Archive for December, 2009

Credit Market Overview
December 31, 2009
On Monday of this short week I discussed the goings on in China and other parts of Asia, Tuesday’s topic was Western Europe and yesterday, the burgeoning trend of the states going outside of the “States” to issue debt.
In closing the week, the month, the year and the decade I thought… »

Credit Market Overview
December 30, 2009
With the issuance of U.S. Treasury securities a hair’s breathe away from a trillion and a half dollars for 2009 and the prospect for next year’s flood of Federal paper easily topping that level, Uncle Sam has “depended on the kindness of strangers” to finance his profligate ways for some time… »

Credit Market Overview
December 29, 2009
For a good portion of the first part of this year, less bad was the new good.  That Armageddon was not unfolding at an increasingly rapid rate was all investors needed to put in the March bottom and take things up fairly quickly from there.
Greece got its own taste of “less… »

Credit Market Overview
December 28, 2009
As we prepare to move to a new decade, a quick look back to another turning point, 1999, saw the creation of the “Skyscraper Index” by Andrew Lawrence, research director at Dresdner Kleinwort.  Since Mr. Lawrence developed it he can call it whatever he likes but from what I’ve read, it… »

Credit Market Overview
December 24, 2009
The passing of the Winter Solstice left us blanketed in white.  Winter + white, for many, = snow and many of those same “many” are headed off to the slopes this Holiday season.  I’m not going to talk about slopes today, but I am going to talk about curves.  Now, now,… »

Credit Market Overview
December 23, 2009
If there was a clue that the MoM percentage change in Existing Home Sales was going to come in three times its estimate, it came from the sales of “white goods” or major appliances as the non-cognoscenti refer to them.  For the truly uninitiated that would be things like washers, dryers… »

Credit Market Overview
December 22, 2009
Winston Churchill served as Prime Minister of the United Kingdom from 1940 to 1945 and again from 1951 to 1955.  He is probably most remembered for his leadership during WWII, pulling Great Britain and Europe as a whole through the fight as if by the sheer force of his grit and… »

Credit Market Overview
December 21, 2009
Leading up to the United Nations Climate Change Conference (COP15) a group of clean planet people launched the “Hopenhagen” initiative to raise awareness of the event as well as display optimism that some meaningful progress would be made towards having the world agree on a way to cut green house gasses. … »

Credit Market Overview
December 18, 2009
We have seen, over the last ten trading sessions or so, a remarkable metamorphosis from a weak Dollar being the impetus for higher equity prices to a weak Euro taking over the raison d’être behind the move.
Some have said this is a classic “flight to quality” move as the “PIIGS” have… »

Credit Market Overview
December 17, 2009
As we approach the Winter Solstice turn the clock back six months and imagine stands of trees on the hillsides of the upper Midwest, Northwestern United States and southern Canada gleaming in the warm sunshine.  These are not any trees but the trees that will fill people’s homes as the season… »