February 2014 Producer Prices Index Moderates
The Producer Price Index format and breakdown has been reworked this month, and it likely will take some time to make sense of this data. The PPI represents inflation pressure …
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Gold Stocks Keep Confounding Skeptics
Still a Methodical Advance This is the second time this week we feel the urge to write about gold stocks, which may be a short term negative contrarian signal. However, we are …
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5 Things To Ponder: Macro Investing Thoughts
This past week has seen the market struggle due to continued weak economic data, rising tensions between Russia and the Ukraine and an extended bull market run. As I discussed in yesterday’s missive, the …
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Nope, No Bubble Here
We’ve discussed margin debt records, record terms for auto-loans, the jump in earnings-less-IPOs, the massive surge in junk-debt-issuance, and the spike in penny-stock speculation – which we are told by Janet Yellen are no indication …
Read More The “Paid-What-You’re-Worth†Myth
It’s often assumed that people are paid what they’re worth. According to this logic, minimum wage workers aren’t worth more than the $7.25 an hour they now receive. If they …
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Latest Data Confirm China Slowdown
As a confirmation of a significant downward adjustment to China’s growth (discussed here), a battery of economic reports this morning all came in materially below expectations. 1. Fixed asset investment: …
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Here’s Why The Market Is Shrugging At TBE’s “Promise” Not To Default In July
The “good” news this evening is that Baoding Tianwei Baobian Electric Co (TBE), the company which as recently as two days ago was rumored to be the second “imminent” Chinese corporate bond default which …
Read More Market Internals Show Deterioration, Trend Still Bullish For Now
This past Monday I penned a piece entitled “10 Signs Of Stock Market Exuberance” which detailed some notes from the discussion that I recently had with another portfolio manager. Interestingly, this article …
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Anglo-Saxon Central Banking Socialism = ‘Free Lunch’
Ambrose Evans-Pritchard Makes an Important Economic Discovery Sometimes a little knowledge can be dangerous. As Frederic Bastiat already  pointed out a long time ago, it is the hallmark of a good economist …
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Chinese Authorities Halt Virtual Credit Card Payments; Tencent, Yahoo Crashing
The PBOC issued a statement today, according to 21st Century Business Herald, that halts virtual credit card products and “face-to-face” payment services such as QR code payment: *PBOC HALTS QR CODE PAYMENT: 21ST HERALD …
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