Back From the Hospital

Sorry for the absence but it couldn’t be helped — docs think it was a passed gall stone combined with an antibiotic-induced pancreatitis. I haven’t eaten anything since Thursday. Luckily, they had cable but I’ve got to be honest — CNBC is a wasteland during market hours. Fast Money and Cramer were the only shows [...]

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Fed Risks Impotency With Latest Panic Cut

The Fed blows it…again. Before I could even get back from the gym, the Fed announced a 3/4 rate cut. While financial players worldwide were calling for them to do something, this is the wrong move. I’ll flesh it out in more detail in a later post but the short summary: In life, timing is [...]

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The Fed’s Conundrum

The European Central Bank (ECB) and Bank of England (BOE) both decided to keep rates unchanged last night. This only puts more pressure on the Fed. Several commentators have noted (and I agree) that the Fed needs the cooperation of other central banks if Bernanke and co. wish to continue this cycle of rate-cutting without [...]

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Another Week, Another Plea for sub-3% 10-year notes

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 [...]

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10-Year Treasury Yield at 2.5% ?!?

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 [...]

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Helicopter Ben’s Big Day of Fun

Obviously, the Fed will cut today. Whether it be 25 or 50 bp, I’m leaning toward the latter but really, I’m not that vested in today’s decision. I’m positioned to benefit in the intermediate-term from the Fed’s obvious easing cycle. Whether that happens today or over the course of the next year isn’t important (and [...]

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