Ellen's Feed
Feb 13, 2013
via MacroScope

Don’t fear inflation boogeyman: BofA’s Harris

Worries about potential side-effects of unconventional monetary policy on financial markets are at least exaggerated, if not a near figment of the imagination.

This appears to be the conclusion of a comprehensively-argued research note by Bank of America Merrill Lynch global economist Ethan Harris.

Feb 5, 2013
via MacroScope

New drama casts American Dream in a cold light

The American Dream distorted almost beyond recognition by mass foreclosures, women working on straight commission, men not working at all, and an alleged “higher power” who wants you to be rich beyond your wildest dreams, is the subject of the Women’s Project Theater’s production of “Bethany,” a new play by the young playwright Laura Marks.

The central character, Crystal, (played by America Ferrera, star of the “Ugly Betty” television series) is trying to regain custody of her daughter, Bethany, who has been placed in foster care because foreclosure has left her mother homeless.

Feb 4, 2013

Higher US bond yields may impede economic recovery

NEW YORK, Feb 3 (Reuters) – A rough couple of months in the
U.S. bond market has lifted interest rates off record lows and
could impede a slow economic recovery heavily dependent on cheap
money to keep going.

While stocks have surged to near-record levels from five
years ago, an accompanying rally in the $11.6 trillion U.S.
Treasury debt market appears to have run out of steam and bond
prices have dropped steadily since early December. That has
pushed up bond yields, which move in the opposite direction to
prices and they are now at the highest levels since last spring.

Feb 3, 2013

Analysis: Higher U.S. bond yields could impede economic recovery

NEW YORK (Reuters) – A rough couple of months in the U.S. bond market has lifted interest rates off record lows and now could impede a slow economic recovery heavily dependent on cheap money to keep going.

While stocks have surged to near-record levels from five years ago, an accompanying rally in the $11.6 trillion U.S. Treasury debt market appears to have run out of steam and bond prices have dropped steadily since early December. That has pushed up bond yields, which move in the opposite direction to prices and they are now at the highest levels since last spring.

Jan 25, 2013

Global stocks edge higher, data offsets Apple’s plunge

NEW YORK (Reuters) – World equity and commodity markets rose on Thursday on encouraging economic data, with U.S. stocks briefly topping a key psychological milestone despite a selloff in Apple shares that wiped out about $60 billion of its market value.

In currency markets the dollar soared 2 percent against the yen, on track for its biggest one-day gain in nearly 15 months, after a Japanese official said the government had no problem with the dollar strengthening to 100 yen.

Jan 24, 2013

Stocks edge higher, data offsets Apple’s plunge

NEW YORK, Jan 24 (Reuters) – World equity and commodity
markets rose on Thursday on encouraging economic data, but a
steep sell-off in Apple shares that wiped out about $50 billion
of its market value threatened to snuff a six-day streak of
gains in U.S. stocks.

Apple Inc dropped 12 percent to $452.26 after the
technology icon missed Wall Street’s revenue forecast for a
third straight quarter and threatened to topple it from its
ranking as the most valuable U.S. company.

Jan 24, 2013

World stocks higher, safe-haven U.S. debt slides

NEW YORK (Reuters) – World stock and commodity markets rose on Thursday on encouraging economic data, while U.S. stocks extended a six-day rally, sailing through the headwind of a revenue miss from Apple.

The yen resumed its drop and oil rose.

Business surveys showed growth in Chinese manufacturing accelerated to a two-year high in January and a buoyant Germany was leading the euro zone toward recovery. But they also revealed France was sliding back into recession.

Jan 24, 2013

Stocks higher, safe-haven U.S. debt slides

NEW YORK, Jan 24 (Reuters) – World stock markets rose on
Thursday and U.S. stocks extended a six-day rally, sailing
through the headwind of a revenue miss from Apple, while the yen
resumed its drop and oil prices gained.

The broad S&P 500 and the Dow Jones industrials stock market
indices both advanced. The Nasdaq composite index was lower, but
the entire loss – and more – was due to the drag from a 9.8
percent drop in the value of Apple.

Jan 23, 2013

Equities climb on strong earnings, yen steadies

NEW YORK, Jan 23 (Reuters) – U.S. and European stocks rose
on Wednesday, propelled by strong earnings reports and the
extension of the U.S. debt ceiling.

The advance in U.S. stocks put the broad S&P 500 stock index
just 4.7 percent from its all-time closing high of 1,565.15.

Jan 23, 2013

Equities up on company earnings, yen climbs

NEW YORK, Jan 23 (Reuters) – U.S. and European stocks moved
higher on Wednesday, helped by strong earnings reports and signs
American lawmakers were close to raising the federal debt limit.

Technology shares were a focus, with Apple earnings
due late in the day, following strong results from IBM and
Google on Tuesday.

    • About Ellen

      "I cover the U.S. Treasury market, including developments in monetary policy and the economy. I have covered these subjects since the Volcker era, though in between I covered stocks for UPI (and Reuters), the defense and aerospace industry and the retail industry. I occasionally write about culture: classical music, opera, museums, and culture-based travel. I live and work in New York City."
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