Monthly Archives: November 2012

Euros Still Debating Technicalities of Greek Debt Relief

Posted on November 20, 2012 by macromon

Amazing how the e-mini S&Ps can trade down over 10 points on a technical delay in the Greek debt deal.  Anybody who has worked on restructurings know these are very difficult issues to hammer out, especially with so many parties … Continue reading →

Posted in Euro, Germany, PIIGS | Tagged , , | 2 Comments

Post Election S&P500 Returns

Posted on November 20, 2012 by macromon

We wanted to update our table S&P500 returns post presidential elections.   As illustrated,  the returns are relatively positive.  This is especially true if the swan years of 2000, the contested election, and 2008, during the financial collapse are excluded.   … Continue reading →

Posted in Politics | Tagged , | 1 Comment

China’s Shanghai At New Lows

Posted on November 20, 2012 by macromon

The Shanghai Composite made a new low in Monday’s trading.  The country’s uber bear market seems to have slipped under traders’ radars as global markets obsess over the U.S. fiscal cliff. At the lows on Monday, the Shanghai Composite was … Continue reading →

Posted in China | Tagged , , | 5 Comments

France Pushes Back on the Moody’s Downgrade

Posted on November 20, 2012 by macromon

 This downgrade does not raise a question-mark over the fundamental economics of our country, nor the reforms undertaken by the government, nor our good reputation for borrowing. – Pierre Moscovici, French finance minister France’s 10-year government sovereign spread to the … Continue reading →

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Cliff Diving – Day 7

Posted on November 20, 2012 by macromon

Bernanke speaks.  Stocks tank.  Buyers step in.  Market closes unched. Stocks got spanked during Chairman Bernanke’s speech to the New York Economic Club but managed to claw back losses,  to close, essentially, unchanged.   Bonds and gold got whacked on possible … Continue reading →

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France’s AAA Moody Blues

Posted on November 20, 2012 by macromon

http://www.euronews.com/ The credit ratings agency Moody’s has stripped France of its prized triple A rating, cutting it by one notch to AA1. The agency said an uncertain fiscal outlook and a deteriorating economy were behind the decision for the downgrade … Continue reading →

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Quote of the Day: Government Intervention

Posted on November 19, 2012 by macromon

..in complex systems, we should limit government (and other) interventions to important matters: The state should be there for emergency-room surgery, not nanny-style maintenance and overmedication of the patient—and it should get better at the former. – Nassim Nicholas Taleb,  WSJ … Continue reading →

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Cliff Diving – Day 6

Posted on November 19, 2012 by macromon

No politician, no cry. The President is out of country and Congress is not in session.   Though Speaker Boehner tweeted a cheeky remark about where’s the President’s spending cuts,  all was quiet at the edge of the fiscal cliff. … Continue reading →

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Apple’s Big Day

Posted on November 19, 2012 by macromon

Apple confirmed its Friday hammer panic bottom with a $38 plus move higher, closing up 7.21 percent on the day.  Nice! How big was the move?  BIG! Apple’s $35.8 billion market cap increase on the day is larger than the … Continue reading →

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Negotiating the Fiscal Cliff on Twitter

Posted on November 19, 2012 by macromon

Times they are a-changin’. House Speaker,  John Boehner,  just tweeted this (around 2:55 PM eastern):

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