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  • Jobless recovery?? Not going to happen....

    In This Issue..

    * Leading indicators up, but employment down...
    * 11 million new jobs in China...
    * Pound sterling gets pounded...
    * A Great Day for EverBank...

    Good day...and happy Friday! It has been a fairly busy week here at EverBank, with the issuance of another big BRIC MarketSafe CD, the maturity of another MarketSafe, and a big acquisition (more on that later). While things were a bit crazy at EverBank, the currency markets were fairly uneventful. The dollar started the day off with a move up after a positive report on US leading indicators, but it gave back most of the gains as the trading day wore on. At the end of the day, only one currency moved more than 1% vs. the greenback, with the pound sterling dropping almost 1.5%.

    ...
  • The NBER Finally Says So!

    * RBA cuts 100 BPS... * It IS a recession! * Paulson to ruffle feathers? * Yen to rally hard? ** The NBER Finally Says So! Good day... And a Terrific Tuesday to you! Quoting one of my all time fave Christmas songs, Baby, it's Cold Out There! Winter has arrived, and I had to drag out the big heavy winter coat this morning. So... The seasons pass us, which is a good thing, because without winter, we couldn't have spring, and spring training! OK... Right out of the starters blocks this morning, the Reserve Bank of Australia (RBA) pulled the rug right out from under the "high yield status" of their economy, with another HUGE rate cut overnight... This time, the RBA cut 100 BPS, to an internal cash rate of 4.25%. This brings the total since September to 300 BPS! WOW! Talk about effectively unwinding seven years of tightening! The statement following the rate announcement leads me to believe that the RBA is probably finished cutting rates for now... It will be a wait-n-see what happens globally, before the RBA entertains any talk of further rate cuts... At least that's my opinion!...
  • FOMC Minutes Point To Problems...

    * Questioning the Fed's moves... * Euros slow down... * Aussie hits 25-year high... * Oil hits $135!...