Remember "The New Normal"? Back in 2009, Bill Gross, the old bond king before Gundlach came along, penned a market commentary called "On the Course to a New Normal" which he said would be: "a period of time in which economies grow very slowly as opposed to growing like weeds, the way children do; in which profits are relatively static; [...]
My colleague Doug Terry and I have been discussion Footnote 513 to the Policy Statement appearing in the Federal Register for July 26, 2013. The large bank swap dealers have been interpreting Footnote 513 as a loophole to exempt a large proportion of their derivatives businesses from exchange requirements. As part of the Dodd-Frank law, there has been an ongoing [...]
We have been pointing out for over a year now that the trend in the economic data has been negative and we've taken some grief for that as the stock market has marched higher. Jeff Snider, in particular, has been raked over the coals by some commenters (public and private) for his reporting on the negative trends as if he [...]
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