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  • The Big Dog Gets Off The Porch!

    In This Issue..

    * Good Spanish auction fuels a euro rally...
    * SNB leaves out important words...
    * Deflation disappears in Switzerland...
    * U.S. Housing Starts drop -10%!

    Good day... And a Tub Thumpin' Thursday to you! I was reading my friend David Galland's letter the other day, and learned that he, like me, was dealing with his wife being gone for the week... I think I have an advantage on him though, as he has little ones at home... My little buddy Alex, has been hanging out with his older brother, Andrew, so I've been... All by myself... (what a great song by Nilsson)

    OK... Yesterday, I told you how the currency rally had the brakes applied by a return to the European Debt Crisis focus... Yesterday's trading was different though. It was, as if, traders never heard that the U.S. and the IMF were putting together a line of credit for Spain, for they began marking up the euro, and selling dollars, as if it June of 2009! (you may recall that in June, last year, the dollar was on the slippery slope once again)...
  • Greek debt is the euro's Sword of Damocles....

    In This Issue..

    * Greek debt crisis continues to hang over the euro...
    * Moody's says the UK and US debt ratings are secure, for now...
    * Swiss National Bank lets the franc appreciate...
    * Lots of data on tap in the US this week...

    Good day, and welcome to another week. The alarm clock seemed to go off an hour early this morning, as my body hasn't yet adjusted to daylight savings. I have heard several reasons for the semi annual adjustment of our clocks, but still don't buy into it. I think everyone should just agree to leave the clocks alone and I for one vote to leave them where they are right now, giving us an extra bit of sunlight in the evenings. We didn't see much sun here in St. Louis this weekend, as a soft spring rain has been coming down for the past 3 days....