Reuters Columnists
Banks and other investors like money-market funds are making a cool and calculated decision to grab super-safe securities to gussy up balance sheets and put idle cash to work before the end of the year. With the Fed holding overnight rates close to zero, don’t be surprised to see these yields flirt with negative territory again. Read more
Fed audit throws a monkey wrench
The Fed audit bill makes it a bit harder to pass financial regulatory reform next year. There are jagged policy disagreements between Frank and Dodd, as well as between Dodd and Richard Shelby, the ranking GOP member on his committee. The Fed audit amendment doesn't make agreement any easier.
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Washington's next anti-Wall St wave
Wall Street is hardly getting any more popular with Main Street. The Goldman Sachs Apology Tour is evidence of that. And there are a mid-term elections in less than a year. Republican candidates will probably do well as high unemployment continues to drive voter anger at incumbents. And those new Republicans are likely to be infused with the ethos of the Tea Party movement: anti-TARP, anti-Fed, anti-bailouts and anti-Wall Street.
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The Fed is sending gold higher
Is gold going to $6,300? Dylan Grice, an analyst with Societe Generale, says it's possible, given the decline in central bank credibility. But investors need to keep one thing in mind: Gold is merely a vehicle to protect the purchasing power of money. Read more | Comments (12)
M&S makes smart buy from Morrisons
The market's reaction to the defection of Marc Bolland from William Morrison to Marks & Spencer looks the right one. Morrisons has a fresh headache, and may not have internal talent of sufficient quality to plug the gap quickly. Meanwhile, Bolland's record should give him the confidence to deal with the egos at M&S.
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James Pethokoukis
Political Risk
Goldman Sachs forecasts nightmare 2010 economic scenario for Dems Comments (5)
Trust me, these are not the kind of numbers that the White House and congressional Democrats want to see. Read more
Felix Salmon
sailing the rough rude sea
Annals of news-burying, Overstock edition Comments (1)
Friday was the Financial Follies -- which means that most of New York's financial journalists descended on the Marriott Marquis for the evening. The joke going around was that Friday afternoon would be a great day to bury bad news, a la Jo Moore, on the grounds that even fewer people would be around to cover it than would normally be working on a Friday after the markets close.
Read moreRolfe Winkler
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Lunchtime Links 11-22
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