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  • Stepping Up On The Soap Box...

    In This Issue..

    * Euro continues to get sold...
    * Freddie Mac needs $10 Billion more!
    * Auctioning another $80 Billion in Treasuries...
    * Norges Bank does the right thing!

    Good day... And a Tub Thumpin' Thursday to you! I don't really have a reason for it to a Tub Thumpin' Thursday, just thought it would be good to get going into the weekend early! I'm slowly getting back into the swing of things here. There's a parking issue that's got me so ticked off right now, but that's not what you came to read about, so... Let's get going!

    Well... The rout that was on with the euro continued for most of the morning yesterday, but then suddenly, it stopped, and we saw the currencies & Gold turn around... It was just like I had said the day before, that the euro would probably reach oversold levels, and we could see a mini-rally... And we did!...
  • It's All About The Jobs Jamboree...

    * Currencies rally then fall back... * Rate slashers! * Following Japan? Let's hope not! * Canada's woes mount... ** It's All About The Jobs Jamboree... Good day... And a Happy Friday to one and all! A Fantastico Friday! A Jobs Jamboree Friday! Anything else, Chuck? No, I don't think so, I'll stop there... It's all about the Jobs Jamboree today. It's all about finding out just how badly the rot on the labor vine has gotten... The Weekly Initial Jobless Claims, yesterday, remained above 500K per week, which doesn't bode well for next month's data... But first... November's Jobs Jamboree on the docket! The "experts" have forecast a -335K drop in jobs for November... But, your old Pfennig writer believes that this forecast is low. I think it will be closer to -375K... The reason I say that is the employment piece of the ISM report that printed the other day... The employment index of that report showed some real serious rot on the labor vine... I read a report last night, where an economist was attempting to show how the report should read -750K... As bad as -375K is, I don't think the Bureau of Labor Statistics (BLS) would have anything to do with printing a -750K report!...
  • Buying Buicks Instead Of Bonds...

    * Currencies trade in a tight range... * Another new plan to help homeowners... * RBNZ and Riksbank slash interest rates! * The Governorator speaks! ** Buying Buicks Instead Of Bonds... Good day... And a Tub Thumpin' Thursday to you! It's going to be a Tub Thumpin' Thursday in Europe for sure, given the Central Banks of England and the Eurozone are meeting and will probably cut interest rates to levels that haven't been seen in a while! The automakers are in deep dookie folks, according to them, and are in need of funds / bailout money right now! The head of Ford believes his company can withstand the recession, but fears for GM and Chrysler... The UAW has made some concessions to help the automakers, but it could be a case of too little, too late... Well... Another day of doldrums in the currencies, with the bias, what little there is, to buy dollars. The stock jockeys received some manna from heaven yesterday when it was announced that the U.S. Treasury Department is considering a plan to halt the slide in home prices that would lower mortgage rates using Fannie Mae and Freddie Mac. The plan could reduce rates for newly issued loans to as low as 4.5%....
  • Reigniting Fears...

    * Risk Aversion returns! * Central Bank meeting week... * Looking at dollar / euro... * CFTC gets investigated......