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Trust and The Canadain Dollar

November 03, 2006
The main shock in recent days was the announcement from Canada’s Finance Minister, Jim Flaherty, that the trust form of corporate organization would no longer enjoy its tax exempt status. This was a bolt from the blue. This past spring Flaherty promised that the coalition government would not tamper with the trust’s status. The previous Liberal go…
Trust and The Canadain Dollar Trust and The Canadain Dollar Reviewed by magonomics on November 03, 2006 Rating: 5
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November 7th and the Dollar

October 27, 2006
Well aware that the US holds midterm elections on November 7 and that most polls suggest the Democratic Party may garner a majority in the House of Representatives and could get control of the Senate as well, investors have nonetheless taken a favorable look at US assets. The equity market has rallied strongly, with new record highs being recorded…
November 7th and the Dollar November 7th and the Dollar Reviewed by magonomics on October 27, 2006 Rating: 5
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The Dollar Saga: Where we are now

October 20, 2006
The US dollar’s price action in recent days has been significant. Essentially, this week’s developments indicate that the greenback’s recent advance is probably exhausted and a new period of weakness will likely unfold. Yet to be clear, in the bigger picture, what we are talking about is a move from the upper end of its 5-6 month trading range to …
The Dollar Saga: Where we are now The Dollar Saga: Where we are now Reviewed by magonomics on October 20, 2006 Rating: 5
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Is the Dollar Still Range Bound?

October 06, 2006
The last several weeks have been particularly difficult for short-term players in the foreign exchange market. Many have been chopped up as narrow ranges have prevailed—selling lows and buying the highs betting on a breakout which did not materialize. The US dollar appeared to break higher after a knee-jerk drop after news the job creation in Sept…
Is the Dollar Still Range Bound? Is the Dollar Still Range Bound? Reviewed by magonomics on October 06, 2006 Rating: 5
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Forces that Reflate

September 15, 2006
Over the past several weeks the US dollar has been largely confined to well worn ranges against the major foreign currencies. The equilibrium implied by range trading environment might be giving investors a false sense of security. There are a number of developments in other markets that warn that the calm in the foreign exchange market might not …
Forces that Reflate Forces that Reflate Reviewed by magonomics on September 15, 2006 Rating: 5
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G7: Lots of Thunder, Little Rain

September 08, 2006
Encouraged by French and German comments implying concern about the weakness of the yen, next week’s G7 and IMF meetings are taking on new significance in the foreign exchange market. Given the heightened uncertainty, speculative players are likely to continue to reduce their exposures in the days ahead. This means that the risk is on the dollar’s…
G7: Lots of Thunder, Little Rain G7: Lots of Thunder, Little Rain Reviewed by magonomics on September 08, 2006 Rating: 5
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Notes on the Capital Markets and a Modest Proposal

August 25, 2006
When assessing the uniqueness of the US economy, the flexibility of its labor markets is often cited as a critical factor. Businesses indeed have a largely free hand in hiring and firing workers. The unionization rate among the private sector continues to trend lower and dissent over tactics led to a split in organized labor about a year ago. Ther…
Notes on the Capital Markets and a Modest Proposal Notes on the Capital Markets and a Modest Proposal Reviewed by magonomics on August 25, 2006 Rating: 5
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Where in the World are the Bond Vigilantes?

August 16, 2006
Investors and speculators have sometimes acted to impose financial discipline when they have concluded that officials are being too lax. The economist Ed Yardeni coined the name “bond vigilantes” to describe such participants when they are doing this. With the third year of a strong global expansion, rising commodity prices and nearly every countr…
Where in the World are the Bond Vigilantes? Where in the World are the Bond Vigilantes? Reviewed by magonomics on August 16, 2006 Rating: 5
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Beware the Ides of August

August 11, 2006
The historic significance of August 15 tends to be under appreciated. It is the day in 1620 that the Mayflower set sail from Southampton with 102 Pilgrims aboard that were destined to change the world. As they celebrated their anniversary 15 years late, the Plymouth colony was hit by its first hurricane. In 1914 the Panama Canal opened, which was …
Beware the Ides of August Beware the Ides of August Reviewed by magonomics on August 11, 2006 Rating: 5
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