Home

So far, each financial crisis in the series that began with the junk bond bubble of 1989 has been noticeably different from its predecessors. New instruments, new malefactors, new monetary policy experiments in response. But the one that’s now emerging feels strikingly similar to what just happened a few years ago: Banks overexposed to assets […]

The Bear Is At The Door, Part 1: Momentum Stocks Getting Crushed

One of the common transitions that bull markets go through as they age and die is a narrowing of leadership. As formerly strong sectors begin to stall out, investors shift into whatever is still looking good — that is, whatever still has upward momentum. Eventually capital becomes concentrated in just a few names. Then those […]

Read the full article →

Bad Numbers And Dark Prophecies: Almost Everybody’s Cutting Something

The drumbeat of bad (and sometimes just plain weird) news has risen lately — but today’s batch stands out. Here’s a small sampling: US jobless claims were higher than expected, and continue the rising trend of the past few weeks. US layoffs surged to a six month high, while asset write-downs are up worldwide. Among […]

Read the full article →

This Is Really Bad For Banks

Once upon a time, falling interest rates were great for banks. A lower cost of capital gave lenders access to cheap raw material while causing borrowers to clamber for what banks were selling. Large profits usually ensued. But not now. Rates have fallen past the banks’ sweet spot to levels that just don’t work. Borrowers […]

Read the full article →

Epic Battle: Hedge Funds Versus China

George Soros’ successful bet against the British pound back in 1992 remains one of financial history’s epic tales. The short version of the story begins with Britain linking its currency, the pound, to the German deutschmark via the European Exchange Rate Mechanism (ERM). But Britain’s inflation rate was higher than Germany’s, which created a growing […]

Read the full article →
[Most Recent Quotes from www.kitco.com] [Most Recent USD from www.kitco.com] [Most Recent Quotes from www.kitco.com]
     
     
 

123456789101112131415Last