My morning reading:

• A Tale of Two Dows (or why we invest globally) (The Reformed Broker)
• Imagine the Fed bought defaulted Treasuries (FT Alphaville) see also 5 countries with bonds safer than Treasurys (MarketWatch)
• The Toughest Task in Investing: Picking an active manager (Morningstar)
• Euro Bonds Gain Favor Overseas (WSJ) see also The Wide, Wide World Of Bond ETFs (Capital Spectator)
• Twitter vs Tweeter: Extraordinary popular delusions (Marketwatch)
• Business Groups See Loss of Sway Over House G.O.P. (NYT) see also Republican Party Favorability Sinks to Record Low (Gallup)
• Why are some scientists unhappy with the Nobel prizes? (Economist)
• We spent 224 years building our credit. Only Congress can act to protect it. (Wonkblog) see also The GOP rewrites its ransom note (Wonkblog)
• The battle to destroy Wikipedia’s biggest sockpuppet army (Daily Dot)
• Elected governments should worry less about voting lobbies and more about how to govern well (Economist)

What are you reading?


Treeing the full faith and credit
Source: FT Alphaville

Category: Financial Press

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

18 Responses to “10 Thursday AM Reads”

  1. Internet Tourettes says:

    From the SEC RE: Execution of orders from High Frequency traders. I wish I could pump markets like this…..

    “….. trade-to-order volume ratio for stocks is typically between 2.5% and 4.2%, with an average of 3.5% in Q4 2012, 3.7% in Q1 2013 and 3.2% in Q2 2013. In contrast, the trade-to-order volume ratio for ETPs is less than one-tenth of the ratio for stocks, averaging 0.17% in Q4 2012, 0.22% in Q1 2013 and 0.24% in Q2 2013…….

    ….The trade-to-order volume ratio is one of several measures designed to characterize the nature of order placement and cancellation in equity markets. These measures provide background about how our modern equity markets operate today……

    A follow up in the WSJ….

  2. Bob is still unemployed   says:

    What the Government Does with Americans’ Data

    “…For the first time in one report, the Brennan Center takes a comprehensive look at the multiple ways U.S. intelligence agencies collect, share, and store data on average Americans. The report, which surveys across five intelligence agencies, finds that non-terrorism related data can be kept for up to 75 years or more, clogging national security databases and creating opportunities for abuse, and recommends multiple reforms that seek to tighten control over the government’s handling of Americans’ information….”

  3. VennData says:

    ​”…One of the key factors pushing Republicans to extremes, according to Greenberg’s report, is the intensity of animosity toward Obama…”​

    Hopefully head explosion is covered in your plan angry GOPer.

    My prescription? Stop listening to the lies about birth certificates, AP, Bengazi, IRS “Scandals” and get on with your life.

    Turn off Fox. Turn off Rush. Unsubscribe to the WSJ, and stop reading those ridiculous multi-color large font emails.

  4. hue says:

    We’re All Koched Up
    Meet The 31-Year-Old Shutdown Enforcer In Chief (Wapo) Koch Industries Deflects Blame For Shutdown (

    Inside Inside the Republican Suicide Machine (Rolling Stone) It’s open warfare within the GOP – and all of America is caught in the crossfire.
    Strange Brew: Big Tobacco, Tea Party Ties (Rolling Stone) Old news worth repeating

  5. Cary Ferguson says:

    Maybe I’ve missed the posting or link, but I’m looking for a Nash Equilibrium based on the debt ceiling game. I’m curious as to what the output measurements would be. Are the variables purely political? Or would it be an economic variable that is commonly measured?

  6. VennData says:

    Boehner Sells Out the Tea Party–temporarily-aise-the-debt-limit–then-negotiate-over-shutdown-154918931.html

    If I was a Tea Partier I would be angry. The GOP had Obama and Reid right where you wanted them You know Obama is weak, feckless, timid, cowardly and an unAmerican failure in everything (that’s what your media keeps telling you anyway.)

    Why is Boehner conceding? Why is Boehner surrendering? If he could have held out just a little longer Obama would have caved and Obamcare would be no more.

    The Tea Party needs louder, stronger, tougher and more violent leadership!!!

  7. willid3 says:

    even if you are really alive but had been declared dead, you cant become alive per the law?>’s-still-legally-dead-201043615.html


    • RW says:

      Interesting case. The man disappeared 19 years ago owing tens of thousands of dollars in child support. His wife raised their abandoned and, eventually legally orphaned, children using government support all of which she would have had to pay back if the judgement of death was reversed.

      The judge made the right call IMHO. The man should get a new social security number and move on; maybe if he stays sober he’ll make a better go of it this time around.

  8. willid3 says:

    American companies cutting the most jobs?

    wonder how that works out

  9. 873450 says:

    — “Business Groups See Loss of Sway Over House G.O.P. (NYT)”
    Dr. Frankenstein is upset the monster he created to destroy government is destroying government.

    — “The GOP rewrites its ransom note (Wonkblog)”
    GOP should publicly demand President Obama abandon his 2nd term secret plan to remove “In God We Trust” from all U.S. currency. Obama will pay ransom promising compliance. That way, GOP can walk away claiming victory for defending America’s full faith and credit against atheist attack from the Muslim foreigner illegally occupying their White House.

  10. armbar magoo says:

    - “Elected governments should worry less about voting lobbies and more about how to govern well”
    An excellent example of how hard it is to actually govern well is found in the current (Oct.) issue of Mother Jones magazine p. 16, by Kevin Drum, “It’s The Austerity Stupid – Death by a Thousand Cuts”.
    (I have only found one link to it through but will not link it as MJ mag. apparently is not currently offering it on their website to non-subscribers- i.e. copyrite concerns? ).

    Governments might learn from this example of how an unfortunate combination of faulty research, (Reinhart & Rogoff.), combined with opportunistic political strategy can make democracy ineffectual in seeking full economic recovery. Mr Drum well documents the enormous damage that this has caused. Hopefully we can take Mr Runciman’s long term view that we will somehow muddle through, but at what cost?