Spanish funding costs continue higher

The cost of funding for Spain continues to rise as they sold 10 yr and 15 yr paper. The 10 yr was priced to yield 5.45%, 83 bps above the last one sold in Nov and the 15 yr yielded 5.95%, 141 bps higher than the last one sold in Oct. The existing 10 yr yield is rising to 5.50%, matching the highest since Nov ’00. Germany and France continue to be the main economic salvation in the region as the Euro region mfr’g and services composite index fell .5 pt and was a touch below forecasts. Markit, who publishes the data, said “outside of France and Germany, output growth slowed to near stagnation, registering the weakest performance since Nov ’09, as faster growth of mfr’g products was countered by renewed contraction in services.” The Hang Seng index fell to a 10 week low due to further fixed asset lending constraints in China. S&P did upgrade the credit of China to AA- and Hong Kong to AAA. India kept rates unchanged as expected but they are expected to start hiking again in Jan.

Category: MacroNotes

10 Questions for GOP Members of Financial Crisis Inquiry

I never wanted to write Bailout Nation. That only came about after Bear Stearns collapsed. McGraw Hill approached Bill Fleckenstein to do a follow up to his successful Greenspan’s Bubbles: The Age of Ignorance at the Federal Reserve, about the end of Bear. Fleck turned them down. When the publisher asked him who else was…Read More

Category: Bailout Nation, Bailouts, Really, really bad calls

Today’s exercise is cognitive dissonance and ideological foolishness: Financial Crisis Primer

Category: Bailouts, Think Tank

Seinfeld – The Complete Series = $85 (1 day only)

> Seinfeld – The Complete Series: This is simply one of the funniest television series in TV’s history. Its $250.95, but Amazon has a one day sale price: $84.49 for 32 DVDs. That’s $2.65 per DVD . . . Its a one day only, Deal of the Day — I already sent out 4…Read More

Category: Television, Weekend

Income & Elections

I had the pleasure of collaborating with Catherine Rampell of the NY Times on a piece that she recently posted here.  We looked at recently released Census data on median income and examined whether — or to what extent — it played a factor in the 2008 presidential election.  The answer — apparently not much…Read More

Category: Data Analysis, Economy

Inflation expectations spiking today

Inflation expectations in the 10 yr TIPS today are spiking by 10 bps to 2.36%, to the highest since May 3rd and it’s the biggest one day move since Sept (Sept was on a closing basis). Looking at the 5 yr TIPS has the same message, rising 8 bps to 1.97%, the highest since also…Read More

Category: MacroNotes

Search Rankings Tool: PageRankGraph

If you have ever wondered where search rankings come from, then you will find this to be a pretty cool tool: PageRankGraph: > > Play with it a bit:

Category: Web/Tech

Census: Household Income & Changes

A pair of fascinating NYT/Census/Google map mash ups from the NYT  this morning. Using US Census  data, they look at a variety of data points: Race & Ethnicity, Income, Housing and Families, Education. Click the link, then select View More Maps, choose topic: click for full interactive versions > Median Household Income Change in Median…Read More

Category: Data Analysis, Wages & Income

Sen. Kaufman: GOP Sacrifices Deficit for Tax Cuts for Rich


Sen. Kaufman: GOP Sacrifices Deficit at Altar of Lower Taxes for the Rich
Aaron Task
Yahoo Tech Ticker, Dec 14, 2010

Category: Taxes and Policy, Video

It appears that the web editors at the AEI have been busy. Peter Wallison, currently a member of the Financial Crisis Inquiry Commission, was also the co-director of AEI’s Financial Deregulation Project, along with his co-director, Columbia professor Charles Calomoris. Over at Calomoris’s bio, his status as co-director of AEI’s Financial Deregulation Project is the…Read More

Category: Analysts, Bailouts, Credit, Politics, Real Estate