings, Inc. (NYSE: UAL) and its wholly owned subsidiary, United Air Lines, Inc., for 150 737 airplanes, including 100 of the new 737 MAX 9. United, the world’s largest airline by traffic, is the latest carrier to choose the newest member of the 737 family, which today eclipsed 10,000 orders overall.

The deal, worth $14.7 billion at list prices, also includes 50 Next Generation 737-900ERs (Extended-Range).

“This order is a major step in building the world’s leading airline, and we look forward to offering our customers the modern features and reliability of new Boeing airplanes, while also making our fleet more fuel efficient and environmentally friendly,” said Jeff Smisek, United’s President and CEO. “New aircraft deliveries support our flexible fleet plan, permitting us to tailor future capacity up or down, based on changes in demand or other market conditions.”

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We shall see if this a trend or a blip in the making.

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Desperate measures to get listings by brokers.

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“Procter & Gamble Co. (PG) and Philip Morris International Inc. (PM) found a common culprit for weaker financial results in recent weeks: changes in currency values.

P&G, the world’s largest consumer products company, had initially been counting on foreign exchange to bolster results this year. Instead, Chief Executive Officer Robert McDonald told investors last month it’s turned into “a strong headwind” that may have cut about $3 billion in revenue and at least $400 million in profit from previous projections.”

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“(Reuters) – July 12 (Reuters) – Warren Buffett made some of his most pessimistic comments on theeconomy in recent memory on Thursday, telling CNBC that things have slowed in the United States in the last six weeks.

Buffett, in a live interview, said Europe had also experienced a “pretty fast” slowdown in recent weeks as spending declined.

The 81-year-old “Oracle of Omaha” said that even as the economy cooled off, residential housing was starting to pick up, albeit off a low base.

Buffett’s Berkshire Hathaway is heavily exposed to residential construction and real estate sales, and he has said the economy would really pick up only when the housing market finally turns around.”

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“The European Central Bank said overnight deposits from financial institutions dropped by more than half to the lowest level in almost seven months after policy makers stopped paying interest for the funds.

Banks in the 17-nation euro region parked 324.9 billion euros ($397.2 billion) at the ECB yesterday, down from 808.5 billion euros the previous day, the Frankfurt-based institution said. That’s the least since Dec. 21.”

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Does anyone see the continuity of settlements beefing up the wallets of government ? One could argue that this is ultimately tax payer money in a 3 card monte style game of paying settlements and not admitting to guilt or having anyone go to jail.

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Gapping up

DRWI +13.8%, DCTH +4.4%, MRK +4.3%, GNOM +6.1%,  DRYS +2.2%, FRO +1.5%,

NTWK +12.6% , TRIB +1.2%,

Gapping down

SVU -28.2%, CALX -22.1%, PSLV -4.2%, SAP -3.5%, BHP -3.4%, DB -3.3%,

IMGN -3.2%, BBL -2.7%, RIO -2.4%, HOLX -2.1%, SFD -0.9%, AGP -0.2%,

DAL -3.2%, UAL -1.6%,  PRGO -1.6%

ADTN, AMCX, ADM, BBVA, BHP, CSIQ, CVX, DAL, FDO, FDX, HSH, JBLU, LXK, LDK, MRK, PG, RHT, LUV, SPWR, SVU, TSN, UAL, VLO, DIS,

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In Play ,

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