Fed leaks lead to billions on Wall Street balance sheets

My collegue at The New York Post, John Crudele, wrote on Monday about how the New York Fed President Bill Dudley, back in 2011, was meeting with the Street during “quiet periods” at the Fed. Crudele FOIAed Dudley’s calendar to see who is was lunching with during the tumultuous time in 2011.The quiet period is […]

You must remember this a Fed leak is just a leak, on that you can rely

“I’m shocked, shocked to find that gambling is going on in here!” says Captain Renault in “Casablanca”. Richmond Fed President Jeffrey Lacker resigned immediately yesterday after confessing he leaked Fed meeting information to a hedge fund  advisory firm days before the minutes from a previous meeting were to be released in Oct. 2012. The firm, Medley […]

Equities see “known unknowns” as bullish

Let’s say it is safe to say that the level of animosity in Washington will lead to divided government for the foreseeable future, despite the Republicans holding a sliver of power within Congress. That premise can only be good for equities as investors see gridlock as a means to remain with the status quo. Markets […]

Order now and we’ll throw in some IPO shares

“It dices, it slices.” It could be a sign of the top of the stock market. Ronco Brands, the infamous late night infomercial gadget maker once led by founder Ron Popeil who peddled the Veg-O-Matic and the Pocket Fisherman on TV, has filed to go public. The Austin, Texas is seeking to raise $30 million […]

Brexit means entering the bond market

The equity market churn with a volatility that’s almost nonexistent is creating huge moves in the bond pits. As stocks move in a range for the last week or so and the VIX moving toward single digits, the 10-year note is trading at 2.3%. This is about where it was right after the election when […]

Prime Minister May signs EU divorce papers

British Prime Minister Theresa May signed the EU divorce papers on Tuesday. Brexit has officially begun as foreign exchange response seems to be muted as both the pound and euro traded off slightly against the dollar. US equities and bonds were also nonplussed by the much-anticipated move by the Brits. City of London bankers from […]

Trump’s spring will provide no breaks after ObamaCare fiasco

After Friday’s fiasco on the ObamaCare vote I believe we will see the beginning of the Trump dump. This may take equity markets down as much as 20% from the post-election highs as a “Do-Nothing” Congress stymies the White House at any move. Congress will want tax cuts, but not this year. They want those […]