23 July 2010

A personal note of reflection from Mike Farrell, CEO of Annaly Capital Management. It had been a long time between vacations. Credit crunch, lending implosion, sovereign credits going into default, currency devaluations, government…

I heard this about Bell, California on the car radio this morning. The sums involved are absolutely astronomical for a town of 37,000.  This may be an extreme case but it far from isolated. Hundreds of residents of one of the…

Topic of the Day: Fannie Mae and Freddie Mac Fannie Mae and Freddie Mac: Unfinished business | The Economist America's housing market: Unnecessary evils | The Economist Why We Have Freddie and Fannie, Arnold Kling | EconLog |…

"I've been waiting for you, Obi-wan. We meet again at last. The circle is now complete. When I left you I was but the learner. Now I am the master." "You don't know the power of the dark side!"

From Win Thin, Senior Currency Strategist at BBH. Newswires have reportedly gotten hold of the draft document for the stress tests, and it’s not pretty. It appears that the worst may be true with regards to how bonds would be subjected to…

From the Brown Brothers Harriman Currency Strategy Team Highlights US dollar is mostly softer so far today vs. the majors, hurt by stronger than expected data out of Europe (see below) ahead of the European bank stress test results around…