Prices Down, Interest Rates Up
Yesterday the price for the 10-year Treasury note ticked down 15/32 to yield 2.212% while the 30-year fell 25/32 to yield 3.367%. Investors reaching out on the yield curve should not be surprised by this downward price action. The Treasury market paid no attention to Standard & Poor’s upward revision,... Read the full story
Billionaire Bond King Bill Gross Slams Ben Bernanke
Bill Gross is out with a scathing new Investment Outlook on Dr. Bernanke’s misguided monetary activism. Click here to read more. Below are the highlights. You can read the letter in its entirety here. Central banks – including today’s superquant, Kuroda, leading the Bank of Japan – seem to believe... Read the full story
Retired Teachers Pay High Fees to Lag the Market
I’d get teacher pensions out of hedge-funds altogether. Retired teachers would be aghast if they truly understood how their money is being “invested”. Click here to read more. Amid questions and criticisms regarding the State of Rhode Island’s hedge-fund investments, Rhode Island General... Read the full story
Volcker Delivers Punishing Blow to Bernanke Fed
In a speech this week to the Economic Club of New York former Federal Reserve Chairman Paul Volcker delivered a punishing blow to the misguided monetary activism of the Bernanke Fed. This is the best speech on economic policy you will read this year. Click here to read more. Volcker has under his belt... Read the full story
Investing in the Dark
You can be sure there’ll be a price to pay for Federal Reserve Chairman Ben Bernanke’s easy-money policies. Retirees are already feeling the hurt with his 0% interest rates. There was a time, not too long ago, when savers and retirees could depend on Treasury bonds. Not anymore. Click here to read... Read the full story
This Global Index Is up 27% within Six Months
You need to make sure you have a safe harbor for your money. Yes, I know it’s been a good year for the market, but what is supporting it? Take a look at the Baltic Dry Index. Click here to read more.It shows the cost of transporting bulk goods across the world’s oceans. It’s up 27% YTD as shown... Read the full story
Will Summer Spell the End of the Bull Market?
As U.S stock prices continue their liquidity-fueled ascent, the rationalizations for remaining bullish on the U.S. stock market become more perverse by the day. Barron’s is calling this the TINA market, as in There Is No Alternative to U.S. stocks. Click here to read more. How comforting. The best... Read the full story
Guaranteed Income for Life!
Have you gone to a free dinner yet to hear about the lifetime income guarantee? Unfortunately, a client of mine did. He and his wife were lured in by the free dinner and listened to a presentation on annuities. Afterward, they talked to the guy and agreed to meet with him at their home the next week. Click... Read the full story
Stocks to Get You through a Historic Collapse
How would you like a 30-year partnership with the U.S. government where you get paid 2.82% a year? Ugly, right? Well, that’s the current yield on the 30-year Treasury bond. As you can see, it doesn’t get much worse than that. Click here to read more. For your trust and generosity, the government... Read the full story
Mini Flash Crash
Here’s a snapshot of last week’s mini flash crash initiated by a false tweet. Trading programs scour social media and then trade on the information. See the early afternoon crack in the market? It may have ruined the back nine for the poor guy with the executed stop loss that never got back in. It’s... Read the full story
