“That will never happen to this country.” – Timothy Geitner in response to suggestions that the U.S. Treasury may one day lose its Aaa credit rating. Perhaps inspired by Niall Ferguson’s dramatic Financial Times piece, “A Greek Crisis Coming To America“, we see today as a prime opportunity to recap our short U.S. Long Term
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Bernanke and the crew will get started bright and early behind the collasal locked mohagany doors of the FOMC board room Tuesday morning, while traders will ernestly focus on the information at hand. A slew of earnings from Ashland (ASH) (0.71 EPS est.), Corning (GLW) (0.42 EPS est.), Delta Airlines (DAL) (-0.24 EPS est), DuPont (DD)
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Earnings season officially began, as the first member of the S&P 500 and Dow Jones Industrial Average to grab Q4 2009 earnings headlines, Alcoa (AA), reported a net profit of $0.01 EPS on Monday, January 11. The shortfall to the $0.06 EPS market consensus was explained by CEO Klaus Kleinfield by the unexpected weakness in the dollar,
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The January 11-15, 2009 week will be crucial to the movement of equities and commodities over the next month. This addition of the Weekly Spectrum will recap the December Employment report and explain which economic reports will affect U.S. financial markets in the week ahead. The December Non-Farm Payroll report dropped traders' jaws as if they
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The Institute for Supply Chain Management surprised the world on Monday morning, as they announced the results of their manufacturing managers survey. The report is essentially a survey where every manager is asked to respond to his own experience. Each manager states whether they see conditions improving, deteriorating or remaining constant, with respect to thirteen main criteria. The December survey’s
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With the autumn comes the brisk northern air that reminds us of the fragility of life and the strict laws of nature; lessons which most years occupy a few thousand microns of brain tissue as such trivial metaphysical notions pass under the radar of consciousness. Yet it seems that we humans subscribe to a separate reality
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The 10 Year Treasury Note is the benchmark debt product of the Treasury and as the benchmark it's meant to represent the strength of the U.S. Treasury's balance sheet. If this holds true, the current fiscal strength of the U.S. Treasury is hampered at best. Debt markets are generally much less exciting than equity markets,
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The Direxion 10-Year Treasury Note 3X Bear ETN (TYO) is a leveraged ETN which is designed to move in tandem with the yield on the 10-Yr Treasury Note, opposite the price, and with three times leverage on a daily basis. Like many leveraged and inverse ETNs this one carries risks, especially when holding the product
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One of most common and least sexy trades throughout the global hemispheres of market movers is the U.S. Treasury Bonds trade. Those brave enough to dive long into equities or commodities on the shoulders of the current are both delusional and progressively dwindling in numbers. This has rebuilt a twinge of respectability among current traders, as a "topping out" formation is building
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