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What to Expect from the COFER Data On The Currency Composition of Reserves
The IMF provides the most authoritative data on the currency composition of reserves. It is reported at the end of the quarter for the proceeding quarter. Tomorrow it is expected to report reserve holdings as of the end of Q1…
Chart of the Day: Treasury Yields in Freefall
Below is a chart of the ten-year Treasury yield over the last three months. After peaking near 4% in April, it has since dropped to below 3% and currently yields for 2.97%. This is as abrupt a move as you are likely to see in…
Case-Shiller: Highest Year-on-Year Numbers in Four Years
This morning Case-Shiller released a report showing the largest price increase in the American residential property since August 2006. Prices for April 2010 in the broad Composite 20 index were up 3.9% year-on-year while prices in the…
Mexican Repatriation: The Great Depression and Immigration Policy
During the Great Depression, immigrants were often seen as a problem more than a solution because of high unemployment. Between 1929 and 1939, an estimated 500,000 Mexicans voluntarily or involuntarily emigrated from the US back to Mexico.…
On Bloggers’ Supposed Economic Ignorance and Other Links
In defense of bloggers on the economy Marginal Revolution: How hard is economics? Signal and Noise in Economics Writing, Arnold Kling | EconLog | Library of Economics and Liberty Matthew Yglesias » Do I Have Anything Interesting…
Dollar and Yen Rally, Euro Bears Brunt
Highlights The US dollar is broadly higher, alongside the Japanese yen, amid heightened anxiety over the possible stalling of the global economic recovery and the fragility of the banking system. The euro has borne the brunt of…
Second Large Oil Slick Found As Tropical Storm Alex Approaches
WSJ video courtesy of Fox News. Market Watch says: Tropical storm Alex, after crossing the Yucatan Peninsula, is gathering strength over the warm waters off eastern Mexico and could become a hurricane within the next 24 hours, the…
Dykstra Tells Creditors To Pile it On And They Oblige
Let's re-visit one of the more salacious stories to hit the papers in the post-Bernie Madoff era. I'm talking about the story of Lenny 'Nails' Dykstra, the former all-star baseball player turned stock picker made by TheStreet.com's Jim…
Economic News And World Cup Links
World Cup: Good World Cup 2010: Golden generation passes on after 12 frustrating years| Richard Williams | Football | The Guardian Argentina 3-1 Mexico | World Cup 2010 match report | Football | The Guardian World Cup 2010: Five…
Hussman: A Double Dip Recession is Coming
The following is an excerpt of the Weekly Market Commentary By John Hussman. Based on evidence that has always and only been observed during or immediately prior to U.S. recessions, the U.S. economy appears headed into a second leg of an…