10 Thursday PM Reads

My  afternoon train reads:

• The Depressing Signals the Markets Are Sending About the Global Economy (The Upshot)
• “Nine out of ten Forex clients lost money” (FT Alphaville)
• Is the Global Financial Asset Portfolio the Perfect Indexing Strategy? (Pragmatic Capitalism)
• OPEC Finding U.S. Shale Harder to Crack as Rout Deepens (Bloomberg)
• Top 20 Financial Pundits To Follow On Twitter (Benzinga)
• GOP voter ID law gets crushed: Why Judge Richard Posner’s new opinion is so amazing (Salon)
• Ready for a Patented Supreme Court Smackdown? (Bloomberg View)
• Corporations used to pay almost 1/3 of federal taxes. Now it’s 1/10 (Vox) see also  Median Wealth Is Down by 20 Percent Since 1984 (CEPR)
• Google Thinks Amazon Is Its Biggest Competitor. Here’s Why. (Slate)
• The Risks of Cheap Water (NY Times)

What are you reading?



New Oil Bear Market?

Source: Bespoke Investment Group


Category: Financial Press

How Much Slack Is in the Labor Market? That Depends on What You Mean by Slack Murat Tasci and Randal Verbrugge Federal Reserve Bank of Cleveland, 10.15.14           Estimates of labor market slack can diverge a great deal depending on how slack is defined. We calculate slack using five different concepts…Read More

Category: Employment, Think Tank

Market Sell Off May Not Have Run Its Course Yet

The change in tone in the equity markets is unmistakable: There is a palpable tension that leads some money managers to shoot first and ask questions later. The net result of that anxiety can be seen in the flood of new money into U.S Treasuries, which ever so briefly drove the yield on the 10…Read More

Category: Cycles, Investing, Markets, Trading

10 Thursday AM Reads

Strap yourself in, it looks like its going to be another bumpy ride. Brace yourself with our morning train reads: • Wall Street Might Know Something the Rest of Us Don’t (NYT) see also “There she goes, my beautiful world” S&P500 breaks its 2 year uptrend (TRB) • The Risk That Will Bite You Next…Read More

Category: Financial Press

Oil Glut Driving Prices Lower

From the WSJ comes this graphic on how the gusher of Oil, including shale oil plus competition from fracked natural gas, have been driving prices lower:   click for ginormous graphic Source: WSJ   Better the price drop is dues to excess supply than a drop in demand!

Category: Digital Media, Energy

Hold Your Wallet When the Swedish Central Bank Prize Rewards “Clever” By William K. Black New Economic Perspectives         The Swedish Central Bank’s (the “Bank”) prize in economics has gone to Jean Tirole.  It is always good to test such an award by looking at the writings of the recipient in an…Read More

Category: Think Tank

D.C. Meet Up: The Edgar at Mayflower Renaissance at 6:00 pm

We are having a few people over this evening to chat markets, economy and corrections. If anyone wants to come by this evening, we are at The Edgar at Mayflower Renaissance in D.C.   Come on by at 6pm and say hello!    

Category: Markets

10 Wednesday PM Reads

My afternoon lobbying reads: •  U.S. 10-Year Yield Below 2% for First Time Since 2013  (Bloomberg) • Privately, Saudis tell oil market- get used to lower prices (Reuters) see also U.S. Oil Producers May Drill Themselves Into Oblivion (Businessweek) • European Policy Makers At Odds As Eurozone’s Economic Woes Deepen (WSJ) Where Do the World’s…Read More

Category: Financial Press

Hedge Funds Take a Turn onto Madison Avenue

Source: Peppercomm h/t The Reformed Broker

Category: Digital Media, Hedge Funds

Are Falling Oil Prices Driven by Rising Supply or Falling Demand? (Yes)

It’s been impossible to miss the headlines screaming about oil: Prices Plunge! Multiyear lows! Supply glut! Dollar rally! My concern is less about a supply glut and more about falling demand. Despite a dearth of signals that a recession may be on its way, falling oil prices can be a sign that consumers are getting…Read More

Category: Energy, Investing