Finance

Gold Price Is Making Waves

On Monday gold became almost 80 USD more expensive in no time and it is now listed north of 1,200 USD per ounce once again. At first sight there was not really a clear indication as to what caused the sudden surge in gold. But gold was not alone. Silver jumped up by no less…

Hedging Euro Exposure

A subscriber just asked my thoughts on Euro exposure and how to hedge it.  As usual for me, simplest is best; short the Euro (or FXE) and long USD (RYSBX) after a USD correction. As part of response I also worked up a chart showing hedged vs. unhedged European equity funds along with USD. HEDJ vs….

New Jobless Claims At 297K, Matching Forecasts

Here is the opening statement from the Department of Labor: In the week ending November 29, the advance figure for seasonally adjusted initial claims was 297,000, a decrease of 17,000 from the previous week’s revised level. The previous week’s level was revised up by 1,000 from 313,000 to 314,000. The 4-week moving average was 299,000,…

Comment On DeLong Commenting On Bernanke And “Summers”

In this rather long post Brad (who writes faster than most people can read causing potentially inefficient fixed pixel formation) Brad spends an odd amount of time critiquing some neo-Austrian and Singer the inflation truther. But then he discusses the thoughts Bernanke and Summers, which are well worth discussing. Ben Bernanke says that there is a: risk……

More Potemkin Village Reports

Following awful Thanksgiving retail sales news, on Wednesday the Potemkin Village of U.S. economic “recovery” was dealt additional body blows as 1) the MBA’s weekly refinancing index plunged by an astonishing 13%; 2) November unit labor costs – i.e. wages – unexpectedly plunged 1.0%; 3) the PMI services index printed at its lowest level since…