Markets Climb Out of the Hole

Nice reversal today on Greece and Strategic Oil Reserve release:


DJIA 2 Minute Chart, this week


Nasdaq 2 Minute Chart, this week

Category: Markets, Technical Analysis

James Grant on Fed Policy, Quantitative Easing

James Grant, editor of Grant’s Interest Rate Observer, talks about the outlook for Federal Reserve monetary policy and the consquences of the central bank’s policy of quantitative easing. Fed officials said today they will maintain record monetary stimulus to support a flagging economic recovery after completing a $600 billion bond-purchase program as scheduled this month. Grant speaks on Bloomberg Television’s “InBusiness with Margaret Brennan.”

Hat tip Scott F

Running time 13:15

Source: Bloomberg, June 22 2011

Category: Federal Reserve, Video

Greek Noise

So yes the market is rallying on only a headline and not a full story. Headline being “Greece agrees with IMF, EU on 5 yr austerity plan.” There is already an austerity plan that the Greek parliament is voting on next week so the only thing that could be different is if the terms have…Read More

Category: MacroNotes

Nation Building Starts at Home . . .

As long as we are nation building around the world, I know this little out of the way place in North America that could use some fixing up . . . > via Sherffius

Category: Economy, Taxes and Policy

Grecian Burn – Credit Default Swaps

Aasif Mandvi explains how Goldman Sachs helped Greek people to continue retiring a few years before puberty. The Daily Show – Grecian Burn – Credit Default SwapsTags: Daily Show Full Episodes,Political Humor & Satire Blog,The Daily Show on Facebook

Category: Derivatives, Humor, Weekend

One Reason for Housing Doldrums

I hope to have more on Bernanke’s press conference when the transcript is posted, but this partial comment in response to a question goes a long way toward understanding the moribund housing market: Unfortunately, there are problems, including the fact that credit standards for mortgages have tightened considerably so that roughly about the bottom third of…Read More

Category: Economy, Federal Reserve

Sick Minds

Frederick Sheehan is the co-author of Greenspan’s Bubbles: The Age of Ignorance at the Federal Reserve. His new book, Panderer for Power: The True Story of How Alan Greenspan Enriched Wall Street and Left a Legacy of Recession, was published by McGraw-Hill in November 2009. He was Director of Asset Allocation Services at John Hancock…Read More

Category: Inflation, Really, really bad calls, Think Tank

Tipping Around the World

Click for ginormous graphic Via Life Hacker

Category: Travel, Weekend

Pimco’s El-Erian on Greece Outlook, IEA Oil Release

Mohamed El-Erian, chief executive officer of Pacific Investment Management Co., talks about Greece’s debt crisis. El-Erian, speaking with Betty Liu, Michael McKee and Jon Erlichman on Bloomberg Television’s “In the Loop,” also discusses the release of emergency oil stockpiles and the U.S. economy.

Source: Bloomberg, June 23

Category: Energy, Video

Look Out Below, Part II: Crude Oil!

Here is the other half of today’s Look Out Below – the US release of Crude from the Strategic Petroleum Reserve. The DoE announced a release of 30 million barrels of oil, ostensibly due to Libyan supply disruptions over the next 30 days. ~~~

Category: Commodities, Energy