Doug Noland

Prudent Bear

Contributor since: 26 Feb 2010

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• The Trial and Tribulations of Risk Intermediation Folly

  Published 24 September 2004 | viewed 4,104 times

  Surging crude prices, along with unsettled trading in global commodity, currency, and debt markets, weighed on international equities this week. Here at home, the Dow…

• Q2 2004 "Flow of Funds"

  Published 17 September 2004 | viewed 4,036 times

  UNEDITED! The week seemed to confirm the resiliency of "global reflation," with prices of things real and financial biased upward (inflating). As for U.S. equities,…

• Bubble Bubble Mortgage Trouble

  Published 10 September 2004 | viewed 4,637 times

  UNEDITED! Global equity, currency, interest-rate, and commodity markets remain quite choppy. Technology issues led U.S. stocks this holiday-shortened week. For the week, the Dow gained…

• Credit Bubble Bulletin

  Published 03 September 2004 | viewed 6,855 times

  Despite technology weakness, stocks finished the week mildly higher. For the week, the Dow gained 0.6% and S&P500 gained 0.5%. The Transports added 1.1%, while…

• Bubble at the Fringe

  Published 27 August 2004 | viewed 4,425 times

  UNEDITED! Stocks generally added to recent gains. For the week, the Dow and S&P500 gained about 1%. The Transports added 0.6%, while the Utilities were…

• Speculative Finance and Liquidity Bulges

  Published 20 August 2004 | viewed 8,196 times

  UNEDITED! Stocks came charging back. For the week, the Dow and S&P500 gained 3%. Economically sensitive issue performed well, with the Transports up 4% and…

• The Fragile Stability of Monetary Disorder

  Published 13 August 2004 | viewed 3,886 times

  UNEDITED! Unsettled conditions prevail throughout global financial markets, although U.S. stocks were generally little changed. The Dow, S&P500, Transports and Utilities were largely unchanged for…

• Revisiting Financial Arbitrage Capitalism

  Published 06 August 2004 | viewed 4,143 times

  Wow, what a week. Global equities were hammered, while bond prices spiked higher. Here at home, the Dow and S&P500 were hit for 3%. Economically…

• Trouble at The Core

  Published 30 July 2004 | viewed 4,928 times

  UNEDITED! The stock market enjoyed broad-based gains. For the week, the Dow gained almost 2% and the S&P500 added better than 1%. Economically sensitive stocks…

• The Great Mortgage Spread Trade

  Published 23 July 2004 | viewed 6,047 times

  UNEDITED! Global equity markets remain under pressure. For the week, the Dow declined almost 2% and the S&P500 dipped more than 1%. The Transports declined…

• The Financial Sector Earnings Illusion

  Published 16 July 2004 | viewed 4,334 times

  UNEDITED! Financial markets have become quite intriguing, both at home and abroad. Here at home, the Dow and S&P500 dipped about 1%. Economically sensitive issues…

• Outside the Box

  Published 09 July 2004 | viewed 3,429 times

  UNEDITED! The stock market was weak, with the more speculative areas of the marketplace under the heaviest selling pressure. For the week, the Dow and…

• Ebbs & Flows and Dollar Woes

  Published 02 July 2004 | viewed 3,260 times

  UNEDITED! Stocks were generally on the defensive, with the Dow, S&P500, and Transports declining around 1%. The Morgan Stanley Cyclical index declined 2%. The Morgan…

• The Mortgage Finance Bubble

  Published 25 June 2004 | viewed 4,585 times

  UNEDITED! While the major averages may have been relatively unchanged, things seemed to be percolating somewhat below the surface. For the week, the Dow was…

• Monetary Instability and Lessons Not Learned

  Published 18 June 2004 | viewed 3,969 times

  UNEDITED! It was relatively quiet. For the week, the Dow and S&P500 were about unchanged. Economically sensitive issues general shined, with the Transports up 1.5%…

• Lying in Wait?

  Published 11 June 2004 | viewed 3,680 times

  UNEDITED! For the week, the Dow gained 1.6% and the S&P500 added just over 1%. The Transports and Morgan Stanley Consumer indices gained 1%. The…

• Inflation Accommodation

  Published 21 May 2004 | viewed 4,738 times

  UNEDITED! Relative calm returned this week to global financial markets, with Asian equity markets notably regaining their composure. U.S. equities were choppy, but generally little…

• Money and The Flip-side of Speculator De-leveraging

  Published 14 May 2004 | viewed 4,075 times

  Global financial markets remain unstable, although U.S. markets somewhat stabilized. For the week, the Dow declined about 1%, while the S&P500 was about unchanged. The…

• Faltering "Financial Sphere"

  Published 07 May 2004 | viewed 3,529 times

  UNEDITED! Heightened systemic risk has decidedly returned to global financial markets. For the week, the Dow dipped about 1% and the S&P500 declined slightly less…

• Federal Reserve Miracle?

  Published 30 April 2004 | viewed 6,035 times

  VERY UNEDITED! Extraordinary uncertainty and heightened financial stress are beginning to more clearly resonate. For the week, the Dow declined 2% and the S&P500 dropped…