"No warning can save people determined to grow suddenly rich" - Lord Overstone
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Gold •144 days | 2,368.70 | +35.30 | +1.51% |
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Platinum •10 mins | 975.10 | +4.60 | +0.47% |
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WTI Crude •1 day | 71.24 | +1.14 | +1.63% |
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Gasoline •1 day | 2.061 | +0.002 | +0.10% |
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Ethanol •144 days | 2.161 | +0.000 | +0.00% |
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Silver •144 days | 30.82 | +1.16 | +3.92% |
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Silver • 144 days | 30.82 | +1.16 | +3.92% | |
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Copper • 144 days | 4.530 | +0.111 | +2.51% | |
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Brent Crude • 1 day | 75.17 | +0.94 | +1.27% | |
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Natural Gas • 1 day | 3.129 | -0.210 | -6.29% | |
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Heating Oil • 1 day | 2.275 | +0.001 | +0.02% |
Markets
Unstable Markets
Volatility in the Credit market was equally disconcerting. The yield on December eurodollar futures surged 25 basis points Wednesday, only to drop 23 basis points through the end of the…
The Bundling of Risk and Dollar Vulnerability
The Credit market again benefited from heightened financial risk. For the week, the implied yield on the December eurodollar contract declined 7 basis points to 3.04%. This yield has now…
Untenable Monetary Regimes
The Credit market again enjoyed all the tumult. For the week, 2-year Treasury yields sank 17 basis points to 3.15%, 5-year yields dropped 15 basis points to 4.37%, and 10-year…
Monetary Policy and the Character of Lending
There was certainly no let up in stock market volatility this week, as global financial markets continue in their especially unsettled states. For the week, the Dow and S&P500 gained…
Lies, Damn Lies, and 'Analysis'
The Credit market enjoyed the unsettled stock markets and sinking oil prices. For the week, two-year Treasury yields declined 11 basis points to 3.35%. Two-year yields have dropped 35 basis…
Pondering Imponderables
Today's jobs report had something for everyone, so we'll proffer that it's consistent with an imbalanced economy. Manufacturing lost another 38,000 jobs, although this was the smallest decline in 15…
Terminal Stage of Mortgage Finance Excess?
Dovish Fed comments helped the Credit market early in the week, although the rally gave way to a barrage of strong data by week's end. For the week, two-year Treasury…
The Diamond Anniversary of Monetary Disorder
It was a less than impressive performance for U.S. financial markets. For the week, the Dow dropped 2% and the S&P500 declined 1%. Economically sensitive issues cooled, with the Transports…
Random Thoughts
The Credit market was under pressure again this week, although today’s better than one and one-half point reversal in the bond market saved the day. After today’s rally, two-year yields…
Market Dislocations
Markets turned chaotic this week. We certainly see this as the beginning of what could be a very problematic dislocation throughout the financial markets, although how it plays out is…
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