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Notes From Underground: The Swedes Plumb the Interest Rate Depths
First, I will say it again. QE3 is over and the Fed will maintain its “forward guidance” and be data dependent. The next bout of important data will be the U.S. unemployment release on November 7,...
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In the 1960 classic film The Time Machine a traveler visits a future civilization in which a group of people is enslaved as a source of food. The food source are zombie-like and kept in comfortable...
View ArticleNotes From Underground: The Good, the Bad and the Ugly (or Another Spaghetti...
It is very difficult to find the GOOD in the global financial world, while the BAD and UGLY abound. The GOOD could be “found ” in low interest rates on BONDS and NOTES in the U.S. Yet when you scratch...
View ArticleNotes From Underground: The Europeans delivered on a bailout of the...
After reading through the vast amount of news on the Brussels “emergency” meeting, I am not sure I truly understand what the final outcome of the European resolutions for financial stability entail....
View ArticleNotes From Underground: Sarkozy and Merkel … Is That All There Is??? (Peggy Lee)
The markets were all waiting for a major statement regarding the European political situation and its effect on the financial system. It wound up being the most banal as it makes me wonder what leaders...
View ArticleNotes From Underground: Christine Lagarde, the Markets Turn Their Lonely Eyes...
The European debt markets were thrown into further chaos today as the German/Italian 10-year notes spread blew up. In cash terms, the move was a widening of 58 basis points while in futures prices the...
View ArticleNotes From Underground: Weena, Is It All Clear?
The unemployment numbers were much as expected and the most solid news was that the employment participation rate increased to 63.9% to 63.7%, which didn’t cause the overall jobless rate to increase....
View ArticleNotes From Underground: Let’s Assume We Have A Can Opener…
As regular readers of NOTES are well aware, I have been very critical of market participants like George Soros and their sanguine views of the European DEBT CRISIS. Many analysts like Jim Cramer have...
View ArticleNotes From Underground: The Tight Rope Walker Was The Key Circus Performer
As I covered in NOTES yesterday, the three-ring circus was coming to town Thursday and the show was so fantastic that it dazzled investors worldwide. The RIKSBANK began the show by cutting its rate by...
View ArticleNotes From Underground: Ok, Notes From Underground, Where 2+2=5
For the almost three years that NOTES has been published, I tried to make it clear why the subtext of NFU was that 2+2=5. The idea of the math being so obviously incorrect was a direct reference from...
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