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Tag Archives: credit bubble bulletin
Weekly Commentary: Canary in the Credit Market’s Coal Mine
Weekly Commentary: Canary in the Credit Market’s Coal Mine What ever happened to “Six Sigma”? GE was one of the most beloved and hyped S&P500 stocks during the late-nineties Bubble Era. With “visionary” Jack Welch at the helm, GE was being transformed into a New Age industrial powerhouse – epitomizing the greater revolution of the […]
Weekly Commentary: Back to Fundamentals
Weekly Commentary: Back to Fundamentals The Dow (DJIA) jumped 545 points (2.1%) in Wednesday’s post-midterms trading. The S&P500’s 2.1% rise was overshadowed by The Nasdaq Comp’s 2.6% and the Nasdaq100’s 3.1% advances. Healthcare stocks surged, with the S&P500 Healthcare Index up 2.9% (Healthcare Supplies index jumping 4.5%). Led by Amazon’s 6.9% (113 points!) surge, the […]
Weekly Commentary: MBS and the Core
Weekly Commentary: MBS and the Core The Dow (DJIA) traded as low as 24,122 in late-Monday afternoon trading. By Friday’s open, the Dow had rallied 1,457 points, or 6.0%, to 25,579. Relatively speaking, the Dow was a tame kitten. From Monday’s intraday lows, the Nasdaq100 rallied as much at 7.8%. The Semiconductors won this week’s […]
Weekly Commentary: “Whatever They Want” Coming Home to Roost
Weekly Commentary: “Whatever They Want” Coming Home to Roost Let’s begin with global. China’s yuan (CNY) traded to 6.9644 to the dollar in early-Friday trading, almost matching the low (vs. dollar) from December 2016 (6.9649). CNY is basically trading at lows going back to 2008 – and has neared the key psychological 7.0 level. CNY […]
Weekly Commentary: Moscovici and the National Team
Weekly Commentary: Moscovici and the National Team From the perspective of monitoring an unfolding global crisis, things turned only more concerning this week. The Shanghai Composite declined to 2,450 in early Friday trading, the low since November 2014 – and down almost 26% y-t-d. Across the globe in Europe, Italian 10-year yields jumped to 3.80% […]
Weekly Commentary: Rude Awakening Coming
Weekly Commentary: Rude Awakening Coming Please join Doug Noland and David McAlvany this Thursday, October 18th, at 4:00PM EST/ 2:00pm MST for the Tactical Short Q3 recap conference call, “Market Contagion is Back.” Click here to register. There’s little satisfaction writing the CBB after a big down week in the markets. Motivation seems easier to […]
Weekly Commentary: Contemporary Finance’s Defect
Weekly Commentary: Contemporary Finance’s Defect October 3 – CNBC (Jeff Cox): “Federal Reserve Chairman Jerome Powell said the central bank has a ways to go yet before it gets interest rates to where they are neither restrictive nor accommodative. In a question and answer session Wednesday with Judy Woodruff of PBS, Powell said the Fed […]
Weekly Commentary: Portending an Interesting Q4
Weekly Commentary: Portending an Interesting Q4 “Those who do not learn history are doomed to repeat it.” I’ll add that those that learn the wrong lessons from Bubbles are doomed to face greater future peril. The ten-year anniversary of the financial crisis has generated interesting discussion, interviews and scores of articles. I can’t help but […]
Weekly Commentary: Portending an Interesting Q4
Weekly Commentary: Portending an Interesting Q4 “Those who do not learn history are doomed to repeat it.” I’ll add that those that learn the wrong lessons from Bubbles are doomed to face greater future peril. The ten-year anniversary of the financial crisis has generated interesting discussion, interviews and scores of articles. I can’t help but […]
Weekly Commentary: Q2 2018 Z.1 Flow of Funds
Weekly Commentary: Q2 2018 Z.1 Flow of Funds Non-Financial Debt (NFD) expanded at a seasonally-adjusted and annualized rate (SAAR) of $2.283 TN during the quarter. While this was down from Q1’s booming SAAR $3.681 TN, it nonetheless puts first-half Credit growth at an almost $3.0 TN pace. Annual NFD growth has exceeded $2.0 TN only […]
Weekly Commentary: Approaching the 10-year Anniversary
Weekly Commentary: Approaching the 10-year Anniversary We’re rapidly Approaching the 10-year Anniversary of the 2008 financial crisis. Exactly one decade ago to the day (September 7, 2008), Fannie Mae and Freddie Mac were placed into government receivership. And for at least a decade, there has been nothing more than talk of reforming the government-sponsored-enterprises. It’s […]
Weekly Commentary: Approaching the 10-year Anniversary
Weekly Commentary: Approaching the 10-year Anniversary We’re rapidly Approaching the 10-year Anniversary of the 2008 financial crisis. Exactly one decade ago to the day (September 7, 2008), Fannie Mae and Freddie Mac were placed into government receivership. And for at least a decade, there has been nothing more than talk of reforming the government-sponsored-enterprises. It’s […]
Weekly Commentary: Unassailable
Weekly Commentary: Unassailable I’ve been here before and, candidly, it’s not much fun. Lodged in my mind this week was the brilliant quote from the 19th century German philosopher Arthur Schopenhauer: “All truth passes through three stages: First, it is ridiculed. Second, it is violently opposed. Third, it is accepted as self-evident.” It’s fascinating how […]
Weekly Commentary: Powell, Greenspan and Whatever it Takes
Weekly Commentary: Powell, Greenspan and Whatever it Takes Fed Chairman Powell is in a tough spot, one made no easier now that he’s on the receiving end of disapproving presidential tweets. The global Bubble has begun to falter, which only exacerbates divergences between various markets and economies. The U.S. is booming, while China struggles and […]
Weekly Commentary: Instability
Weekly Commentary: Instability With the Turkish lira down another 6.6% in Monday trading, global “Risk Off” market Instability was turning acute. The U.S. dollar index jumped to an almost 14-month high Monday, as the Turkish lira, Argentine peso, Indian rupee and others traded to record lows versus the greenback. The South African rand “flash crashed” […]
