"No warning can save people determined to grow suddenly rich" - Lord Overstone
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Gold •142 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 •7 hours | 71.24 | +1.14 | +1.63% |
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Gasoline •7 hours | 2.061 | +0.002 | +0.10% |
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Ethanol •142 days | 2.161 | +0.000 | +0.00% |
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Silver •142 days | 30.82 | +1.16 | +3.92% |
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Silver • 142 days | 30.82 | +1.16 | +3.92% | |
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Copper • 142 days | 4.530 | +0.111 | +2.51% | |
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Brent Crude • 6 hours | 75.17 | +0.94 | +1.27% | |
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Natural Gas • 7 hours | 3.129 | -0.210 | -6.29% | |
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Heating Oil • 7 hours | 2.275 | +0.001 | +0.02% |
Markets
Stool Pigeons
For the second time in the same season, two Bonds' have established records. Both Barry and the 30 year Treasury Bonds are big news. For one, it's homerun history and…
The Accelerant
Additionally, the weight of increased leveraging of consumer balance sheets grown over years of excess consumption in coincidence with a general decline in cash savings has been slowing the consumer…
Financial Arbitrage Capitalism
First of all, we would be committing an error if we fixated too long on the numbers. For both the economy and financial system, the move to "Financial Arbitrage Capitalism"…
A Tangled Web We Weave
Over the past few years there has been an explosion of "special purpose vehicles" created specifically to provide various forms of financing, and in many cases indirectly for companies of…
The 'Widow's Curse Myth' or Reality?
Between the continued explosion of mortgage credit, and the record issuance of converts and CDO (collateralized debt obligations) instruments, one cannot be the least bit sanguine about the either the…
Ultimate Discretionary Power of Monetary Policy
Overborrowed consumers may be struggling, but the Fed has thus far postponed their inevitable retrenchment. October saw the largest rise in personal spending on record. With expenditures on durable goods…
The 'Great' Debate
The Enron tentacles reach far and wide, with a Dow Jones new story this afternoon stating "primary insurers could be on the hook for as much as $2 billion in…
Edward Stone Shaw
Fannie Mae this week priced $5 billion of benchmark 10-year bonds - 5 3/8% due November 15, 2011. They closed Tuesday with a yield of 5.53%, at a spread to…
Hitting the Wall?
The "one way bet" U.S. credit market saw an abrupt change of fortunes this week, with stunned traders and investment managers watching a decent year evaporate into thin air. Two-year…
400 Basis Points (and counting) to Sustain the Unsustainable
Hopefully, this detail supports our contention that the major problem for the U.S. economy is not a general lack of demand. Households definitely continue to borrow and spend, we would…
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