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  • Downgrade rumors hit France...

    In This Issue.

    * Downgrade focus shifts back to Europe...

    * BOE keeps rates unchanged & cuts growth forecast...

    * China lets Renminbi trade below 6.40...

    * Crude oil jumps 4.5%...

    ...
  • U.S. Companies To Repatriate Profits?

    In This Issue..

    * Non-dollar currencies rally...
    * More deficit spending...
    * 10-year yields at 3 month highs...
    * A nice 9-year run for the non-dollar currencies...

    Good day... And a Marvelous Monday to you! The last Monday of 2009! And Yes... I'm Baaaaaacccckkkkk! Bet you were wishing I would remain on vacation through to the New Year... That's OK, I was wishing for the same thing last night! HA! I hope your Christmas or other celebration was grand... Mine was... Little Delaney Grace stole the show... I sat there watching her, thinking, how great it must be to not have a care in the world, except if her 'baby' needed changing!

    To not have to worry about deficit spending, knuckleheads making decisions against the wishes of their constituents, nut cakes running around shooting off missiles, and ramping up nuclear capabilities, and the beat goes on... The beat goes on......
  • Maybe, Just Maybe A Break In The Link?

    In This Issue..

    * Currencies consolidate...
    * Brazil posts a surplus!
    * Dr. Marc Faber speaks...
    * High yielders rule!

    Good day... And a Wonderful Wednesday to you! A very tight trading range day was in place yesterday for the currencies... In yet another sign that maybe, just maybe, because you never know, the currencies could be breaking their link to stocks... U.S. stocks jumped 196 points yesterday, and the currencies range traded... Hmmm....

    Not that this will become a 'stock jockey journal'... Stocks jumped on the news that Consumer Confidence surged this month... Talk about looking at things through rose colored glasses! Any way, Consumer Confidence surged... Better to have blips in Confidence than to be all negative all the time I guess! I also guess the stock jockeys took what was behind door number 1 (consumer confidence) and not was what behind door number 2, which was the Case-Shiller House Price Index......
  • Wild Swings!

    * Euro gains, then loses, then gains... * Inflation and Commodities... * The euro turns 10! * Risk Aversion remains but is waning... ** Wild Swings! Good day... And a Terrific Tuesday to you! Well, it happened way too late for yours truly to witness it, but my beloved Missouri Tigers rallied and won the Alamo Bowl in overtime. Go Tigers! Hopefully they can fix the defense before next fall! OK... Remember those Wild Swings I talked about yesterday? The Wild Swings that could be a result of thin volumes in this the second week of Christmas. Well... We witnessed them in earnest yesterday! As I signed off yesterday, I told you that the euro had rallied 2 whole figures to 1.43 and change. Well, that rally dissipated throughout the morning, and by late in the day the single unit was 1.39 and change... WOW! Now that's a Wild Swing! You can point to profit taking as the reason for the move, and with the volumes thinned out by Holiday trading, one profit taking sell begot another, and before you knew it, the euro was looking at a loss on the day....
  • Another Government Bailout!

    * Fannie & Freddie news... * Jobs Jamboree very disappointing! * Risk Taking back on the board! * Troubles brewing in China? ** Another Government Bailout! Good day... And a Marvelous Monday to you! We had some historic economic news over the weekend as the Gov't has decided to take over Freddie Mac and Fannie Mae... When I heard the news, I made sure I would check on the currencies later in the day when the Asian markets opened. At first, it was all dollar negative news, and the euro was flying high to near the 1.44 handle... So... I went to bed thinking that the markets would be a shambles this morning when I got to work, etc. etc. But, that's not the case, as I turned on the currency screens I saw the euro had lost all that ground it had gained and is back to looking sickly around 1.42 again. In fact, I just looked over, and the single unit has given up the 1.42 handle and is trading below... I'm searching and searching for news on this strong dollar move, and can't seem to find anything... So, I'll go on with the normal fun, and see if something pops up later as I go along......