Tom Keene on Muck Rack

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Host, Bloomberg Radio — Bloomberg News

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It's Time to Get Real on the Still-Negative Real Yield — What's the price of money? What's the interest rate? What is inflation? Let's get real. The bond yields we live with day to day and moment to moment are nominal yields. Another phrase is the current yield. Right now, the all-American, full-faith-and-credit 10-year U.S. Treasury yield is 2.1808 percent.

Summer's Over-Get Smart on Cash Flow and Become a Very Serious Investor — In 1863, the Dowlais Iron Company had recovered from a business slump, but had no cash to invest for a new blast furnace, despite having made a profit. To explain why there were no funds to invest, the manager made a new financial statement that was called a comparison balance sheet, which showed that the company was holding too much inventory.

Remain Calm; Chaos Postponed — In 1931, a solar eclipse took place on Sept. 12 - the end of a "Shemitah" year. Eight days later, England abandoned the gold standard, setting off market crashes and bank failures around the world. It also ushered in the greatest month-long stock market percentage crash in Wall Street history.

Greece Is in Depression; Animal Spirit Is Negative — How to measure the "animal spirit" of Greece? By all accounts, the 11 million strong of the Hellenic Republic have endured their collective depression. But what could be considered a measure of how they are doing? Many economists suggest nominal GDP.

How to Breathe Life into the Death Cross and Not Lose Money — I'm death on the death cross. Joseph Ciolli, Bloomberg News, writes up the latest reincarnation of death, here. Jonathan Krinsky, chart champ at MKM Holdings, weighs in: "If you don't make any upside progress, the moving average will start to flatten and eventually turn down.

Four Charts That Will Help You Figure Out Where the Yuan Is Going — We are still scratching our heads trying to figure out why the devaluation happened and why, in particular, right now. ... We should be watching for an attack on the yuan, however, at least until the PBOC proves that it can resist speculative pressure. - Carl B.

The Seven Books You Must Read If You Want to Understand Oil — Oil sinks. Here is some light reading on light crude with a tilt to history, science, and talking your way out of a business meeting on various and sundry hydrocarbons. Read 1,000 pages, and you too can catch the commodity knife in the dark.

The Dollar Will Gain Against an Alpha-Bit Cereal of EM Currencies — Emerging market currencies remain under selling pressure as Fed liftoff comes back into focus. Between that and lower commodity prices, EM will have trouble finding much traction and so we remain bearish. USD-ZAR and USD-MYR are making new cycle highs today, and we expect USD-BRL, USD-CLP, and USD-COP to do likewise when Latin American markets open.

Scout Yellen Tied Up in Knots at Camp Ultra-Accommodative — Be Prepared. Once, I was not, and I got very, very lost in the Allegheny woods of Pennsylvania. I had no compass and it was getting dark, fast. For those younger, a compass was something you held in your sweaty, overconfident hand.

The Next President Must Avoid the Jimmy Carter Malaise — "With mediocre growth, the unemployment rate plunged roughly 3.5 percentage points. This implies that productivity growth has been negative for the last five years. ...We have a serious productivity problem in this country. If the Fed thinks they have the scope to deal with this, they are kidding themselves.
More Articles →
Sep 04, 2015

RT @lszelenko: Not Even 'Scissorhands' Can Cut Brazil Out of Its Fiscal Trap

Sep 04, 2015

RT @VonnieQuinn: Komal @SriKGlobal says weaker BRL doesn't help Brazil as much as it would have 10 yrs ago cos manufactured exports are down to 42% from 55%

Sep 04, 2015

RT @CSIS: Rising unemployment, protests, and corruption may lead to change of power in Brazil:

Sep 04, 2015

RT @steve_hanke: #Brazil’s debt-to-GDP ratio has risen to 64.5%, it’s only a matter of time before #Brazil’s credit rating is junk

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