Posts Tagged ‘Bill Dudley’
October 24, 2011
The speeches by FOMC GOVERNOR TARULLO and Vice Chair Yellen were followed up with an Obama speech on a “major” REFI operation and many articles in the media. In today’s Financial Times, Larry Summers just happened to have a piece titled, “WHY THE HOUSING BURDEN STALLS AMERICA’S ECONOMIC RECOVERY.” It seems that the administration has awakened to the fact that the credit crisis has been wrapped in a housing crunch that has kept consumer demand lackluster at best. (Also known as the Geithner plan: Aid the banks first and maybe help the debt-laden consumer/homeowner somewhere down the line.)
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Tags:Bill Dudley, BOC, Cameron, Carney, deflation, Dollar, Euro, euro/yen cross, Fannie, Fed, Freddie, GSE, Larry Summers, Richard Fisher, Sarkozy, Tarullo, Timothy Geithner, Tory, U.K., Yellen, Yen
Posted in Canada, Fed, France, UK, United States | 7 Comments »
April 11, 2011
The markets were a bit heavy today as profit taking set in amid rumors that GOLDMAN was selling some long-held commodity trades. I cannot confirm the rumors as nobody from the hallowed tower called to let me know but the rumors weighed heavily on the commodities and certain commodity-related currencies. The GOLD made all time highs and the SILVER put in 31-year highs and both wound up closing lower on the day. Such price action in the precious metals would serve warning about a correction, but as usual I advise consulting your favorite technician or book on technical analysis to determine the best course of action.
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Tags:Bernanke, Bill Dudley, equity, Fed, Gold, Goldman Sachs, Janet Yellen, Long Term Capital Management, silver
Posted in Commodities, Federal Reserve, Gold | 1 Comment »
April 3, 2011
All was right with the markets as the unemployment data was released and for one of the few times in recent memory, the Wall Street analysts, ADP and others were right on target. Private sector job growth continued to improve, and the state and local governments were continuing layoffs to try to balance its budgets. The softest part of the employment data was the average hourly earnings, which were FLAT. This implies that employers are under no stress to lift wages with the unemployment rate at 8.8 percent. The markets took the data in stride as the DOLLAR was rallying on the positive data. With the previous day’s comments from various FED presidents, there appeared some need to lift some of the SHORT DOLLAR positions. The short-end of the yield curve was under pressure, aiding the DOLLAR RALLY and the selloff in the precious METALS. The equities seemed to be basking in the perfect storm for no WAGE GAINS, a mere threat of 1 percent FED FUNDS with an improving JOBS PICTURE doesn’t get any better for the EQUITIES.
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Tags:ADP, Bernanke, Bill Dudley, credibility, currencies, Dollar, dollar rally, dollar standard, doves, Equities, euro debt problem, Fed, flat, Gold, hawks, MBS, metals, PIIGS solvency, portfolio balance channel, QE, QE2, short dollar positions, sovereign debt issues, treasury securities, u.s. dollar haven status, unemployment, Volcker, wealth effect
Posted in Federal Reserve | 15 Comments »
