Well, I love to say I told you so. Commerce Department said the US economy grew by an anemic 0.2% for the first quarter. Well below the street’s expectations, but not mine. Later in the day Fed chief Janet Yellen release the statement from the Open Market Committee, which said the Fed is no longer […]
Monthly Archives: April 2015
There doesn’t not seem to be any market memory from one day to the other. Each trading hour has a different focus and direction. It’s as if traders suffer from Alzheimer’s when it comes to direction. Monday gold was up over $20 an ounce, Tuesday selling off slightly after being hit over the last three […]
Fitch came out Monday with a downgrade of Japan’s debt to A from A+. Moody’s downgraded Japan in Dec. In its report Fitch noted, “prospects for success in permanently lifting the economy’s real and nominal GDP growth rates remain in doubt.” Japan has been attempting to jump start the economy for the last 25 years […]
Work got in the way the past two days, my apologies. First, the FBI charges a “bone idle” day trader operating in his parent’s basement outside London near Heathrow Airport with bringing down — in a flash crash — the most liquid market in the world. Please, that makes me laugh. It’s even more absurd […]
So as the Troika tees up the Greek can to kick it further down the road this week, despite the usual warnings about that not happening, rioting is again going on in the streets as the Greek central bank has told all other Greek cities and towns to forward their reserve cash to Athens. Meanwhile, […]
Two very interesting news items trickling out of China on Monday that bear watching. First the macro, which says the Chinese central bank is beginning a long-term refinancing operation to buy up high interest debt. Chinese banks will buy high-interest bonds — both public and private debt — at near-zero interest money from the central bank […]
Well anyone reading here already knew this, but WSJ’s Jon Hilsenrath — often referred to as the Fed’s mouthpiece — writes that the Fed may not be able to raise rates at June meeting. As Hilsenrath writes, recent data has been soft. As I have written, data has been soft all year going back to […]
