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Chart of the Day: US Financial Conditions Index at 32-month high
The US Financial Conditions Index (BFCIUS) is a composite measure of the condition of U.S. financial markets, using yield spreads, indices from bond, equity and money markets. Right now, it is at a 32-month high. But, while this is…
Links: 2010-03-15 – Sovereign credit ratings, China and protectionism
China Britain warns China against protectionism – Telegraph FT.com – China calls currency pressure 'protectionism' Chinese Premier Warns of 'Double Dip' Recession – WSJ.com Paul Krugman – Taking On China and Its Currency –…
Serious Problems Emerge For The F-UK-DE Group of Countries
Well, I for one can’t help thinking that it’s now well time we all stopped getting carried away with the use of so many acronyms. Not only may one man’s meat easily prove to be another’s poison, it may even be that for some the entire meal…
Michael Lewis and Wall Street’s Doomsday Machine
Michael Lewis is out with a new book “The Big Short: Inside the Doomsday Machine” which discusses how the big hitters on Wall Street destroyed $1.75 trillion of capital. His phrase ‘Doomsday Machine’ is reminiscent of former IMF chief…
US Dollar Tone Improves as Market Awaits Results from EU Fin Min, FOMC Tomorrow
Highlights The US dollar is firmer against most currencies. The euro failed to extend Friday’s break up out of the $1.3436-$1.3788 range in which it has been trading since Mar 17th while against the Swiss franc, the euro is trading at its…
The Economy’s Vicious Cycle for Michigan Banks and Business
The video below from the Wall Street Journal gets at the heart of why the bailouts have been so toxic for the economy. Banks, still laden with existing bad loans to small businesses, are unwilling to make new ones. Businesses, unable to…
The week in review at Credit Writedowns: 2010-03-14
This past week’s posts marked a turn for me on a few levels. It is apparent that most market reform efforts are mere tweaks of the existing system. I am being to conclude that no meaningful financial reform can occur absent an absolute…
Links: 2010-03-13 – Fed’s Lehman Repos, States may hold onto tax refunds
Tea Party Avoids Divisive Social Issues – NYTimes.com What's Happening to China's Migrant Workers? A New Generation Coming and Going – The China Sourcing Blog States may hold onto tax refunds for months – USATODAY.com Fed Helped Bank…
Retail Sales Much Stronger than Expected
The February US retail sales data was much stronger than expected, even when taking into account the downward revisions in January. A picture of a broadening of the recovery is emerging. Looking at the Jan-Fed period…
Links: 2010-03-12 – Yellen for Fed Vice Chair, Bank failure Thursday and more
Obama to tap Yellen for Fed vice chair:source| Reuters BBC News – Rove 'proud' of US waterboarding terror suspects Walmart vende la Barbie negra a mitad de precio que la blanca ¿discriminación? – elConfidencial.com Examiner sees…