Global Intelligence
Markets
The markets were surprised when the Federal Reserve did not announce a tapering of the quantitative easing bond buying program at its September meeting. Indeed, its signal to the market that it was keeping interest rates low was welcome, but there may be a hidden agenda. Since it began in late 2008, QE has spurred […]
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The ducks are lining up for an absolute disaster in the stock market over the months ahead. The Fed clearly see risks on the horizon, and the stock market does not. That will change very soon. How do we know this? The equation for calculating real stimulus involves consideration to the funding operations of the […]
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As Wall Street, CNBC, and feckless politicians tout American energy independence from the miracle of shale oil, reality is already rearing its ugly head. Production grew by 24% over the first six months of 2012. Production has grown by only 7% over the first six months of 2013. That is a dramatic slowdown. The fact […]
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As we noted earlier, Bernanke’s actions this week make it very clear that between “financial conditions” and the fragility of growth, the US is incapable of surviving without ZIRP and QE (for now). As Barclays notes, ultimately, normalisation should proceed according to a timeline that does not threaten recovery, yet will result in a neutral […]
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The number whispered on Wall Street is $10 billion (or $14-$15 if you ask The Saudis), but potential investors in the micro-blogger’s IPO will need more to go on than simple valuation math and guided judgment. As ConvergEx’s Nick Colas notes, Tech firms are particularly dependent on innovation and human capital for their viability. So while […]
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Sep 10, 2013 – 01:47 PM GMT By: Money_Morning Robert Hsu writes: This has been the bond market’s worst showing in 19 years, thanks to the recent spike in the 10-year Treasury yield. But bond investors aren’t the only ones getting hit. A higher “risk-free” rate affects you, too. And me. And anyone else trying to […]
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Nokia Deal Could Mark the Last Chapter for Microsoft Sep 06, 2013 – 12:37 PM GMT By: Vitaliy_Katsenelson As a value investor I used to spend a great deal of time in Microsoft hell – on one hand there was the company with enormous cash flows, an incredible return on capital, a huge moat, a cash-rich […]
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Citizens of India have been watching, in stunned amazement, as over the past month the local currency has lost an unprecedented 15% of its value, with a record plunge taking place just last night [5]. And, as so often happens, the population habituated to a government “acting in its best interests” is asking itself – how could we […]
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Earlier we showed one indicator of the US investor’s (should they exist anymore) loss of interest [4] in the Federal-Reserve-sponsored equity market – i.e. CNBC ratings at 20-year lows. In the interest of being more fair-and-balanced we present anther perspective… US equity trading volume in August of 2013 is the lowest on average in 16 years… and all-time highs, middle-east war, taper, […]
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