Peace on Earth/Little Drummer Boy with Will Ferrell & John C. Reilly

David Bowie (Will Ferrell) visits Bing Crosby (John C. Reilly) during the holidays to sing a duet of two Christmas classics, Peace on Earth & The Little Drummer Boy.

Category: Weekend

Boring, likely as intended

The FOMC statement was almost identical to the one given in Nov with slight tweaking in the 1st paragraph on the economy. In the Nov statement they said that data they’ve seen “confirms that the pace of recovery in output and employment continues to be slow.” Today they said that info received since Nov “confirms…Read More

Category: MacroNotes

Late Day Reads

Here is what’s on my Instapaper: • The Von Mises Prophecy Explained (Mercenary Trader) • Inside ‘Anonymous’: tales from within the group taking aim at Amazon and Mastercard (Guardian) • Wall Street Sees Record Revenue in ’09-10 Recovery From Bailout (Bloomberg) • Feds block workers from WikiLeaks, mirror sites (C/Net) • Let Us Pay:John Lanchester…Read More

Category: Financial Press

I really like the way Michale Hirsh, author of Capital Offense: How Washington’s Wise Men Turned America’s Future Over to Wall Street, describes the causes of the crisis: A now infamous 1999 Time magazine cover featured Alan Greenspan (then chairman of the Federal Reserve), Robert E. Rubin (then Treasury Secretary) and Lawrence H. Summers (then…Read More

Category: Bailout Nation, Bailouts, Books, Regulation

Fed Ownership of the U.S Treasury Curve

The Global Macro Monitor blog was started b an independent trader and economist and, in a prior life, was a global macro hedge fund PM/trader, headed emerging market bond trading desks on Wall Street, and an economist/global strategist, beginning his career at the World Bank in the mid 1980’s. His unique and unconventional views are…Read More

Category: Think Tank

Value Line Arithmetic vs Geometric Index

My pal David Rosenberg points out that the Value Line Arithmetic Composite Index is at an ALL TIME HIGH. (This is an equal weighted price index of the 1650 stocks surveyed by Value Line, averaged daily). Dave writes: “The average stock, by the way, according to the Arithmetic Value line index, just hit a new…Read More

Category: Index/ETFs, Markets

Nothingman

Dan Greenhaus is at the Equity Strategy Group at Miller Tabak + Co. where he covers markets and portfolio theory. He has contributed several chapters to Investing From the Top Down: A Macro Approach to Capital Markets (by Anthony Crescenzi). This is his most recent commentary: ~~~ The FOMC meets today for the final time…Read More

Category: Federal Reserve, Think Tank

NFIB: Modest Improvement and Correlation du jour

The National Federation of Independent Business (NFIB) released its Small Business Economic Trends Report (SBET) [.pdf], and the news was an improvement over the prior month: The National Federation of Independent Business Index of Small Business Optimism rose 1.5 points in November rising to 93.2, the highest reading since December 2007, and the fourth consecutive…Read More

Category: Consumer Spending, Cycles, Data Analysis, Economy, Employment

All the news fit to email

Since the last FOMC meeting on Nov 3rd, interest rates have gone higher (6 mo high in 10 yr yield, 7 mo high in mortgage rates), some Congressional members want to end the Fed’s dual mandate, Ron Paul was named Chairman of the Domestic Monetary Policy subcommittee that will oversee the Fed, they’ve heard criticism…Read More

Category: MacroNotes

Where’s the Note? Leads BAC to Ding Credit Score

Let’s imagine the following scenario: You have a Jumbo mortgage with Bank of America. You are a good customer, do your banking with BofA, and you have never missed a payment. In fact, you always send your mortgage in on time. But this fraudclosure mess has you curious. You wonder who actually holds your note,…Read More

Category: Credit, Legal, Regulation