Global Market Comments for November 5, 2008 Special Gold Issue Featured Trades: ($GOLD)1) Last year, South Africa suffered its steepest decline in gold production since 1901, falling 14%, to a mere 232 tons. It now ranks only third in global production of the yellow metal, after China and the US. Severe electricity rationing, a shortage
Global Market Comments for November 4, 2008 1) It all comes down to the Senate today. If the Democrats win 60 seats they will have a supermajority that will give Obama a blank check. Less than that, the republicans can fight a bitter rear guard action with a filibuster. Our first read will come with
Global Market Comments for November 4, 2008 1) It all comes down to the Senate today. If the Democrats win 60 seats they will have a supermajority that will give Obama a blank check. Less than that, the republicans can fight a bitter rear guard action with a filibuster. Our first read will come with
Global Market Comments for November 3, 2008 1) First quiet day in the markets in two months. All is now on hold until after the election. An Obama win is already priced into the market, but the makeup of the House and Senate is not. McCain needs to pull an inside royal flush to win.
Global Market Comments for November 3, 2008 1) First quiet day in the markets in two months. All is now on hold until after the election. An Obama win is already priced into the market, but the makeup of the House and Senate is not. McCain needs to pull an inside royal flush to win.
Global Market Comments for October 31, 2008The Sell in May and Go Away Season is Now Officially Over!!1) The 'sell at any price' mentality is now broken as the steady improvement in short term liquidity salves investors' nerves. The market is now pricing in a 'U' type recession with a prolonged recovery, not a quickie
Global Market Comments for October 31, 2008The Sell in May and Go Away Season is Now Officially Over!!1) The 'sell at any price' mentality is now broken as the steady improvement in short term liquidity salves investors' nerves. The market is now pricing in a 'U' type recession with a prolonged recovery, not a quickie
Global Market Comments for October 30, 20081) Q3 GDP came in at -0.3%, the lowest in seven years, indicating that we are solidly in recession. Residential investment fell a gut wrenching -19.1%, while consumer spending is -2.2%, the biggest drop since 1980. Further revisions downward are expected. They don't call this the dismal science for
Global Market Comments for October 30, 20081) Q3 GDP came in at -0.3%, the lowest in seven years, indicating that we are solidly in recession. Residential investment fell a gut wrenching -19.1%, while consumer spending is -2.2%, the biggest drop since 1980. Further revisions downward are expected. They don't call this the dismal science for
Global Market Comments for October 29, 20081) The Fed cut rates by 0.50% to 1%, justifying yesterday's monster stock rally. But doesn't 1% sound familiar? Isn't that the rate that Greenspan targeted that planted the seeds of the current crisis? Beware of the unintended consequences!2) On Monday, when the commercial paper market reopened, Treasury bought