Enlarge image U.S. Federal Reserve Chairman Ben S. Bernanke U.S. Federal Reserve Chairman Ben S. Bernanke. U.S. Federal Reserve Chairman Ben S. Bernanke. Photographer: Scott Eells/Bloomberg Bond traders are cutting expectations for U.S. inflation by the most since December, providing Federal Reserve Chairman Ben S. Bernanke the scope for additional stimulus as the central bank’s current effort winds down. With six weeks left before the end of the Fed’s $400 billion swap of short-term debt for longer-term securities in a program known as Operation Twist, everything from yields on securities that protect against rising consumer prices to a measure of the outlook for inflation in the forwards market show diminished concerns. Traders are pricing in a 55 percent chance that the central bank will begin ... Continue reading →
"It's going to seem like we're in the middle of nowhere," said Chris Martinez, founder of trail-running guide service 360 Moab Adventures.He met me on Main Street in Moab, Utah, a few miles east of where we would be running on the Amasa Back desert trail. He had two new water bottles strapped to his hands, a common sight among extreme runners."Once we get on the trail we're going to be isolated," said Martinez, who has black tribal plugs in his earlobes and Aztec tattoos on his legs. "It's amazing."During the drive to the trailhead, he pointed out Navajo sandstone cliffs named Wall Street that are sought out by rock climbers and others from which you can sometimes see base jumpers.Moab is a mecca for ... Continue reading →
Greece Likely to Exit Euro This Year, FX Concept’s Taylor Says By John Detrixhe and Erik Schatzker - Tue May 08 13:02:02 GMT 2012 May 8 (Bloomberg) -- David Zervos, market strategist at Jefferies & Co., talks about the potential impact of last weekend’s elections in France and Greece on the euro zone and investors. Zervos speaks with Erik Schatzker, Stephanie Ruhle and Scarlet Fu on Bloomberg Television's "InsideTrack." (Source: Bloomberg) Greece will probably leave the euro as soon as next month as the government runs out of cash and European institutions fail to lend more to the nation, according to John Taylor of hedge fund FX Concepts LLC. “This summer I think is very likely,” Taylor, founder and chief executive officer of FX Concepts ... Continue reading →
EU Elections Spur Uncertainty, El-Erian Says: Tom Keene By John Detrixhe and Tom Keene - Thu May 03 15:07:01 GMT 2012 Enlarge image PIMCO's Mohamed El-Erian Mohamed El-Erian, chief executive officer and co-chief investment officer of Pacific Investment Management Company LLC (PIMCO). Mohamed El-Erian, chief executive officer and co-chief investment officer of Pacific Investment Management Company LLC (PIMCO). Photographer: Patrick Fallon/Bloomberg European elections are driving up market uncertainty as austerity measures have slowed economic growth while failing to resolve the region’s crisis, according to Pacific Investment Management Co.’s Mohamed El-Erian. “There is much more awareness of what needs to be done,” El-Erian, the chief executive officer of the world’s largest manager of bond funds, said in an interview on Bloomberg Radio’s “Bloomberg Surveillance” with Tom ... Continue reading →