Archive - Nov 18, 2009 - Story

The message the market is sending to Bernanke is melting up with each passing day.

You just have to love a document that begins by begging apology for brazenly ignoring what were once general legal principles.

"While there are Dollar-funded carry trades and certainly other cyclical factors behind the Dollar’s weakness, we do not think we are seeing a speculative ‘carry bubble’ for now. The difference being a 20% strengthening in the Dollar upon a reversal, over say 3 months as opposed to 3 days for the latter." - Goldman Sachs

• Housing starts plunge 10%; has been a while since CNBC uttered green shoots (Bloomberg)
• Consumer prices increase 0.3% (0.2%) core as Americans pay more for gas (Bloomberg)
• Private equity funding plunges 62% at Calpers amid fee review (Bloomberg)
• Low U.S. stock trading volume heralds more gains (Bloomberg) with momentum algos marginal buyers as market-economy decoupling accelerates
• The other side of the dollar: The truth behind currency devaluation (MarketWatch)
• Mexico, Colombia plan samurai bond issues to tap Japan investors (Bloomberg) [waiting for Mauritius to plan dollar bond issue to "tap US investors"]

• Asian stocks mixed amid caution regarding valuations; European shares higher.
• China faces dangers of asset bubbles as economy expands, PBOC Adviser.
• Chinese cities facing energy shortfalls as cold spell boosts demand.
• EU clears government help for ING and KBC after banks shed operations.
• Euro up to $1.4905 in European morning despite central bank calls for stronger dollar.
• Foreign demand for long-term U.S. financial assets grew to $31.7B in September.
• Golden era' could bring vaccines against AIDS, Alzheimer's and addictions in 5 years.

The blog of the Legal Times reports that the United States Securities and Exchange Commission, winner of last year's "prestigious" CEAR Award for Fiscal Responsibility and Accountability, "falls short" in its yearly audit.