Browse by Tags

Daily Pfennig

Blog Subscription Form

  • Email Notifications
    Go

Archives

  • Fundamentals Return!

    In This Issue.

    * Currencies attempt to recover.

    * 10-year Treasury recovers.

    * Canada's jobs data is strong!

    * $136 Billion more stimulus for Japan.

    ...
  • The Dollar Bites Back!

    In This Issue.

    * Bernanke backtracks stimulus talk.

    * S&P one ups Moodys warning.

    * Gold & Silver fall back .

    * Aussie & kiwi can't fold lofty figures.

    ...
  • A Tag Team Match VS The Dollar.

    In This Issue.

    * Bernanke discusses more stimulus.

    * Moodys warns of a downgrade for U.S. debt.

    * Gold closes in on $1,600!

    * Swiss francs soar!

    ...
  • Frustratingly Slow.

    In This Issue.

    * Big Ben says stimulus is warranted.

    * Greek debt pressures return.

    * $13 drop in minutes for Gold?

    * German Industrial Production Slows.

    ...
  • Fed splits on need for stimulus...

    In This Issue.

    * Fed split on need for stimulus...

    * Treasury bubble in trouble???

    * The carry trade is back...

    * Oil helps boost the CAD$...

    ...
  • Australia and India raise rates...

    In this issue:

    * Australia and India raise rates...

    * Roubini warns of another asset bubble...

    * The only question is the size of the stimulus...

    * Hong Kong to drop the Renminbi peg???

    ...
  • Jobs Jamboree Friday

    In This Issue..

    * Range trading currencies...

    * ECB leaves stimulus in place...

    * If Chuck were king for a day...

    * Happy Labor Day!

    ...
  • Jobs Jamboree Disappoints... AGAIN!

    In This Issue..

    * Currencies rally on Friday...

    * But show some slippage this morning...

    * FOMC week, will they announce more stimulus?

    * Norwegian krone is best monthly performer!

    And Now... Today's Pfennig!

    Good day... And a Marvelous Monday to you! Well... I'm Baaaaaacccckkkkk! What a great vacation! Any time I get to spend time with my family, is special... And to do when you're camping... Well, if you've ever done that with your family, you know what I'm talking about... And talk about being "away from the markets"...

    So... Yesterday, I got all caught up with what Chris had to say last week, and let me stop here to say a BIG Thank You to Chris, for taking the conn on the Pfennig last week... A great job as usual! Chris did leave me a few notes on the Friday happenings and that helped me get the "motor" started to write this morning!

    ...
  • It Was a Risk Off Day!

    In This Issue..

    * Risk aversion sets in again...
    * IMF sends Gold to the woodshed...
    * Ron Paul chimes in...
    * U.S. data all prints good...

    Good day... And a Tub Thumpin' Thursday to you! How are you today? You know, I was thinking about that yesterday... I tend to tell you quite a bit how I'm doing, but I fail to ask you how you're doing... Heard one of my all-time fave songs on the way to work today, which put a smile on my face, and of course led me to sing-along! Oh! The name of the song? Mellissa - by the Allman Brothers...

    Well, front and center this morning, we had the entire day and a half rally in the risk assets completely erased, wiped out, and reversed yesterday... Recall, that I told you in the morning that the euro had lost about 1/4-cent while I was writing... Well, it held to near 1.37 until about mid morning, and then the trap door was sprung, and the euro went falling through the 1.37, and 1.36 floors!...
  • A Week Dominated By Data...

    In This Issue..

    * Both sides of the ship...
    * Currencies remain well bid...
    * ECB and Riksbank meet this week...
    * Baiting the hook for more stimulus?

    Good day... And a Marvelous Monday to you! The Heat Wave finally broke Saturday night, and we had just one of the most beautiful days yesterday that I have ever seen! Which was good, because we had a backyard full of first kids, and then family to celebrate Alex's 14th birthday!

    Well... We have a week ahead of us that will be dominated by the U.S. data cupboard. And this week, we'll get the June Jobs Jamboree (JJJ) on Thursday instead of Friday. Saturday is the 4th of July, and I guess the Bureau of Labor Statistics (BLS) isn't working on Friday! HA! No, they do this every now and then when the markets will be quite thin on a Friday before a Holiday weekend. And this week qualifies BIG TIME! It will be the 4th of July! And maybe, just maybe because you never know, someone in Washington D.C. will realize that the it's supposed to be about WE THE PEOPLE, not we the politicians......
  • Labor Market Continues To Deteriorate...

    * Merkel leaves us wanting... * Gold soars higher overnight! * Indian rupees' worst week! * Greenspan = Very Bad Idea! ** Labor Market Continues To Deteriorate... Good day... And a Happy Friday to one and all! It got cold here again... I can't wait for my March trip to a warmer climate! GM's Swedish unit Saab is filing for protection from creditors, so that it can reorganize into a business independent of GM... Hmmm... Everyone is jumping the GM ship... Well, it's Friday, and that means yesterday we saw the print of the Weekly Initial Jobless Claims... And once again, the rot on labor's vine was exposed... The total Claims files last week was 627K, the experts had forecast 600K... But here's the thing that really hits home... The number of Americans collecting unemployment benefits has jumped to 4.99 Million, and each week and new record number is established... It certainly tells me that the labor market is still deteriorating......
  • A Retail Sales Surprise!

    * 623K new unemployment claims filed.. * G-7 begins today.. * Dealing from a position of strength.. * Valentine's Day tomorrow! ** A Retail Sales Surprise! Good day... And a Happy Friday to one and all! Front and center this morning, a Continental regional plane crashed near the Buffalo airport overnight, and all 48 on the plane were killed, along with 1 person in a home. Not Happy news for a Friday morning, for sure... Our thoughts should be with the familes of these people today... I want to say thank you to all who responded yesterday to me regarding my hissy fit I had yesterday morning regarding the minority objections to my opinions... The vote is in... It was a landslide in favor of me being me, and not what the few objectors want me to be. So, I will continue writing the Pfennig in the manner the majority expect... I don't want this to sound cold, but those that feel the need to send me nasty emails, could you please just unsubscribe instead?...
  • It's Not My Fault, It Must Be Yours!

    * What's $78 Billion among friends? * Currencies fade with bias to buy Gold... * Could the Carry Trade Unwind be done? * U.S. soccer beats Mexico... ** It's Not My Fault, It Must Be Yours! Good day... And a Thunderin' Thursday to you! Well... Front and center this morning, I'm going to tell you something that will surprise a few and make a few happy. I've had my say on the Bailouts, TARP, Stimulus, and spending. I've beaten them to a pulp, and some readers have expressed their contempt with me carrying on with this beating. So... Unless something cracks, I'll just leave it all as it stands, and go on with life. This all has been too much for my blood pressure to take! I'll report the facts on this stuff, and leave the commentary for people that think they "know better"... For instance, it was reported the other day that the Treasury Dept. has overpaid for stock received from TARP recipients by $78 Billion. You see, for every $100 given in TARP, the Treasury was to receive $100 in stock / assets, but when all the beans are counted, the Treasury is $78 Billion short on stock /assets... But, what the heck, what's $78 Billion among friends?...
  • 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!...
  • The Geithner Plan Day!

    * Talking stimulus again...* Currencies rally, then sell off... * Aussie Business Confidence slumps... * The Mogambo on Gold... ** The Geithner Plan Day! Good day... And a Terrific Tuesday to you! The President talked to us last night regarding the "new and Improved" Stimulus package. He sounded a bit defensive, don't you think? But, I will say this, he tried to stay on the high road, when defending the package. He really ripped people like me, that oppose the package, and see it as spending only. I think he forgot to mention that people like me that oppose it, oppose it because we can't afford it! But the President firmly believes our economy could completely collapse without this, so I can see where he feels the urgency to get this bill signed. OK... Enough of that! I don't like talking about stuff like that, because I'll have 100 people write me nasty emails about politics, and 100 people write me that I was bang on!...