Market Updates

OMT, U6 and Why are there Two Stock Markets?

In the alphabet soup that is the European Central Bank’s (ECB) quiver we have a new arrow, OMT (Outright Monetary Transactions) care of Mario Draghi (ECB President) and his Council. Add this to the LTRO’s, the EFSF and the ESM. Last week’s news regarding the ECB’s new program led bond yields[...]

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Just the Facts

“All we want are the facts Ma’am”. For those of you who remember Jack Webb’s character, Sgt. Joe Friday, making that statement each week on the popular series Dragnet, you might have longed for Sgt. Friday when listening to Fed Chairman Ben Bernanke’s speech on Friday at the Kansas City Fe[...]

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Medicare Spending

The political debate between parties will reach a fever pitch over the next two months leading up to the election.  We know that one of the key issues facing our economy is the cost of entitlement programs including Social Security, Medicare and Medicaid.  As these programs are expected to take up[...]

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Monday Morning Market Update

Kids either have already returned to, or are returning to school this week. With the start of a new school year we go through the planning process to make sure they have the right supplies, clothes, shoes and electronic devices. Then the most important family event of the new school year takes place[...]

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What does a reader do on vacation?

Well, read of course. I have been on vacation for the last week and took some time to read something other than investment manager updates and research reports. I have been a sailor for most of my life and always fascinated by sailing lore. For many years I was a very big fan of Tristan Jones, a sai[...]

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Talk is Cheap

Over the last two weeks the Chairman of the European Central Bank and the our Federal Reserve have been in a position to move markets again. Our chief interventionists have been opining on things such as the future of the Euro and the likelihood of another quantitative easing. The benefit of being a[...]

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Revisionist History

Last week we received the first look at second quarter real gross domestic product (GDP) and the slow-down everyone felt was coming apparently arrived several months ago. GDP was up 1.5% which was slightly better than the consensus forecast of 1.2% but down from the upwardly revised first quarter of[...]

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Monday Morning Market Update

Last week was chock full of economic data that provided some insight into how the economy is doing, whether inflation is accelerating and how the housing market is improving. The week started with retail sales figures coming in below expectations down 0.5% and -0.4% ex-autos. However sales over l[...]

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By the numbers

Economic data last week included the U.S. trade balance, initial jobless claims, import/export price change, the producer price index, National Federation of Independent Business (NFIB) Index and the University of Michigan consumer sentiment indicator. We have discussed the fact that the market i[...]

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Markets are Man Made

Perhaps the current economic cycle is more like the Fukushima disaster than originally thought. Last week an independent Japanese Parliament inquiry into the disaster released their findings and noted that it was “more man made” and also a result of “government mismanagement.” While that may[...]

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