Browse by Tags

Daily Pfennig

Blog Subscription Form

  • Email Notifications
    Go

Archives

  • Questions continue regarding the Cyprus bank rescue...

    In This Issue.

    * Investors continue to worry about the Cyprus bank rescue...

    * King wants more stimulus for the UK economy...

    * Yen gets back to its downward spiral...

    * Gold sees some buying on fear...

    ...
  • Another tough day for stocks causes US Treasuries to rally.

    In This Issue.

    * Equity markets continue to fall...

    * FOMC to the rescue ???

    * Rioting in the UK...

    * Gold hits another high...

    ...
  • Bank of Canada Is First in G-7 To Hike Rates!

    In This Issue..

    * Euro's rally fizzles out...
    * Rates hikes are not over in Australia!
    * Japanese PM quits!
    * Brits offer advice to Greece.

    OK... Yesterday, I told you that the Bank of Canada (BOC) would meet today, and raise rates... Well, I got that 1/2 right! UGH! The BOC did raise rates, but they did it yesterday! Yes, the BOC became the first Central Bank in G-7 to raise rates, 1 1/2 years after the financial meltdown. The BOC tried to play down the move, by saying that they were not entering a rate hike cycle that would yield rate hikes meeting after meeting... But, with GDP, as reported here yesterday, running at 6.1% annualized, there are more rate hikes to come... It just won't be meeting after meeting... The BOC will sprinkle the fairy dust here, and a little there, some for themselves, and a little for us... A little more for them... HA!...
  • Greek crisis is sooo yesterday...

    In This Issue..

    * Merkel urges action on Greece...
    * Brazil raises rates...
    * Sterling rises on UK election polls...
    * Precious metals continue to climb...

    Good day, and what a glorious day we had here in St. Louis. The sun was shining yesterday afternoon as the Cardinals completed their 4 game sweep of the Braves with a big 10-4 win. The day was capped off for Chuck and a bunch of his parrot-head friends with an outdoor concert from one of his faves - Jimmy Buffet. I'm sure they had a great time, as it is hard not to when the weather is perfect and Buffet is up on stage. Investors worldwide seemed to be in a better mood also. The worries of Greek sovereign defaults were in the past, and traders rushed back into currencies which could give them a yield advantage....
  • A Mixed Bad of Data...

    In This Issue..

    * A Bias to take on risk...
    * China's Factory Output soars!
    * Brazil exports "stuff"!
    * Calling a bottom in Gold...

    Good day... And a Happy Friday to one and all! The 40 mph winds have stopped, which makes the cold a little more bearable... So... With the sun out yesterday, I would have to say that today will be a Fantastico Friday... Our office get together is tonight, should be a good time...

    Well... Yesterday, the non-dollar currencies looked like they were ready to break out of their funk against the dollar, led by the high yielders of Australia, and especially New Zealand... But, that flamed out as the day went on as the data for the U.S. was mixed, and did not give anyone a warm and fuzzy about the general direction of the economy....
  • German Business Confidence Slides...

    In This Issue..

    * Currencies trade in a tight range...
    * $81 Billion in Treasury auctions this week!
    * Fitch fans the flames of a fire in the U.K....
    * Aussie Business Confidence rises...

    Good day... And a Terrific Tuesday to you! I didn't start out this Tuesday on the right foot, and now I'm really running late! Oh well...

    The non-dollar currencies didn't move much yesterday, the euro bumped up and down against the 1.50 figure, while the A$ did the same against 93-cents, and Swiss against parity... So the currencies are trading in the same clothes they went to bed in last night!

    The Big Dog, euro, did attempt to move stronger into the 1.50 level, but that move was thwarted by a poor reading of German Investor Confidence this morning. German Investor Confidence as measured by the think tank ZEW, reported that their index had fallen to 51.1 this month VS the 56 in October. Most of those Germans surveyed said that they expect the economic recovery to be slow once the Gov't removes the stimulus in the economy. So... Previous euphoria is being replaced by realism... But that's OK... Better to have a reality grip on things than to go around thinking that everything is seashells and balloons......