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  • China Grows at +8.9%!

    In This Issue..

    * Currency rally is reversed overnight!
    * Pay Czar dreams...
    * Brazil may reverse capital inflow tax...
    * An Asian Union?

    Good day... And a Thunderin' Thursday to you! It's raining outside, so... It must be a Thursday! Amazing how many Thursdays have seen rain this fall! The ground isn't the only thing that's getting watered down this morning...

    Front and Center this morning, the euro traded well past 1.50 yesterday afternoon, and drug all the other non-dollar currencies higher as the day went on. But overnight, all that giddiness with seeing the euro over 1.50 for the first time since August of 2008 (and then it was on the way down, instead of this time on the way up!), has been watered down......
  • A broken record...

    In This Issue..

    * Mixed bag of housing numbers...
    * Foundation work...
    * High yielders...
    * Commodity currencies again...

    Good day...and a Terrific Thursday to you. As Chris mentioned yesterday, I'll be steering the ship for the next couple of days while both he and Chuck are out so I look forward to being your relief captain. The fall like weather in the middle of summer has continued yet for another day in St. Louis, not that I'm complaining, but that out of the ordinary trend certainly hasn't carried over to the currency markets. In fact, I could probably cut and paste yesterday's Pfennig and you wouldn't miss a thing as the currencies traded in a very tight range, so there wasn't much exciting to report on...Oh well, instead of wasting space, I'll get right to it......