Doug Noland

Prudent Bear

Contributor since: 26 Feb 2010

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• Fannie and Freddie to the Rescue?

  Published 23 April 2004 | viewed 6,118 times

  UNEDITED! Equities were successful in focusing on earnings reports and strong economic data, while looking away from the bond market. For the week, the Dow…

• Tightening Lite?

  Published 16 April 2004 | viewed 3,477 times

  UNEDITED! Unfriendly developments for global bond markets kept financial markets generally on edge. For the week, the Dow was slightly positive, while the S&P500 was…

• Ideologues and Quagmires

  Published 09 April 2004 | viewed 3,540 times

  Stocks were fractionally lower this week. The Dow declined 0.3% and the S&P500 dipped 0.2%. The Transports and Utilities each declined better than 1%. The…

• The Quest for Monetary Order

  Published 02 April 2004 | viewed 3,859 times

  UNEDITED! Unsettled equity markets enjoyed a burst to the upside. For the week, the Dow gained 2.5% and the S&P500 rose 3%. Economically sensitive issues…

• Pondering the Two Great Market Stabilizers

  Published 19 March 2004 | viewed 4,652 times

  UNEDITED! U.S. stocks are trading unimpressively. For the week, the Dow dipped about 0.5%, and the S&P500 declined 1%. The Utilities added 1%, while the…

• The Current Account Deficit and The Bane of Inflationism

  Published 12 March 2004 | viewed 4,623 times

  UNEDITED! U.S. equities were hit with the most intense selling in awhile. For the week, the Dow and S&P500 declined 3%. The Transports dipped 1%…

• A Banner Year for Asset Inflation

  Published 05 March 2004 | viewed 4,751 times

  UNEDITED! The stock market appeared calm relative to the wild trading environment that has engulfed currency, interest-rate, and commodity markets. For the week, the Dow…

• The Curious Greenspan and the GSEs

  Published 27 February 2004 | viewed 3,566 times

  UNEDITED! The markets remain unsettled, although the major U.S. stock indices ended the week with only small changes. The Dow, S&P500, and Transports were about…

• Issing v. Greenspan

  Published 20 February 2004 | viewed 4,005 times

  UNEDITED! For the holiday-shortened week, the Dow and S&P500 were largely unchanged. The Morgan Stanley Consumer index added almost 1%, while the Morgan Stanley Cyclical…

• Simply Not Credible

  Published 13 February 2004 | viewed 4,281 times

  It was choppy, but the major indices generally ended the week little changed. The Dow, S&P500 and Utilities posted slight advances. The strongest S&P groups…

• The Pay Option ARM

  Published 06 February 2004 | viewed 11,899 times

  UNEDITED! It was another adventure through treacherous financial markets. For the week, the Dow and S&P 500 added 1%. The Morgan Stanley Consumer index gained…

• Ruse: "A crafty stratagem; a subterfuge"

  Published 30 January 2004 | viewed 3,691 times

  UNEDITED! There was no considerable period of calm or relaxation, but the Fed did keep things interesting. For the week, the Dow and S&P500 declined…

• Financial Bubbles Rages On

  Published 23 January 2004 | viewed 4,951 times

  UNEDITED! The Dow and S&P500 were about unchanged this holiday-shortened week. The Transports added 1.2% and the Utilities were up 1.7%. The Morgan Stanley Cyclical…

• Q3 2003 "Flow of Funds"

  Published 16 January 2004 | viewed 3,855 times

  UNEDITED (but I try to catch the conspicuous errors when I arise in the morning!) Each week these days passes for a peculiar adventure through…

• Issues 2004

  Published 09 January 2004 | viewed 4,123 times

  Global financial markets have commenced the year with extraordinary volatility and instability. Year-to-date, the Dow is about unchanged and the S&P500 is up almost 1%.…

• The Great Reflation of 2003

  Published 02 January 2004 | viewed 3,962 times

  I won't make too much out of one session, but it was interesting to watch the dollar immediately succumb to continued selling pressure. The dollar…

• No Inflating Out of this Quagmire

  Published 19 December 2003 | viewed 3,846 times

  It was a good week for financial assets. The Dow gained 2.3%, increasing 2003 gains to 23%. The S&P500's better than 1% advance increased y-t-d…

• OFHEO on Fraud at Freddie

  Published 12 December 2003 | viewed 4,772 times

  UNEDITED The stock market demonstrated dynamics of a vulnerable speculative Bubble this week. Volatility was extraordinary, especially in the more speculative areas of the marketplace.…

• Inflationary Manifestations Hit the Farm Belt

  Published 05 December 2003 | viewed 4,976 times

  Despite the withering dollar, the stock market held its own. For the week, the Dow added about 1% and the S&P500 gained marginally. The Transports…

• Compounding the Problem

  Published 28 November 2003 | viewed 4,383 times

  This is an abbreviated and UNEDITED Bulletin. The liquidity and speculation-driven U.S. stock market came to life again. For the week, the Dow and S&P500…