Just like with the Mohammed Islam story, the religious belief by the cheerleading crew that the crashing price of oil is so “unambiguously, unquestionably, undisputably” good for the US is so taken for granted, that nobody actually checked the facts.So here is one such attempt by the FT, which writes that “almost $1 trillion of spending…
High-yield bonds, also known as junk bonds, issued by U.S. energy companies have come under selling pressure in recent weeks as oil prices have fallen to lows not seen since mid-2009. Bloomberg says investors in these bonds are facing $11.6 billion in losses at the moment. Energy company-related debt issued in the past three years alone…
CLICK ON CHART TO ENLARGE When it comes to interest rate rallies, Russia tops this list this morning as they raised rates 70% in a day, attempting to stem the rapid decline in the Ruble. Speaking of interest rate rallies….Did you know the yields on junk bonds are up roughly 70% in the past 6…
This is getting very ugly. This picture was from Moscow on Friday, with the sign offering 54 Rubles for $1 and offering to sell Dollars for 59 Rubles (nasty spread). Today, just 4 days later, you need 80 Rubles to buy a Dollar with that currency dropping 45% (so far) in less than a week. This is happening…
This is getting very ugly. This picture was from Moscow on Friday, with the sign offering 54 Rubles for $1 and offering to sell Dollars for 59 Rubles (nasty spread). Today, just 4 days later, you need 80 Rubles to buy a Dollar with that currency dropping 45% (so far) in less than a week. This is happening…
This Great Graphic was composed on Bloomberg. It draws on the Bank of England’s trade-weighted indices of the dollar (yellow line), the euro (white line), and yen (green line). The data was further indexed to the end of 2009. Trade-weighted measure is more important than bilateral measures when considering the impact of currency movement on a domestic economy. That…
Paging Waddell & Reed… Even for this early in the US session, liquidity in the most-liquid financial instrument in the world is – in the words of Nanex’s Eric Hunsader, “abysmal.” Source: @NanexLLC
It’s time again for my weekly gasoline update based on data from the Energy Information Administration (EIA). Rounded to the penny Regular dropped 13 cents and Premium 12 cents. Regular is now at its lowest price since October 2009. Will the price decline in gasoline boost discretionary spending during the holiday season? Stay tuned! According to GasBuddy.com, Hawaii…
Tomorrow, Germany’s Constitutional Court will rule on a major tax case that could devastate German business owners. There was no estate tax in Germany so businesses could pass from one generation to the next intact. That may all come to an end tomorrow. The country’s constitutional court will decide whether families can continue to transfer companies…
