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Quick Word on Price Action

June 29, 2012
The EU Summit results are the main driver of the capital markets.   Expectations had rightfully been depressed.  The fact that it appears that Germany and the creditors blinked caught the market leaning the wrong way.  
Secondarily, the softness of the US personal consumption in May and the back month revisions of real PCE (implied too by the GDP …
Quick Word on Price Action Quick Word on Price Action Reviewed by Marc Chandler on June 29, 2012 Rating: 5
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Word of the Day: Sovereignty

June 28, 2012
Here is an under-appreciated irony:  One of the underlying themes of the European summit is the erosion of sovereignty for the sake of integration.  In the US today, the Supreme Court decision on President Obama's national health care program, reinforces if not strengthens the power of the sovereign (in this case, to tax).  The US state may ha…
Word of the Day: Sovereignty Word of the Day: Sovereignty Reviewed by Marc Chandler on June 28, 2012 Rating: 5
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Great Graphic: Affordable Health Care Act

June 28, 2012
My brilliant and wise beyond her years webmaster decided that the the decision to uphold the Affordable Health Care Act was reason enough for a Great Graphic on the issue.
Here are some more facts and figures from CNN: 49.9 million Americans were uninsured in 2010, roughly 16.3% of the population.7.3 million children (9.8% of all the children in th…
Great Graphic: Affordable Health Care Act Great Graphic: Affordable Health Care Act Reviewed by magonomics on June 28, 2012 Rating: 5
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Europe: Three No's Revisited

June 27, 2012
The EU Summit will feature some growth measures, but little that will boost confidence that European officials will act to arrest the financial crisis.  Even the road map to greater economic and monetary union appears to really be a road map of the road map.  
Concrete proposals may not be formally presented until the end of the year.  Even the g…
Europe: Three No's Revisited Europe: Three No's Revisited Reviewed by Marc Chandler on June 27, 2012 Rating: 5
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Narrow Ranges Prevail; Waiting for Godot

June 27, 2012
The US dollar is trading in narrow ranges against the major foreign currencies in quiet turnover.  Today's settlement the last for the month, but outside of some related flows, activity is uneventful ahead of the EU summit.  Expectations were marked down at the start of the week and Merkel's colorful comments drove the point home.  
There…
Narrow Ranges Prevail; Waiting for Godot Narrow Ranges Prevail; Waiting for Godot Reviewed by Marc Chandler on June 27, 2012 Rating: 5
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