ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
Mortgages – Homeowners Walking Away – NYTimes.com A RECENT study suggests that most homeowners have qualms about abandoning a mortgage that they can afford to pay, even if it straps them to an investment that’s unlikely to pay off anytime soon. (tags: housing mortgage default) Pound Is Poised for Goldman Rally Not Helping Brown The … Read more
The British pound has taken some sharp twists and turns since first hitting 4-month lows against the U.S. dollar on September 28. I have been steadfast in my bearishness against the pound since mid-September, but I have found it necessary to dance in and out of positions given the persistent decline in the dollar against … Read more
After months of steady recovery and on-going increases in commodity prices, Bucyrus International (BUCY) has finally gone from tepid to bullish in its outlook. During August’s conference call, Timothy Sullivan, President & CEO, declared that “we’re not as pessimistic as most but we’re certainly not optimistic” and it is “anyone’s guess” what specific revenues and … Read more
Atlanta retail foreclosures part of troubled economy | ajc.com …economic conditions‚ a lengthy recession that has hurt retailers as much as anyone‚ are part of the formula that is making retail foreclosures a new part of the economic landscape in Atlanta. According to several retail experts, banks are beginning to foreclose on retail projects as … Read more
John Lewis: 4-year-olds are getting tax credits for buying homes | Political Insider It’s more than passing strange that, in the U.S. Senate, Johnny Isakson of Georgia has been pushing an expanded tax credit for homebuyers while, in the House, U.S. Rep. John Lewis of Atlanta is examining abuse of the same. (tags: housing fraud … Read more
The last hour of trading on Wednesday was marred by swift, high-volume selling, an extremely rare sight in the current market. It seemed to come from “nowhere” but the signs of some kind of reversal have been building in some poor post-earnings trading in many big-cap names. I earlier pointed out that Intel (INTC) seems … Read more
It's Time to Raise Rates, Ben at SmartMoney.com IT'S TIME FOR the FederalReserve to stop talking about an "exit strategy" and to start implementing one. (tags: Federal Reserve,interest rates,recovery,U.S. dollar) Why Barnes & Noble May Have a Kindle Killer-Minyanville Book retailer and major Amazon competitor Barnes & Noble (BKS) will be unveiling its own e-reader … Read more
Moments like these remind me how swiftly the tides can change in foreign exchange. The minutes from the Bank of England’s meeting in October showed that all members now support leaving quantitative easing at its current level of 175 billion pounds. This unified support marks a change in particular for Governor Mervyn King who earlier … Read more
Yesterday, the Bank of Canada decided to maintain its exceptionally low interest rate of 0.25% and reiterated its commitment to hold rates this low until the end of the second quarter of 2010. This move stands in stark contrast to the rate increase implemented by Canada’s similarly resource-rich “G20 cousin” Australia just two weeks ago. … Read more
London house prices surge past 2007 record high Property asking prices in London have broken through the record high set in November 2007 as the drought of homes for sale around the country continues to distort the market. New research out today shows that the average asking price in London jumped 6.5% to £461,157 in … Read more