Bear market short squeezes can be brutal. They are not, however, life-threatening to the developing bearish trend.
FEB14 gold has found some very strong buying interest this morning, up $23 to $1,261. To us, the $1,255 level is extremely important for gold.
Goose Island is the new Bud. So are Shock Top and ZiegenBock. And Leinenkugel’s and Blue Moon, for that matter, could be called the new Coors or Miller.
Purchases of previously owned homes climbed in December for the first time in four months as job gains and healthier household balance sheets helped Americans adjust to higher mortgage rates.
Although the S&P spent most of last session in consolidation against the high part of its range, it was unable to close above the 1840.75-1842.50 level, being marked at 1838.50.
We see the five-year Treasury as having less than half of its remaining life in the land of zero interest rate policy (ZIRP).
The bonds are interesting, because on one hand you could say they should sell off this year because of the tapering, but on the other hand one could say they might rally because a tapering program might inflict harm on the economy.
JPMorgan Chase & Co. is paying a lower relative cost to borrow than before the financial crisis even after ceding more than a year’s profit to settle disputes linked to faulty mortgages and Bernard Madoff’s Ponzi scheme.
Why is the Justice Department suing Standard & Poor's for mis-rating structured credit securities before the financial crisis, and not suing Moody's, which gave a lot of the same products the same ratings? I have a theory, but Standard & Poor's has another, and theirs is a corker:
Ben Bernanke recently said the Fed is not overly concerned at the moment that there are bubbles forming in the financial system, although he stressed the Fed is “watching vigilantly” for such risks. Based on the Fed’s track record, there would be no bubbles if they had that foresight.