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  • Retail Sales Disappoint! – 7/15/10

    In This Issue..

    * China's GDP moderates...
    * Spain has successful bond auction...
    * Fed's FOMC minutes disappoint...
    * euro returns to 1.28!

    Good day... And a Tub Thumpin' Thursday to you! It's July the 15th, so the month is already half-over... Unbelievable! Day 80-something with the Oil leak... I know the Russian scientists' claims about the Gulf sea bed being damaged are pretty scary and unfounded at this point, but, when the plans to put a cap on the well get delayed, you have to wonder a bit, eh?

    OK... No need to spend a day on that! Hey! The currencies are in rally mode again this morning, after a strong, but not a as strong GDP report from China last night. Chinese 2nd QTR GDP printed at 10.3%, which is quite a drop from the 11.9% they printed in the 1st QTR of this year... But, I've got two things to say about this......
  • The Fed Keeps The "Extended Period" Wording...

    In This Issue..

    * Spain gets downgraded...
    * Fed keeps rates unchanged...
    * Interest rate differentials are back in play!
    * RBNZ keeps rates unchanged...

    Good day...And a Tub Thumpin' Thursday to you! What a great evening of jazz music last night, with my little buddy having two guitar solos in two of the 4 songs played...

    Well... No amount of soothing words from Germany was going to stop the tailspin of the euro yesterday, after S&P downgraded Spain's debt now... It's a European debt pandemic according to the people selling the euro like funnel cakes at a State Fair.

    The Euro states have to feel like they are getting treated like a red headed stepchild... (Ok, it's just a saying folks) by the ratings agencies... The PIIGS (Portugal, Italy, Ireland, Greece and Spain) are falling like dominoes that were all lined up......