Category Archives: Equities

Hours of Work Needed to Buy the S&P500

Posted on November 11, 2011 by macromon

Here is an interesting take on the valuation of the S&P500 by our friends over at The Chart Store, who do excellent work.  Their chart shows that it now takes 69.23 hours at the average hourly wage of $19.53 to … Continue reading →

Posted in Charts, Employment, Equities | Tagged , | 1 Comment

Nonlinear Thinking: Robot Run Warehouses

Posted on November 10, 2011 by macromon

Here’s an interesting video clip that reinforces our view that almost all new innovation and technology is labor saving/destroying and that U.S. unemployment is much more structural than most perceive (click here to view video).   Even the military, with the … Continue reading →

Posted in Employment, Equities, Nonlinear Thinking, Policy, Politics | Tagged , , , , , | 1 Comment

SocGen Takes €333 M Hit on Greek Exposure, Increases Loan Loss Reserves to 60%

Posted on November 7, 2011 by macromon

The European banks are finally starting to face reality.   Provisioning against potential losses is the first step toward a comprehensive restructuring and final solution to the European debt crisis.   Taking losses,  suspending dividends, and limiting bonuses are painful for … Continue reading →

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

BNP Paribas Increases Reserves on Greece Exposure to 60%

Posted on November 2, 2011 by macromon

BNP Pariabas,  Europe’s largest bank in terms of total assets,  took a €2.1 billion hit to earnings after increasing reserves on its Greece exposure to 60 percent,  up from 21 percent last quarter.  The European banks are finally getting serious, … Continue reading →

Posted in Black Swan Watch, Equities, Euro, PIIGS, Policy, Politics, Sovereign Debt, Sovereign Risk | Tagged , , , | Leave a comment

Seasonal Greetings!

Posted on October 31, 2011 by macromon

Great chart with all the right colors from our friends over at The Chart Store.  They have an amazing collection of financial and economic charts and data going way back. Tough to trade on historic average monthly returns.   The … Continue reading →

Posted in Equities, Global Stock Performance | Tagged , , | 1 Comment

Stock Market Melt Up: November 1998 or December 2008?

Posted on October 27, 2011 by macromon

Stunning!  The S&P500 at its high today was up 20.3 percent from the October 4th intraday low of 1074.77. We’re talking the S&P500, not the Brazilian BOVESPA or Hang Seng Index!  This kind of initial move in the S&P500 in … Continue reading →

Posted in Charts, Equities, Global Stock Performance | Tagged , , | 12 Comments

Greece Private Bondholders to Reduce Claims by 50%

Posted on October 26, 2011 by macromon

The FT reports, European leaders reached a deal with Greek debtholders on Thursday morning that would see private investors take a 50 per cent cut in the face value of their bonds, a deep haircut that officials believe will reduce … Continue reading →

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

Is the Euro Driving the S&P500?

Posted on October 22, 2011 by macromon

In case you haven’t noticed recently the Euro and S&P500 seem to be moving together almost tick for tick.   Here are the daily moves in futures over the past month.  Makes you think they’re both dancing to the same … Continue reading →

Posted in Black Swan Watch, Charts, Equities, Euro, PIIGS, Sovereign Debt, Sovereign Risk | Tagged , , | 1 Comment

Night Sweats of a Money Manager

Posted on October 21, 2011 by macromon

With about 40 minutes of trading, the S&P500 has pierced its 1230-33 resistance (which includes the 100-day moving average)  though has come in a little from its morning high.   Closing above the 100-day at 1232 will be an important win … Continue reading →

Posted in Equities, Global Stock Performance | Tagged , , , | 1 Comment

S&P500 Key Levels

Posted on October 19, 2011 by macromon

It’s kind of useless, in our opinion, to be looking at the technicals as the market approaches the big life or death event.   The EU debt plan is either going to be taken positively, in which case the S&P500  will … Continue reading →

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