Do you think maybe Dr. Bernanke is just trying to talk his book too? After all, the U.S. Treasury has heaps of debt to sell this year (gross issuance over $3.25 trillion according to Goldman). If Dr. Bernanke makes adult sounds come out of his mouth, it might give people the impression the U.S. is returning to sobriety and fiscal sensibility.
June 5th, 2009 | Dan Denning | 4 comments | ContinuedAll Posts Tagged With: "goldman sachs"
U.S. Bond Prices Rose and Yields Fell
Our guess is that it’s going to be 100% of GDP by the halfway point of Obama’s term as President. For this week, however, the new wave of Treasuries sent in to battle deflation, recession, and capitalism itself seem to have stemmed the advance of bond yields. Victory! Viva Obama! Viva Bernanke! Viva la deficit! Viva el dollar!
May 29th, 2009 | Dan Denning | 26 comments | Continued
U.S. Trying to Auction Off $162 Billion in Debt
“The US is not alone in facing a deficit crisis,” reports the U.K.’s Telegraph. “Governments worldwide have to raise some $6 trillion in debt this year, with huge demands in Japan and Europe. Kyle Bass from the US fund Hayman Advisors said the markets were ‘choking on debt’”.
May 27th, 2009 | Dan Denning | 2 comments | Continued
China Performs a Kind of Financial Alchemy
“Chinese industrial output fell for four months between July and November, but has since recovered all those losses. A similar pattern has been seen in Korea, where industrial output suffered a sharp decline around year end but apparently made up about half of that over February and March.
May 19th, 2009 | Dan Denning | 10 comments | Continued
Suspicion the Service Sector Consumer Spending Series is Overstated
If we compare consumer spending on services with hours worked in the service sector employment report, we find a huge surge in implied service sector productivity.
May 14th, 2009 | Rob Parenteau | 0 comments | Continued
Citi Reports $4.69 Billion in Fixed Income Trading
So the banks have returned to profitability have they? That was the theme on the market last week. And if it were true, a recovery in bank balance sheets is just the sort of thing that might precede a recovery in the economy. But it probably isn’t true. Here’s why…
April 20th, 2009 | Dan Denning | 22 comments | Continued
Begging the Question: Recovery to What?
Does it mean that American “consumers” (so-called) are awaited momentarily in the flat-screen TV sales parlors with their credit cards fanned-out like poker hands, ready for “action?” Not too likely with massive non-performance out in cardholder-land, and half the nation’s electronics inventory wending its way onto Craig’s List.
April 17th, 2009 | James Howard Kunstler | 29 comments | Continued
Traders Sell Bank Stocks Due to Goldman Sachs Surprise
What we wonder is why Goldman needed to be made whole at all if its exposure to AIG was hedged? And why did Goldman get paid US$14 billion for its securities when the market value was around $8 billion?
April 15th, 2009 | Dan Denning | 36 comments | Continued
It Wouldn’t be a Real Bear Market Rally if it Didn’t Test Your Confidence in Your Position
Perhaps it’s too early to say. But after the long holiday break and the news that Goldman Sachs somehow eked out US$1.8 billion in earnings in the last quarter, you get the feeling that the Aussie market might enjoy a stroll in the green today.
April 14th, 2009 | Dan Denning | 6 comments | Continued
The Dollar’s Last Days
Last week, a decimal point seemed to move to the left. A UN advisory panel had suggested that maybe it was time to figure it out a better way to run the world’s monetary system. Better, that is, than using the U.S. dollar as the reference currency for the whole world.
March 31st, 2009 | Bill Bonner | 6 comments | Continued