China on Saturday signaled intent to allow more “market” float of its currency.   This Reuters article suggests that the immediate effect will be to back up Treasury rates, and that the UST auction this week and next will be a litmus test….

The Chinese are going to try and push through a $28 billion IPO of Agricultural Bank of China (ABC). Pricing will be on July 6th. This f need for dough will come at a time when market conditions have already weakened considerably as realization has spr…

On the California watch, the June 15 budget deadline for the new fiscal year that starts July 1 has come and gone. The new budget advanced by the Governor has not been implemented and a deadlock has ensued.  An estimated $19 billion deficit needs to b…

Tuesday’s brought the newest version of the 2% plus low volume algo driven rally, and took the McClellan Oscillator to the highest level in a year.  This is a phony market of the highest order,  and bears should treat it as a gift, and consider…

“Whoever is careless with the truth in small matters cannot be trusted with the important matters.â€� ~ Albert Einstein
April data on foreign holdings of US Treasuries has arrived on the scene.  Foreigners increased their stake to $3.96 …

There are numerous signs now that the endless so-called stimulus attempts of the Obama administration are being politically challenged. Here we see a proposal to bailout the States with $50 billion more; however, this one’s fate is already in dou…

The S&P 500 has bounced between two very strong support (1050) and resistance levels (1100) . It’s been repelled by resistance three times and buoyed by support three times. When the S&P breaks through either support or resistance, watch …

With a series of disasters environmental and otherwise revealing problems with governance and regulation, one might wonder where the watchdog reporting has gone.  One never hears much about these problems until afterwards. The answer according to t…

The statement from the G20 demonstrates clearly that, except perhaps for the US,  fiscal austerity has gained policy ascendancy.  The idea that Gumnuts can apply endless sugar highs and steroidal Keynesianism to support who knows what is going to be put to the test. Bottom line is that 80 percent of this population won’t stand [...]

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The statement from the G20 demonstrates clearly that, except perhaps for the US,  fiscal austerity has gained policy ascendancy.  The idea that Gumnuts can apply endless sugar highs and steroidal Keynesianism to support who knows what is going to be put to the test. Bottom line is that 80 percent of this population won’t stand [...]

View the full article