First US City Bankruptcy Imminent

By / June 27, 2012

Market Comment Markets were fairly tame overnight, with no major news on the European front. However, conditions continue to deteriorate domestically in the US and the city of Stockton, CA appears to be the first victim. First US City Bankruptcy Imminent City managers in Stockton, California have announced that talks between the city and creditors… Read more

Ongoing Weakness in Europe

By / June 26, 2012

Market Comment Markets are tame today following yesterday’s 1% selloff; commodities remain weak with Crude Oil still around $79/bbl and Gold is off 0.5% to $1,580/oz. Rising Spanish Borrowing Costs Spain’s precarious financial situation went from bad to worse in June. Borrowing costs tripled for the struggling European nation, with the 3-month yield rising to… Read more

Negative Fundamental Data – Risk-Off

By / June 21, 2012

Market Comment Markets are falling off this morning following a slew of weak economic data from China, Canada and the US. As expected, the Fed moved yesterday to extend “Operation Twist”; however, markets were surprised when they did not move more aggressively to ease policy. Weak US Data The Philly Fed manufacturing index for June… Read more

Markets Flat Ahead of FOMC Meeting

By / June 20, 2012

Market Comment Markets are quiet leading into this afternoon’s FOMC press conference. The expectation stands that the Federal Reserve will continue with some form of quantitative easing, though it remains unknown whether it will be an extension of ‘Operation Twist’, additional cash stimulus, extension of near-zero interest rates, etc.. Greece Swears in PM Greece has… Read more

Central Bank Coordination & Greek Election

By / June 15, 2012

Market Comment Markets are tentative as we head into the weekend. Investors are tentative ahead of the Greek elections on Sunday which could seal the fate of Greece’s participation in the Euro. Central Bank Intervention Central banks made a coordinated effort yesterday to reiterate that Europe’s ongoing debt crisis, and more specifically political uncertainty in… Read more

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