China bought less than a sixth of the Treasuries issued in the 12 months through March. Less than two years ago, by contrast, Chinese purchases of Treasuries, which included purchases in the secondary market as well as newly issued securities,…
With the Fed slashing the funds rate to 1% today, it’s worth remembering what happened the last time they did this: We got the most massive housing bubble in the history of mankind. Well, today, in the midst of this…
I’ve come across some really good pieces the last couple of days that I want to share: “Generalists can have some advantages, including being able to ‘focus on the true, single hinge issue’ of a company’, says Lisa Shalett [former…
The people who created this country built a moral structure around money. The Puritan legacy inhibited luxury and self-indulgence. Benjamin Franklin spread a practical gospel that emphasized hard work, temperance and frugality. Millions of parents, preachers, newspaper editors and teachers…
The unemployment rate rose from 5.0 to 5.5 in May, and nonfarm payroll employment continued to trend down (-49,000), the Bureau of Labor Statistics of the US Department of Labor reported today. – May Jobs Report, BLS If Iran continues…
A confluence of bad news combined to drive down stocks today. First, and most important, was the assasination of Pakistani opposition leader Benazir Bhutto (subscription required). This reminds everybody of the high level of geopolitical risk in our globalized economy. (If…
The market has really sold off over the last couple hours. After being up strongly at the open on strong earnings news from Intel and others, the market has pretty much tanked (Nasdaq Chart). It looks like one of the…