Credit Writedowns

By Comstock Partners. Five years ago on the eve of another of the Fed's annual financial symposiums at Jackson Hole, we wrote the following: "Since 1999 when the financial bubble was in full bloom (due in large part to the Fed) we…

My friend Rob Parenteau says "most professional investors are high frequency macro data and short run asset price driven."  He basically means they have no real macro analytical framework to use when making investment…

I will be on BNN at 12:15 today. Topics are unknown but Ireland's downgrade and double dip in the US are two likely subjects.  My general take is that this is playing out as scripted here and here. Back in 2009, when I was talking…

From the BBH Currency Strategy Team. Highlights The US dollar is mostly weaker vs. the majors as risk appetite creeps back in the wake of yesterday’s impressive recovery in equities after the very weak US data. EUR/USD still had trouble…

Perhaps it would be a good time for investors and analysts alike to lean back and have a good bottle of Pinot Noir and let markets be markets. Surely, with the likes of Hindenburg Omens still getting its share of the tape and with the macro…

Frederick Sheehan is the author of Panderer to Power: The Untold Story of How Alan Greenspan Enriched Wall Street and Left a Legacy of Recession (McGraw-Hill, 2009). Inflation versus deflation discussions are the rule for columnists,…

I acquired a Nexus One when it came out thanks to a kind friend. Up until that point, I had been using a Smartphone with a built in QWERTY/QWERTZ keyboard for several years. In fact, one reason I never got an iPhone was the virtual…

From The BBH Currency Strategy Team. Highlights Though concerns about economic growth prospects in major economies are still dominating financial markets after the poor US data yesterday, verbal intervention from Japan’s Finance…

By Annaly Capital Management Existing home sales can’t go to zero, can they? They clocked in at 3.83 million on a seasonally adjusted annualized basis in July, down 27% from the prior year, half of the 2005 peak of 7.25 million and the…

This is what is helping drive markets down. But, the price action was ugly even before. The Yen is at a 15-year high versus the USD and a 7-year high versus EUR. Swissy is also crushing. Bunds are at record lows. And now the ten-year is at…