Home sales up 73 in Sacramento
Tuesday, August 19th, 2008Top Stories Home sales up again across Sacramento region sacbee.com…
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Archive for August 19th, 2008
Time for Commodities
Tuesday, August 19th, 2008I wrote both last Friday in our performance updateIronically in this buy the…
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What Could Trigger a Reversal in the US Dollar
Tuesday, August 19th, 2008Here is an article that I posted on GFTs website…
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The Calls of the Wild
Tuesday, August 19th, 2008Since SPX seemed so stubborn, I closed my NDX and IWM puts at nice profits…
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Energy Calls
Tuesday, August 19th, 2008I am buying energy. Here are the symbols and stop prices for the calls…
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More Negative Press for Fannie and Freddie
Tuesday, August 19th, 2008Last week former Federal Reserve Chairman Alan
Greenspan strongl
y criticized the form of the Congressionally mandated Freddie
Mac/Fannie Mae “backstop” program and a survey by the Wall
Street Journal found that a small majority of economists involved thought
the bailout of the two government sponsored entities (GSEs) would
ultimately be invoked, handing taxpayers responsibility for their $5.2
trillion debt.
Meanwhile, more voices were added to the chorus of experts and pundits
predicting that government intervention will be required.
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Fed’s Lacker Says Rate Hike Should Come Sooner Rather than Later
Tuesday, August 19th, 2008Speaking in an interview with Bloomberg TV, Richmond Federal Reserve
President Jeffrey Lacker (non-voter) said the Fed should
not wait too long for a rate hike.
The Richmond Fed President said inflation will slow if oil prices
drop. He added that inflation is still a “risky situation,” and that
keeping inflation in check requires a tight monetary policy…
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Fed’s Fisher Says FOMC Cannot Risk Credibility, Must Act if Inflation Continues
Tuesday, August 19th, 2008The Federal Reserve must be prepared to take action
and curb inflation if slowing growth doesn’t moderate prices as expected,
said the most hawkish member of the FOMC on Tuesday.
Dallas Fed President Richard Fisher (voter), who has
dissented from keeping interest rates on hold at the last two FOMC
meetings, said the Fed will put its credibility at risk if it fails to
combat inflation. He said the Fed has…
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Soft Freddie Mac 5-Year Auction Shows Credit Worries
Tuesday, August 19th, 2008U.S. government-backed mortgage finance company Freddie Mac
caused ripples through the debt market on Tuesday after weak
results in a $3 billion, 5-year note auction.
The reference note sold for 113.0 basis points above the 5-year
Treasury benchmark. Before the auction, the 5-year spread was 105 bps.
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Weakening Economy Favours Obama Win, Economists Say
Tuesday, August 19th, 2008The weakening economy is a major negative factor for the Republicans
and presents candidate John McCain with an uphill battle
for the Oval Office, economists from Global Insight say.
Historically, there has only been one other election year where year-
over-year growth in disposable income per capita was negative, noted
Nigel Gault, chief U.S. economist at Global Insight…
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