$3.2 billion. That’s the record trade surplus Australia’s Bureau of Statistics announced on August 3, thanks in part to Chinese demand for the country’s rich iron ore and coal exports. And that’s just the latest good news from the island continent that has speculators feeling bullish about the Australian dollar (AUD). But a closer look [...]
China’s report of 11.9 percent GDP growth in the first quarter of 2010 – the fastest pace since late 2007 – has China watchers buzzing and looking for how (if at all) Beijing may respond. CLSA, the influential brokerage based in Hong Kong, put out a research note today titled “Fast but Not Frightening.” It [...]
Our economy is about to relapse into the disease that sent us into the Great Depression: Part Deux. Subprime loans caused the initial illness. Option-ARMs will cause the relapse. In the first half of the past decade, subprime loans were king. They were cheap and easy to get approved. Along with the subprime boom came [...]
On Friday morning, it was a risk off day… But as the day wore on, risk came back into the currencies…. And today, it’s REALLY a risk on day! Apparently, at some time on Friday, someone with a lick of brains realized that the Fed is going to keep their stimulus measures – which include [...]
The U.S. government will finish its historic streak of debt sales today with a record $16 billion offering of 30-year bonds. This will pile on top the $65 billion in 3-year and 10-year paper auctioned earlier this week, both records in their own right. It’s worth noting that Monday’s auction for 3-year debt was met [...]
