Monthly Archives: June 2012

Squirrelly Summer Market

Posted on June 20, 2012 by macromon

Squirrelly trading after the FOMC announcement.   Looks like real money is on vacation and traders just flipping with each other.   No big sellers and shorts forced to cover Headlines out of Europe show a little more flexibility from Germany … Continue reading →

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More Pain in Spain

Posted on June 19, 2012 by macromon

Though yields dropped about 20 bps today,  the pain continues.   Big move in the German 10-year bund since June 1st –  1.17 to 1.51 percent! (click here if video is not observable)

Posted in Black Swan Watch, Euro, German Bund, PIIGS, Sovereign Debt, Sovereign Risk | Tagged , , | Leave a comment

Relative Unemployment Rates – State vs National

Posted on June 19, 2012 by macromon

More interesting data from the BLS, In May 2012, 27 states had unemployment rates that were significantly lower than the U.S. rate of 8.2 percent, while five states and the District of Columbia recorded rates significantly above it. The remaining … Continue reading →

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Charlie Rose: James Fallows on China’s Economy

Posted on June 19, 2012 by macromon

Interesting interview with the Atlantic correspondent, James Fallows, on China’s economic future.  He views China in the framework of his new book,  China Airborne, and talks about how the country is trying to transform itself by supporting certain industries.    An … Continue reading →

Posted in China | Tagged , , , | 1 Comment

U.S. Economic Releases – June 19

Posted on June 19, 2012 by macromon

Econoday reports, Housing on “slow mend” despite -4.8% headline number No one number explains the housing starts report today. The headline was down but there were upward revisions and permits were up in May. And starts weakness was in the … Continue reading →

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Where The Inflating Things Are

Posted on June 18, 2012 by macromon

On the eve of the Fed’s FOMC two-day meeting we thought this chart illustrating what is inflating in the U.S. consumer basket very relevant.   Don’t see much deflation x/ energy and the core CPI (x/ food and energy) remains stuck … Continue reading →

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G20 Puts Squeeze on EU Policymakers

Posted on June 18, 2012 by macromon

(click here if video is not observable)

Posted in Black Swan Watch, Euro, Eurozone Sovereign Spreads, Italian Yields | Tagged , , , | Leave a comment

VIX and Euro Divergence

Posted on June 18, 2012 by macromon

Lot’s of interesting divergences today. Check out the VIX and Euro both moving down today, which diverges from recent history.   The VIX is down over 11 percent today, which could be position squaring before options expiration.  We suspect that many … Continue reading →

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Greece Is Not The Word

Posted on June 18, 2012 by macromon

Check out today’s action  in European sovereign credit and bank equities after the the better than expected results from the Greek election.   Spain and Italy blowing out and Euro bank stocks clearly demonstrates the market is beyond Greece and looking … Continue reading →

Posted in Black Swan Watch, Euro, Eurozone Sovereign Spreads, Italian Yields, PIIGS, Sovereign Debt, Sovereign Risk | Tagged , , , , , | Leave a comment

Images from Greece’s crucial election – Reuters

Posted on June 17, 2012 by macromon

(click here if video is not observable)

Posted in Black Swan Watch, Euro, PIIGS | Tagged | Leave a comment