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Time To Remove Stimulus?

In This Issue..

* Chinese stocks rise 5%!
* Risk Assets follow!
* OECD forecasts faster global growth...
* Gold & Silver kicking sand again!

Good day... And a Tub Thumpin' Thursday to you! Let's hope it remains a Tub Thumpin' Thursday later today, as I head downtown to watch my beloved Cardinals play a day game! For those of you who are baseball fans, you know what I mean when I carry on about how baseball should only be played during the day!

OK... Before I get to the currencies, economies and the dolts in the world, I wanted to briefly talk about the SEC, who made an announcement yesterday that they had done an investigation of the Madoff audits, and did not find any fraud... Just mistakes... Really? Mistakes? That's what they call them? Even Bernie Madoff himself says that he was "astonished" that the SEC failed to shut him down after interviewing him in 2006!

...

Published 09-03-2009 10:40 AM by Chuck Butler

Filed under: China, Silver, Gold, Euro, Trichet, Sweden, Riksbank, Timothy Geithner, Risk Assets, OECD

A Lost Decade?

In This Issue..

* An Up and Down day for currencies...
* Jobs Jamboree moves to Thursday today...
* China to buy more Gold!
* Sweden cuts rates!

Good day... And a Thankful Thursday to you! I'm reminded that we all need to be thankful for the patriots that led this country to victory and thus our freedom. The freedom for me to write a letter like this, each day, that allows me to say what I want to say (well, with the governor of the legal beagles of course!). And since this weekend we will celebrate our Independence, I thought this to be a good time to have a Thankful Thursday!

Patriots... You know, the ending story for those 56 Patriots that signed the Declaration of Independence is not a happy story... So, when we learn of their collective fates, we realize that freedom does not come free......

Published 07-02-2009 10:08 AM by Chuck Butler

Filed under: Employment, Currencies, China, Gold, Yen, Carry Trade, Sweden, GDP, Riksbank

Riksbank Holds Off On QE...

In This Issue..

* Currencies trade in a tight range...
* German Investor Confidence rises!
* Thoughts from Jim Rogers...
* Kohn on the economy...

Good day... And a Terrific Tuesday to you! I'm staring at all this white space on the Pfennig template, and I absolutely drew a blank... I couldn't think of, or can't think of a thing to say! Whoa there partner! That can't happen! There's got to be something, anything, to talk about... OK! I'm back now, I really have no idea where that was going, it was an out of body experience! HAHAHAHA!

OK... The currencies traded in a very tight range yesterday, after the dollar had ambushed them on Friday and in the Sunday night trading sessions. It's been a week since we saw currency strength, other than Japanese yen. So, we should be due for a bounce. There continues to be more whispering about the eventual dollar weakness, but for now, it's not enough to get us back to where the dollar should be trading on a fundamentals basis....

Published 04-21-2009 8:34 AM by Chuck Butler

Filed under: Currencies, Gold, Consumer Confidence, Interest Rates, Japan, The Fed, GDP, Germany, Bank of Canada, Jim Rogers, Reserve Bank of Australia, Riksbank

Dollar Shows Additional Strength...

In This Issue..

* Euro at one-month low... * Trichet talks rate cuts... * Riksbank & Bank of Canada this week... * The Mogambo on a Monday!

Good day... And a Marvelous Monday to you! Today is a special day, in that it is the Big Boss Frank Trotter's birthday! Happy Birthday Boss! Actually Frank is more of a very good, long time friend, mentor, and then boss. We've worked together for a very long time... I tell people at shows that Frank and I do together, that we've been working together for so long... The Dead Sea wasn't even sick when we began working together! HAHAHAHAHAHA!

OK... A bad day a the office for the euro and other currencies on Friday, and then last night in the overnight markets... European Central Bank (ECB) President, Trichet, once again deep-sixed the euro with talk of further rate cuts. He did attempt to water down the message by saying that "any rate cuts would be measured 25 BPS cuts" Memo to Trichet... It doesn't matter what the size of the debasing is, as long as you are going to debase your currency, the markets will make you pay for it!...

Published 04-20-2009 9:19 AM by Chuck Butler

Filed under: Employment, Oil, China, Silver, Gold, Euro, European Central Bank, Trichet, Bank of Canada, Riksbank

Geithner's Plan Disappoints...

* Trade Deficit to narrow further... * Currencies rally, then sell off... * Obama's stimulus loses backers... * Riksbank cuts 100 BPS unexpectedly... ** Geithner's Plan Disappoints... Good day... And a Wonderful Wednesday to you! Well... Tim Geithner didn't experience a Terrific Tuesday, as I had wished for him... And now, it looks as though the shine is coming off the new President as more and more individuals are "not buying" his appeal to the nation to get a stimulus package passed... The currencies rallied and then sold off after Geithner gave the details of his "new and improved" plan... We've got some potential market moving data printing today and more! So... Let's go to the tape!...

Published 02-11-2009 9:19 AM by Chuck Butler

Filed under: Currencies, Trade Deficit, Dollar, China, Gold, Bank of England, Citigroup, Riksbank, Timothy Geithner, Barack Obama, Stimulus

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%....

Published 12-04-2008 9:04 AM by Chuck Butler

Filed under: Currencies, Bailout, Home Sales, European Central Bank, Bank of England, Eurozone, Reserve Bank of New Zealand, Riksbank, Consumer Spending, Automotive Industry, Arnold Schwarzenegger

Central Bank Meeting Day...

* Euro fights back... * Germany Factory Orders drop... * BOE & ECB meeting today... * Riksbank raises rates! ** Central Bank Meeting Day... Good day... And a Thunderin' Thursday to you! A rainy Thursday for us here in St. Louis, as the rains from Gustav reach this area. There's another Hurricane in the Caribbean now... There are two Central Bank meetings going on as I write this morning. The European Central Bank (ECB) and Bank of England (BOE) both are meeting this morning, and both are expected to leave rates unchanged. More on this in a bit, the Fed's Beige Book, and more this morning, so let's go! Front and Center this morning, the euro spent yesterday on the rally tracks recovering from a 5-month low... When I turned on the screens this morning, the single unit was trading above 1.45 again, on expectations that the ECB would leave rates unchanged. But I've seen a softening in the euro, since arriving, that has come from an unexpected drop in German Factory Orders for the month of July....

Published 09-04-2008 9:15 AM by Chuck Butler

Filed under: Euro, European Central Bank, Bank of England, Germany, US Auto Industry, Riksbank

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