Dawn Bennett of Bennett Financial Services just appeared on Bloomberg and nonchalantly mentioned expectations of the 10-year note coming down to 2.25% in 2008. She also asserted that there was no inflation — only phantom inflation. She used the ridiculous comparison of gas prices in the US to gas prices in the UK to illustrate [...]
Scott Minor (sp?), CIO of Guggenheim Partners, appeared on Bloomberg’s Final Word program today talking about interest rates. According to him, once the Fed gets the 10-year note down to 2.5%, the housing market will see buyers coming back to the table. Now I don’t disagree that 2.5% long-term rates will bring buyers back (including [...]
This shipping stock is one I’ve followed for a while and was at its 52-week low just a few days ago. In the last 2 days, the stock has jumped over 20%. I don’t know if someone is accumulating the shares or if the company is bidding up its shares to support the stock (they [...]
I’m listening to Quincy somebody or other from the Hartford (it’s not really worth knowing her name unless to ignore future musings) on Bloomberg Open Exchange. Not only is she rehashing, months too late to be any use, what we all know about the housing market (builders have too much inventory, owners can’t sell their [...]
There is a great editorial in today’s FT by Wolfgang Munchau. It’s one of the first mainstream sources to assert (others have brought up the question) that we face a solvency crisis and that central bank efforts to boost liquidity are futile. Munchau then gives some reasonable estimates to the UK housing market correction and [...]
Unexpectedly (unless you read this blog and other like-minded sites), inflation has come back with back-to-back scary PPI and CPI numbers, even despite the government massaging. In response, gold and oil has sold off, which makes little sense. Maybe people are discounting the inflation-fighting response already. Who knows? One can waste a lot of time [...]
