Streetwise Blog submits: by Boyd Erman The asset-backed commercial paper market is opening up, as detailed in Wednesday's Globe (read it here), so much so that miner New Gold (NGD) reports that it gets constant calls from potential buyers looking to take the $155-million in paper the company has.Complete Story »
Roger Nusbaum submits: The Market Vectors Poland ETF (PLND) is up and running. I mentioned this in that very high quality video I posted, not realizing it would be out so soon.Complete Story »
Brett Steenbarger submits: I hope you have a great Thanksgiving vacation and, more than that, hope you have much in your life to give thanks for. Gratitude does wonders for one's attitude!Six questions I draw upon to prepare for the trading day;Excellent interview with Rob Hanna of Quantifiable Edges;A new site for rating trading and investment services;Coping with trading stresses and where coping goes wrong;Banks remain in bad shape despite rising income;Worthwhile Thanksgiving thoughts;Hope you get some time this holiday to recharge your emotional batteries;Charting the economic crisis.Complete Story »
Market Blog submits: by David Parkinson When a major Canadian bank kicks off the sector's quarterly earnings-reporting season with considerably better-than-expected profits, you'd think that might put a charge in not only its own stock, but those of its peers. So when quite the opposite happened Tuesday after Bank of Montreal's (BMO) consensus-beating numbers, you had to figure that something about those big numbers didn't quite pass the sniff test.Complete Story »
The 451 Group: Inorganic Growth submits: by Brenon Daly As many of us get ready to sit down with friends and family for our annual Thanksgiving dinner on Thursday, our thoughts inescapably turn to poultry. When we look around at some of the deals out there right now, our thoughts also turn to poultry. For instance, whenever Corel (CREL) comes up, we can’t help but think to ourselves, ‘What a turkey.’Complete Story »
Brad DeLong submits: The Bureau of Labor Statistics Reports: ETA Press Release: Unemployment Insurance Weekly Claims Report: In the week ending Nov. 21, the advance figure for seasonally adjusted initial claims was 466,000, a decrease of 35,000 from the previous week's revised figure of 501,000. The 4-week moving average was 496,500, a decrease of 16,500 from the previous week's revised average of 513,000.... The advance number of actual initial claims under state programs, unadjusted, totaled 543,926 in the week ending Nov. 21, an increase of 68,080 from the previous week...Complete Story »
Andrew Horowitz submits: We are seeing a few numbers that are “headlining” well. For example, the Case-Schiller reported a 9.36% year-over-year decline. But, the declines are on top of declines we have already seen. Of course we all knew there would be a time that would show a slow-down of rapid declines that were occurring - or houses would be worth zero in no time. So, we are glad to see the drop slowing. But… The fact is that all of the housing numbers will look better for the foreseeable future since last year’s fall was off the charts. Digging deeper into the report also shows that many of the existing home sales are still from distressed properties.Complete Story »
Ron Rowland submits:It’s a holiday. Why on earth are you looking at an investment website? As long as you are here, you might as well test your knowledge of ETFs and perhaps win a prize. The first two people to submit the correct answers using our contact form will receive 12 months free access to our paid subscription site – AllStarInvestor.com (note: if you are already a subscriber, 12 months will be added to your service).Complete Story »
The LFB submits:Overall, the sell-off from the equity markets had a major influence on the pound and on the aussie, but interestingly, it had only limited effects on the euro and swissy. Driven by risk-aversion, the yen broke below the 86.00 area, to reach the lowest value since 1995. Thanksgiving Day has been historically very quiet in the financial markets over the last four years of trading, but today it proves to bea huge exception. Ahead, the market has some major uncertainties since the U.S. session is closed, but the volatility seen throughout the European session might attract some major players into the futures market. Complete Story »
Gold soars ahead with news from politicians that governments will continue to poke and prod our economies in order to stimulate them. Well what happens when you poke and prod a dog? It bites back.Gold reached a new UK record on Tuesday climbing to £709.1 per ounce. Fantastic news for all the gold bugs out there, its been some time in the making (March 09) since it last peaked against the pound. Complete Story »
The LFB submits:Equity Futures: Dow -110.00. S&P -14.70. NASDAQ -19.00. Japanese Nikkei -60.00. German Dax -12.00. European Trade: The trend this week in global equity trade has been one day up, the next one down, and following this pattern, the overnight markets have traded in the red, with the regional Asian and European indexes posting small declines. The same negative momentum has been seen in the U.S. futures market, which dropped a more than 1% during the Asian and the European trading hours. Complete Story »
Michael Pettis submits: The stock market had a bad day Wednesday, with the SSE Composite down 3.62%, mainly on rumors that banks will be seeking to raise equity capital next year in response to their loan surge this year. On Tuesday Bloomberg reported that the five largest banks were supposed to have submitted plans to regulators for raising money, after unprecedented lending eroded their capital. I would argue that a more compelling reason to raise capital is the almost-certain surge in NPLs over the next three or four years. In fact I am pretty surprised that these rumors caught the market by surprise. Everytime that banks have engineered a policy-induced surge in lending, they have followed up with a surge in NPLs, and it would be pretty extraordinary if this time were any different. A refusal to raise capital levels would have been very imprudent, and it is pretty clear that the PBoC and the CBRC are already worried about the impacts of the credit expansion on the banking system.Complete Story »
ForexTraders submits:The perception that inflation is going to rise in the near future is common among traders in spite of the absence of solid data backing the argument. This week we’ll offer our updated opinion about the inflation outlook. To have high inflation in this country, one of two conditions must be fulfilled. Either we need to have rising wages, justified by increasing employment, or perhaps productivity falling faster than employment, or we must see some external shock invalidating the profit expectations of firms, leading them to raise prices.Complete Story »
