Fitch downgrades Spain, China’s growth slows, but if you want to know the real reason markets are soft: I am traveling today to San Francisco to speak to a conference of Financial Planners, so — naturally — the markets are under pressure:
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Feel free to discuss in comments . . .
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data, ability to repeat discredited memes, and lack of respect for scientific knowledge. Also, be sure to create straw men and argue against things I have neither said nor even implied. Any irrelevancies you can mention will also be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.
"Overall household indebtedness is up from $7 trillion to almost $10 trillion since 2000. On this sum, we estimate, the American consumer has an annual interest bill of more than $500 billion; a sum, by the way, that vastly exceeds his current income growth." —Kurt Richebacher
Knowing that the vote over the weekend in Greece was really a referendum on Euro membership, a majority of the Greek Parliament said yes to staying. European Finance Ministers meet again on Wednesday to solidify the 2nd bailout package for Greece at the same time hopefully a deal is consummated between Greece and its creditors this week. The Greek 14.5b euro bond that matures on March 20th is up by 2 pts. The optimism that all will be completed and contained AGAIN to Greece has yields lower in Portugal, Spain and Italy. The iTraxx Financial Index is also narrower by...
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June 1st, 2010 at 8:40 am
Time to start publishing your travel schedule so the rest of us can make money on it ;-)
June 1st, 2010 at 8:52 am
That does it! I am hereby writing my Congressfolk, demanding federal legislation that Barry Ritholtz’s travel plans be published 30 days in advance, to avoid the foreknowledge of such plans being used to “manipulate markets” and damage the national well-being …
This Ritholtz character is no less a threat to the national well-being than is the Goldman Sachs trading battle-bot software … we need to bring in Homeland Security, for the safety of the rest of us.
June 1st, 2010 at 8:55 am
I envision something akin to the Google 767, a flying quant shop + trading floor, with BR sporting a monocle and wearing a fiendish grin, standing on the balcony overlooking a market-wrecking HFT operation … [cue the evil cackle]
June 1st, 2010 at 9:31 am
I would cue the Dr Evil laugh …
June 1st, 2010 at 9:52 am
Well I’m a little peeved at American Airlines because they keep cutting service (and they seem determined to utterly neuter their service to Boston!), but there is one benefit: in flight internet access!
June 1st, 2010 at 10:00 am
ehhh. the action is kind of weak. I mostly follow water utilities and I’m not too impressed. A few things are expensive and a few things are well priced, but nothing is exceptionally cheap with the exception of maybe VE/VIE, but then there’s the matter of having to hedge the euro exposure. Plus VIE is dancing with the death cross, which makes me want to shy away until I see what happens
June 1st, 2010 at 8:21 pm
Don’t give away your travel schedule, this could become a new revenue generator via annual suscriptions. And you could entertain offers to travel for the highest price, just like a Ratings Agency, from the highest bidder.