Bond Market Blues

By MICHAEL GRAY The Chicago bond market is possible the only bourse telling the truth about the hyper-inflationary future, caused by the Obama administration’s plan never to let a crisis pass without overhauling government. Yields on US Treasuries are soaring in the longer maturities as Uncle Sam floods the market with debt to fund Washington’s […]

Dollar Daze

By MICHAEL GRAY One of the earliest green shoots in the recent economic snapback was the dollar. However the dollar index is now at its lowest level of the last 12 months. This should come as no surprise to Washington. President Barack Obama’s budget aside, which has global finance ministers leery about the future of […]

Parlor Game

By MICHAEL GRAY Could this scenario circulating through the Web be the answer to the derivative nightmare? Since many counterparties in the derivative market may be the same firm in many swaps and CDOs, this example could be over complicated. Please let me know what you think. It is August. In a small town on […]

Grading The Stress Test On A Curve

By MICHAEL GRAY So Treasury, FDIC and other federal bank regulators have released their report cards for the 19 biggest institutions and there were no Fs. It appears there was some grade inflation though. I cannot get a comment, but it appears from the report that the worst-case scenario was not used to account for […]

Stressing Over The Test (Part 2)

By MICHAEL GRAY Tomorrow will not be a bank holiday. Half of the 19 banks that underwent the Obama administration’s stress test will have a need to raise capital according to the best-case scenario. That will be the headline on the news, but perhaps 16 of 19 banks will need to bolster reserves under the […]

Stressing Over The Test

By MICHAEL GRAY Banking analyst Paul Miller released a report stating that 14 of the 19 largest banks will need additional capital after Treasury releases the stress tests results late next week. The test were originally scheduled to be released Monday, but according to sources within Treasury the banks are balking at Tim Geithner’s staff […]