Monthly Archives: December 2012

Weekly Eurozone Watch – Greece Bond Yields Plunge

Posted on December 14, 2012 by macromon

Key Data Points German 10-year Bund 5 bps higher; France 4 bps tighter to the Bund; Ireland 3 bps wider; Italy 3 bps wider; Spain 12 bps tighter; Portugal 52 bp tighter; Greece 149 bps tighter; Large Eurozone banks up  … Continue reading →

Posted in Weekly Eurozone Watch | Tagged , , , , | 2 Comments

Apple’s Problem? A Matter of Scale

Posted on December 14, 2012 by macromon

Apple’s brutal downdraft continues, now down over $20 on the day as we post. What’s the problem?  Lack of lines for the iPhone5 in China?  Maybe today’s catalyst. We think, however, the market is coming to the conclusion the company … Continue reading →

Posted in Apple | Tagged , , , | 8 Comments

The Fed on Food Stamps

Posted on December 13, 2012 by macromon

Wow!   The food stamp program is now equivalent to 14 percent of all U.S. grocery store sales. Though the Fed indirectly finances the food stamp program with its purchase of treasury securities — $45 billion per month starting in January … Continue reading →

Posted in Banking, Monetary Policy | Tagged , , | 1 Comment

Charlie’s Greenroom with The Full Mario Monti

Posted on December 13, 2012 by macromon

See the personal side of Italy’s Prime Minister, Mario Monti. Click here for the 2 minute Q&A interview.  (click here if picture is not observable)

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Japan’s Tankan Survey Tanks to 3-year Low

Posted on December 13, 2012 by macromon

Japan’s Tankan index measuring business confidence fell to a 3-year low.   Here’s Bloomberg, Big Japanese manufacturers are the most pessimistic in almost three years after a diplomatic dispute with China and Europe’s austerity measures dragged exports to a fifth monthly … Continue reading →

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China Flash PMI at 50.9, 14-month High

Posted on December 13, 2012 by macromon

Markit just reported, (click here if charts are not observable)

Posted in China, PMIs | Tagged , | 1 Comment

Quote of the Day: Trade Reversals

Posted on December 12, 2012 by macromon

Shipping lines used to sail one full container to Asia fromEurope for every three loaded with China-made goods that came back. Those “massive” imbalances are easing now as Europe consumes less and China more, according to BIMCO shipping analyst Peter Sand. … Continue reading →

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China’s Skyscraper Curse

Posted on December 12, 2012 by macromon

We Dubai Chinese stocks because they’re down so much.   This gives us pause, however. (click here if video not observable)

Posted in China | Tagged , | 1 Comment

Chart of the Day: Operation Twisted Yield Curve

Posted on December 12, 2012 by macromon

Interesting chart from Bloomberg on how the Fed’s treasury holdings have changed under operation twist, or more formally, the Maturity Extension Program and Reinvestment Policy. After the end of the month no more selling of the short end to buy … Continue reading →

Posted in Bonds, Chart of the Day, Economics, Monetary Policy | Tagged , , | 1 Comment

Apple’s Profits in Context

Posted on December 11, 2012 by macromon

How big is Apple?  Big. Statista’s nice graphic juxtaposes Apple’s profits against others – combined! If an an independent country, Apple’s annual profits would rank as the 85th largest GDP in the world out of the 186 countries monitored by … Continue reading →

Posted in Apple | Tagged , , | 1 Comment