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Posts Tagged ‘U.S. Treasury’

The Eerie Silence Surrounding Wall Street Price Fixing

Posted by Larry Doyle on March 6th, 2012 8:48 AM |

Shhhhhhhh………

What is that eerie silence emanating from Wall Street lately? No, it’s not the quiet on the floors of the equity exchanges in the midst of anemic trading volumes. It is also not the empty echoes emanating from trading desks once bursting with activity.

The eerie silence to which I allude goes to the price fixing at the very core of how our Wall Street banks fund themselves in the overnight market. Sounds ominous, no? Let’s navigate and enter the world of Libor based funding. What is Libor? ……………….. (more…)

Treasury’s Herb Allison Needs a Truth Enema

Posted by Larry Doyle on March 4th, 2010 12:33 PM |

According to testimony this morning from Treasury official Herb Allison, currently charged with overseeing the management of the TARP, there are no financial firms now guaranteed as ‘too big to fail.’

What rock did Herb just crawl out from?

The Wall Street Journal addresses Herb’s ridiculous comment in writing, Treasury Official: ‘No Too Big to Fail Guarantee’ for Big Financial Firms:

There is no U.S. government guarantee to protect the largest financial firms, a Treasury Department official said Thursday, as a congressional watchdog criticized the $45 billion in government aid provided to Citigroup Inc. (more…)

Overnight Trade

Posted by Larry Doyle on March 4th, 2009 6:31 AM |

Stocks in Asia rose on the heels of a report that China’s Wen May Announce New Stimulus Measures to Revive Growth

With China allocating this capital to a new stimulus, will that lead to lessened appetite for U.S. Treasury debt? In overnight trading, Treasuries Drop on Potential $60 Billion Note Sale Next Week.

In other market making news, the shine has come off gold somewhat. I had cautioned that I do not play in gold because of the large number of speculative traders. Gold dropped 3% overnight and is back to $910/oz.

The U.S. dollar continues to move higher versus the Japanese yen and is back close to par, 100 yen for $1 dollar.

I remain in the camp that the bond market will continue to be pressured by the global demand for capital.

One story that also bears watching is the “plundering” of Merrill Lynch. In breaking news the WSJ reports how Merrill Lynch paid a large number of individuals outrageous sums at the end of 2008. Merrill’s $10 Million Men highlights the details. If I am John Thain, I’m not sleeping well!!

LD

When the Oracle of Omaha Speaks..

Posted by Larry Doyle on February 28th, 2009 4:20 PM |

Warren Buffett’s annual letter to shareholders is always a highly anticipated event by market participants. Given the fact that Berkshire is effectively a diversified holdings company, Buffett has a unique perspective into a wide array of businesses. He also has the wisdom of investing over many years and through many challenging markets.

Well, if misery loves company, it has a solid partner in the person of Warren Buffett because 2008 was Berkshire Hathaway’s worst year ever. In reviewing Buffett’s letter allow me to offer some highlights. For those who have an even passing interest in the markets and investing, reading this letter is akin to attending an opera by Pavarotti.

I beg your indulgence as I attempt to be the opening act and provide an overview of the “Oracle of Omaha’s” thoughts on the markets and economy: (more…)






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