Have hedge funds acted rashly, perhaps stupidly? There is a segment of the population media that very much wants people to think so. According to recent data, fund speculators have gone long short-term US Treasuries, particularly the 2-year (as well as eurodollar futures), since early October. And not just long the short end, the most in almost seven years!What idiots, [...]
You know things have really changed when Economists start revising their statements more than the data. What’s going on in the global economy has quickly reached a critical stage. This represents a big shift in expectations, a really big one, especially in the mainstream where the words “strong” and “boom” couldn’t have been used any more than they were. If [...]
I've been laid up the last week after a minor surgical procedure and while I haven't been that productive at getting any actual work done, it has given me a lot of time to watch CNBC and Bloomberg. The portfolio managers, strategists and assorted market soothsayers stream across my screen, talking about markets the way they always have, as if [...]
Just a day after discussing how retailers were going to be “smart” this holiday season, Bloomberg reports that WalMart is getting even “smarter”. “Wal-Mart dropped 1.6 percent after the retailer told suppliers its [sic] is cutting orders this quarter and next to address rising inventories.” The article spends a lot of effort trying to tie the WalMart move to “uncertainty” [...]
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