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Michael Ashton

Michael Ashton


Contributor since: 26 Feb 2010

  • Stalling

    Published 29 July 2010 | viewed 0 times

    The recent hallucinatory rally, triggered by positive earnings spin and the wonderful news that the European banking system is really just fine despite the fact…

  • Come On, Seriously?

    Published 25 July 2010 | viewed 0 times

    I would like to say I am surprised, but how can anyone be surprised anymore by the shenanigans that go on at the highest levels…

  • When Does The Unusual Become The Usual?

    Published 21 July 2010 | viewed 0 times

    Chairman Bernanke took to Capitol Hill today to discuss the economic and monetary policy outlook for the country. His remarks were, typically, fairly unremarkable. Some…

  • The Gravity Of The Situation

    Published 18 July 2010 | viewed 0 times

    The sense of unease is growing almost palpable. I am not referring to the epic plunge in the Michigan Sentiment number, which has only been…

  • Bond Investors Aren't Buying It

    Published 15 July 2010 | viewed 0 times

    10-year yields slipped below 3% again, to 2.98%, as economic data released today were almost uniformly weak. The "almost" comes courtesy of Initial Claims, which…

  • Half Of A Pedestrian Day

    Published 12 July 2010 | viewed 0 times

    At the risk of sounding bored, I don't know that there are any deep inferences that we can draw about the state of the markets…

  • Loose Ends

    Published 07 July 2010 | viewed 0 times

    Apparently, it was too hot to do anything today but stay at home and put in equity bids, and stocks responded to the recent expression…

  • Typical For Greenspan, Maybe

    Published 01 July 2010 | viewed 0 times

    A late-day slide on Wednesday, another decline today before stocks bounced from being short-term "oversold" in the eyes of some...and on broadening volume. The S&P…

  • Event Risk

    Published 29 June 2010 | viewed 0 times

    Another 12.5/32nds gain for TNotes (2.96% yield on the on-the-run 10y note), and this rally is starting to become almost ordinary with the 6th gain…

  • The Run To Quality Is Underway

    Published 24 June 2010 | viewed 0 times

    I had planned to write yesterday, but I decided to first take a few minutes to watch a little tennis match and then... It now…

  • Another Trip To The Shop?

    Published 21 June 2010 | viewed 0 times

    The World Cup, every four years, helps to remind us that the world is still a very big place, even though electronic media have made…

  • Another Reason To Not Hate CPI

    Published 17 June 2010 | viewed 0 times

    Stocks launched higher near the close of trading, pushing the market back to an unchanged close after trading slightly lower for most of the day.…

  • An Inquiry into the Nature and Causes of the Wealth of Bankers

    Published 15 June 2010 | viewed 0 times

    Calling the current assault on the banking profession a "witch hunt" misses a crucial point. If a witch is captured and burned at the stake…

  • Dirty Little Secret

    Published 10 June 2010 | viewed 0 times

    Who needs data to lighten the mood when the mood seems to lighten spontaneously every night? Stocks rallied early and today actually held onto their…

  • Empty Words For An Empty Set Of Policy Choices

    Published 09 June 2010 | viewed 0 times

    Recently, I have noted several times that the failure of the massive federal fiscal stimulus to provide a lasting spark to growth should not be…

  • Played Out

    Published 07 June 2010 | viewed 0 times

    More and more, it appears the bounce is played out. Not just "the" bounce, but all of the bounces - the one that had stocks…

  • Never Hurts To Have A Life Vest

    Published 03 June 2010 | viewed 0 times

    Trading in the equity arena is getting back to normal, slowly, which is to say that investors are back to behaving semi-irrationally. The S&P tacked…

  • 'Inflation Protection' That Isn't

    Published 01 June 2010 | viewed 0 times

    We had a lethargic start to the week, which is not surprising: a long Memorial Day weekend that segues into a short week at the…

  • Oily, Easy, and Incumbents

    Published 27 May 2010 | viewed 0 times

    It always confuses me when the market responds vigorously to the denial of a rumor that I hadn't heard, or thought peripherally important at best.…

  • Don't Stop Believin'

    Published 25 May 2010 | viewed 0 times

    Tuesday saw yet another huge rally off of deep intraday lows. The stock market, at one point down nearly 3%, ended the day flat on…