It was November 1996 when the S&P last traded at 750, today’s close. Thirty year Treasury bond yields fell to 3.56%. Governments advanced at an historic rate, up 5%+. After the close they rose another 2%! Never before in history have bonds yielded so …
Take a look at this chart from itrade4real.com: http://tinyurl.com/5p3hyo Study the chart for a moment. The red line is our current market. To me it means that this decline is much faster but just as deep as our worst. And it could also mean we …
US Treasuries are used and owned all over the world. Japan owns over $500 billion, for example. Other soverign banks own trillions of them. Treasuries are also utililized as collateral, often overnight. Owners will loan out their paid-for Treasuries to someone in another time zone, …
Jim is a friend from high school, fifty years ago. We met again, after not seeing each other for decades, at a September reunion. Our relationship was unchanged, after all that time. We easily slipped into the banter we had honed years ago. It turns …
A brutal, brutal day for the bulls. The bears cleaned up as they shorted any sign of a rally. Market bredth was the worst I can remember: 27 million shares traded up, 1.6 billion traded down. Almost 3,000 stocks were down, 187 up. Brutal. That …
TLT is an ETF which duplicates the 20-year Treasury bond. It is up an unprecedented 2.2% today to $99. We have seldom seen such moves and it becomes unsettling as investors continue to flee to safety. Oh, S&P 840 was supposed to be a floor …
No where to hide except bonds. Treasuries soar, and even TIPs, in the face of benign inflation, are up modestly. Quick, guess the price of Saks. $3. Quick, guess the price of Citi. $7.65. Bank America? $13.82. And even after a 50% dividend cut is …
Looking for bargains? Below is an alphabetical list of stocks, picked at random from today’s New Low List, showing yesterday’s close and their 52-week high. These are not recommendations, simply a snapshot of what has happened to equity valuations. Not that you need reminding but …
We got the anticipated bounce, such as it was. Dow 30 up 151 or 1.8%,; S&P up almost 1%. But the Russell or mid-caps index lagged with a loss of not quite 1%. All 3-G’s were down (see earlier post). Citi, onhuge volume dipped below …
With a hat-tip to the Shark the-shark-report here is an explanation of the PPT from alternet.org. I had not heard of this committee before today. Gives me shivers. “It was back in l987 when the former movie-star-in-chief (Reagan) signed an Executive Order his administration drafted …