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Central Bank Reserves: IMF COFER Data Shows Little Change
From BBH's Win Thin The IMF just released its quarterly report on currency shares of global reserves. In Q1 10, the dollar’s share fell slightly to 61.5% from 62.2% in Q4, while the euro’s share fell to 27.2% from 27.3% in Q4 and…
More On The Supposed Economic Illiteracy Of Bloggers And Other Links
Must-reads Rajiv Sethi: On Blogs and Economic Discourse Time to shut down the US Federal Reserve? – Telegraph Blogs The Usual Fare Morgan Stanley - Global Economic Forum - The Case for Argentina Leaving oil spill alone…
The Bon Vivants of Doom And Gloom: Economist Nouriel Roubini and Author Nassim Taleb
I like how this reporter starts off his interview with Nouriel Roubini and Nassim Taleb. Of course what underlies this oxymoron is the "shoot the messenger" heuristic. Wikipedia describes "shooting the messenger"…
Verizon To Start Selling the iPhone in January
Bloomberg News is reporting that the iPhone is coming to Verizon in January. Research in Motion shares were getting crushed on the news in the pre-market. This will also be a net negative for AT&T as well since Apple has been under…
Irish GDP Turns Positive, Sort Of
Ireland, the first euro zone country to fall into a recession in 2008, reported today that Q1 GDP expanded by 2.7% from Q4 09. While the headline is impressive, even if Q4 09 was revised to show a 2.7% contraction rather than -2.3%…
ADP Employment Numbers Weak; Only 13,000 Jobs Added
From ADP (pdf): Nonfarm private employment increased 13,000 from May to June 2010 on a seasonally adjusted basis, according to the ADP National Employment Report®. The estimated change in employment from April to May 2010 was revised up…
First Time Homebuyer Traffic Plunged in May
Campbell/Inside Mortgage Finance Monthly Survey of Real Estate Market Conditions reports that homebuyer declined in May, as would be expected with the end of the latest federal home purchase tax credit. The most dramatic drop was with…
Risk Returns on Successful ECB Tender
Highlights The US dollar is generally softer, consolidating yesterday’s moves. In fact, the three best performers yesterday and for the month of June, namely the Swiss franc, British pound and Japanese yen, are the laggards…
Robert Byrd and Housing
A post by Annaly Capital Management The death of Senator Robert Byrd (“an institution within an institution” is what President Obama called him) may be the butterfly wings that alter the financial landscape of the United States. Without…
May’s FDIC cease and desist and other administrative orders
Below is a partial list of May 2010 FDIC enforcement decisions and orders. I have only included cease-and-desist orders, prompt corrective action notices and termination of insurance orders as these are the signs of banking system distress.…