Investing

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Economy

  • The Secret World of Central Banks
    • 8/10/07 By the time you read this, the Fed's decision - made in secret - will have already been announced. Hundreds of news articles and blogs will argue over its wording and meaning. Was it dovish or hawkish? Discussed ad nauseam will be: what the policy statement does or does not clarify, what it leaves room for in the future, what it means for the economy, housing, jobs, and the prospects for recession or recovery...
  • Fed Pumps Another $35B Into US Financial System Friday to Stem Credit Turmoil
    • 8/10/07 The Fed pushed $35 billion in temporary reserves into the system Friday morning, on top of a similar move the day before...
  • Stocks Pare Losses As Fed Adds More Funds to Stem Credit Crunch
    • 8/10/07 The PPT is at it again. Earlier Friday, the Fed said it added $19 billion of temporary reserves to the banking system. CNBC's Steve Leisman then reported the Fed added an additional $16 billion to the Fed fund futures market through short-term repurchase agreements...
  • European Central Bank Adds a Further $83.6 Billion in Liquidity
    • 8/10/07 The European Central Bank made a second move to boost liquidity in the financial market Friday, putting 61.05 billion ($83.6 billion) into the euro money markets, having already injected 94.8 billion euros Thursday.
  • Dow Plunges More Than 300 Points
    • 8/9/07 Wall Street plunged again Thursday after a French bank said it was freezing three funds that invested in U.S. subprime mortgages because it was unable to properly value their assets. The Dow Jones industrials fell more than 380 points, according to preliminary calculations...
  • China threatens 'nuclear option' of dollar sales
    • The Chinese government has begun a concerted campaign of economic threats against the United States, hinting that it may liquidate its vast holding of US treasuries if Washington imposes trade sanctions to force a yuan revaluation.
  • N.Y. Crude Oil Surges Above $78 on Concern Supply Is Inadequate
    • 7/31/07 Bets on rising prices by hedge funds and other speculators rose to a record earlier this month, according to U.S. Commodity Futures Trading Commission data. Global demand will climb 1.7 percent in 2008, showing no sign of slowing because of high prices, a Deutsche Bank AG report showed. A government report tomorrow may show U.S. oil supplies fell for a fourth week...
  • US economy lifted by rising exports
    • 7/27/07 The US economy grew last quarter at the fastest pace in more than a year as rising exports helped offset a slowdown in consumer spending...

Metals


  • Gold, Silver Gain as Investors Seek Haven From Subprime Losses
    • 8/10/07 Gold and silver rose in New York as investors sought a haven from potential losses tied to the U.S. subprime-mortgage collapse...
  • Fed providing liquidity to facilitate orderly markets
    • 8/10/07 The Federal Reserve said Friday it's providing liquidity "to facilitate the orderly functioning of financial markets." In a statement, the Fed said it will provide reserves "as necessary" through open market operations to promote trading in the federal funds market at rates close to 5.25%...
  • Gold falls sharply on credit jitters, equities decline
    • 8/9/07 "In metals, this is a pretty deep correction," said Charles Nedoss, gold analyst at the Peak Trading Group. "You came back through almost every moving average technically. You are seeing a lot of selling technically. It looks bad right now."
  • Gold futures gain almost $8 to end the week up 1.8%
    • 8/3/07 December gold climbed $7.80 to close at a more than one-week high of $684.40 an ounce as weaker-than-expected U.S. jobs growth helped fuel investment demand for gold. The contract finished the week with a gain of $12.10. September silver rose 1.3% to close at $13.158 an ounce, up 3.5% for the week. September copper fell 2.6% to close at $3.479 a pound, down 2% for the week...
  • Gold hits 1-week high as dollar drops on jobs data
    • 8/3/07 Gold jumped more than one percent to a one-week high on Friday as a fall in the dollar after lower-than-expected U.S. data on jobs growth prompted investors to buy bullion. Gold <XAU=> rose as high as $671.25 an ounce and was quoted at $669.60/670.40 by 1423 GMT, against $664.30/664.90 in New York late on Thursday.
  • TheStreet.com on Ron Paul and the Gold Standard
    • 7/24/07 The gist of my criticism is this: Mr. Constable tries to make it appear that Ron Paul wants to "go back" to an inflexible system that was abandoned in the 19th century. Nothing could be further from the truth. Dr. Paul himself has said there were flaws with the past system, and he would in fact like to move forward to a new, commodity-based, honest money system. A 100% reserve gold standard has never, in fact, existed in the United States...
  • Is gold breaking out as the dollar falls?
    • 7/21/07 Dollar weakness:gold strength, has been the maxim of many gold market followers, and indeed we seem to be in a period when the dollar continues to fall, while gold seems that it may be breaking out of its recent tight trading range. Indications are that the yellow metal will now move upwards further but whether there is sufficient momentum there to breach the $700 level at this time remains to be seen.
  • Sorry Ben, the Buck Stops with You
    • 7/20/07 During his testimony before Congress this week, Ben Bernanke didn't hesitate to opine on a number of topics that had very little to do with his mandate as Fed Chairman. The wealth gap, racial factors in income inequality, and the impact of capital gains tax policy were all fair game. But when queried about the one issue where his impact is unrivaled, the value of the U.S. dollar, the Chairman quickly passed the buck to the Secretary of the Treasury. Conveniently, the Secretary was nowhere in sight...

The Dollar


a robust safe haven bid on investors' fears about credit and a surge in bets for a Federal Reserve interest rate cut in September...

  • 50 Factors that Affect the Value of the US Dollar
    • 8/8/07 Would you believe something as mundane as a rainstorm in New England can affect the value of the Dollar? It’s true. The US Dollar is subject to numerous influences, from politics to Walmart, and everything in between. The following list contains 50 factors that affect the value of the US dollar, both big and small...
  • Quick go to Canada before the dollar is completely worthless
    • 7/24/07 The U.S. dollar sank to new lows against the euro and British pound Monday and was mixed against other currencies in European trading. Gold prices fell. The euro traded at $1.3816, down from $1.3822 late Friday in New York. It reached $1.3846 in Asian trading Monday, an all-time high. Later, in midday trading in New York, the euro fetched $1.3814.
  • The Biggest Dollar Diversifiers Are American
    • 7/20/07 The dollar is very weak relative to most currencies. While cyclical factors have played an important role, I don’t believe that cable is trading at 2.05 and EUR/USD at 1.38 due only to these rather innocuous cyclical factors. Other structural factors may be at play. One possible structural reason for the dollar to have had a gradual downward trajectory since 2002 is, I suspect, portfolio diversification by US real money managers...
  • Money is Also Destroyed
    • 7/20/07 If money can be created from thin air, the opposite is also true: it can be destroyed as well. Usually it is the Federal Reserve System that does the creating, but the destruction comes by other means. Bear Stearns’ hedge fund investors have found this out the hard way. Two of its funds recently went belly up, taking 100% of investors’ capital with them. One of the funds, the Bear Stearns High-Grade Structured Credit Strategies...
  • Treasury 10-Year Yield Falls Below 5 Percent on Subprime Crisis
    • 7/20/07 Treasuries rose, pushing the 10-year note's yield to the lowest in six weeks, on speculation rising subprime mortgage defaults will lead to higher interest rates for private borrowers and curb economic growth.
  • Euro profit-taking after inflation data
    • 7/16/07 Although the central bank expects inflation to rise above its ceiling later in the year, Monday’s data gave investors the chance to take some profits. After flirting with a fresh record high against the dollar, the euro slipped back and was a fraction lower at $1.3778 in late New York trade...

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Investing/Stocks

  • Another subprime implosion slams markets
    • 8/9/07 The Dow plunges on news that French bank BNP Paribas suspends three funds because of problems in the U.S. subprime market. Campbell's Soup is considering a sale of its Godiva Chocolatier business. News Corp. reports a profit, thanks to strong revenue from its cable division.
  • Stocks Slide Amid Credit, Economic Fears
    • 8/3/07 Stocks fell sharply Friday amid fresh concerns that soured subprime mortgages will ignite a credit crunch and following weaker-than-expected economic readings. The Dow Jones industrials fell more than 230 points...
  • American Home Can't Fund Loans, May Liquidate Assets
    • 7/31/07 American Home Mortgage Investment Corp., the lender whose shares stopped trading yesterday after it disclosed a cash shortage, said it's unable to fund new loans and may have to liquidate assets...
  • Stocks Continue Slide Despite GDP Report
    • 7/27/07 Wall Street extended its steep decline Friday, propelling the Dow Jones industrials down more than 500 points over two days after investors gave in to mounting concerns that borrowing costs would climb for both companies and homeowners. It was the Dow's worst week in nearly five years.
  • OxyContin Maker, Execs Fined $634.5M
    • 7/20/07 Purdue Pharma L.P., the maker of OxyContin, and three of its executives were ordered to pay a $634.5 million fine on Friday for misleading the public about the painkiller's risk of addiction.
  • Google open to wireless bid
    • 7/20/07 Google has disclosed for the first time that it is prepared to bid in a forthcoming auction of wireless spectrum in the US, a move that could eventually mean it will emerge as a fully fledged operator of a wireless communications network.
  • Citigroup Profit Rises, Led by Gains Outside the U.S.
    • 7/20/07 Citigroup Inc., the world's biggest bank, said second-quarter earnings increased 18 percent, topping analysts' estimates, on record revenue from Asian and European markets.