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Fed Preview: More Talk, Less Action

March 16, 2009
The FOMC meets on the 17th and 18th of March. While there is speculation of new measures, including the outright purchases of Treasuries, the probable outcome is more subdued. More likely than buying long-dated Treasuries, the FOMC could announce increase in its size or scope of buying mortgage-backed securities.
The Fed’s economic assessment is u…
Fed Preview: More Talk, Less Action Fed Preview: More Talk, Less Action Reviewed by magonomics on March 16, 2009 Rating: 5
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Who Watches the Watchmen?

March 13, 2009
Experts told us that the odds of what is currently happening were so infinitesimally small, it was more likely the sun fail to rise in the sky tomorrow. And yet here we are. Surely, we should be suspicious of their diagnosis and subsequent policy prescriptions, but despite the political paralysis, there seems to be nearly universal agreement.
Infor…
Who Watches the Watchmen? Who Watches the Watchmen? Reviewed by magonomics on March 13, 2009 Rating: 5
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Sun Rise, Sun Set

March 06, 2009
The decline of the yen in recent weeks is the most dramatic development among the major currencies. Previously, and frustratingly for Japanese officials and businesses, the yen was the strongest currency. From its summer high through late January, the dollar fell almost 22% against the yen. The euro and sterling’s decline was even more precipitous…
Sun Rise, Sun Set Sun Rise, Sun Set Reviewed by magonomics on March 06, 2009 Rating: 5
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Europe: Your Rope

February 26, 2009
The financial crisis has shown the lies of transparency, disintermediation and risk management. The former maestro, Alan Greenspan, suggests that the crisis reveals a flaw in his thinking that bankers would act in the interests of their shareholders. At the same time both friends and enemies of the United States say a function of excesses and inad…
Europe: Your Rope Europe: Your Rope Reviewed by magonomics on February 26, 2009 Rating: 5
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Did Timid Timmy Under-Sell?

February 20, 2009
On February 10th, having postponed it for a day, newly confirmed Treasury Secretary Timothy Geithner, unveiled the broad outlines of the Obama Administration’s strategy to resolve the credit crisis. His presentation was under-whelming. Where he needed to shock and awe, he was soporific. The markets responded accordingly.
The old saw is “don’t shoo…
Did Timid Timmy Under-Sell? Did Timid Timmy Under-Sell? Reviewed by magonomics on February 20, 2009 Rating: 5
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Dollar Ranges Intact Midway through the First Quarter

February 15, 2009
The price action against the euro and yen in recent days reinforces the US dollar’s trading ranges. After testing the strong side of the ranges recently, the risk is that the greenback now slips toward the lower end, which comes in near $1.4900 for the euro and toward JPY106 against the yen.
Dollar Ranges Intact Midway through the First Quarter Dollar Ranges Intact Midway through the First Quarter Reviewed by magonomics on February 15, 2009 Rating: 5
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CNBC: Global Opportunities CNBC: Global Opportunities Reviewed by Marc Chandler on February 13, 2009 Rating: 5
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