Uncategorized | timiacono.com - Part 30

Monday Morning Links

MUST READS
JP Morgan ‘may pay record $13bn fine’ – BBC
JPMorgan Said to Reach Record $13B Settlement – Bloomberg
There Will Be No $24B Economic Loss From the Shutdown – RCM
One insurer’s view of Obamacare – Washington Post
Obamacare Tech Fail May Do What the GOP Couldn’t – Fiscal Times
Critiques of the Greenspan FED and the Housing Bubble – Econospeak
Alan Greenspan still thinks he’s right – Washington Post
Yes, Economics Is a Science – NY Times
Stop this pretence – economics is not science – Telegraph
Did Monetary Policy Cause the Recovery? – Hussman Funds
The China-Debt Syndrome – Krugman, NY Times
Terminal Phases – Noland, Prudent Bear

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MARKETS/INVESTING
Stocks poised to build on gains – CNN/Money
Fed taper delay talk buoys shares, markets await data rush – Reuters
What coming correction? No rush to cash among ultrawealthy – CNBC
BIITS Replacing BRICs as Emerging Markets No Longer Blanket Buy – Bloomberg
Lessons of the 1987 Stock Market Crash, on Its 26th Anniversary – 24/7 Wall Street
Treasuries Losing Cachet; Foreign Demand Weakest Since 2001 – Bloomberg
Dollar inches higher but may soon fall back – MarketWatch
The Myth of the Successful Money Manager – Daily Infographic
Gold hovers above $1,300 on U.S. stimulus bet – Reuters
National Debt Over $17 Trillion – Up $328 Billion In A Single Day – GoldCore
Gold and Silver – Back Story vs Charts; Charts Are Superior – GoldSilverWorlds

ECONOMY/WORLD/HOUSING/BANKING
Get ready for Payrolls Tuesday – MarketWatch
Survey: US economists upbeat on economic growth – CNBC
Japan Posts Trade Deficit for Record 15th Month – WSJ
Why China Wants To Dump the Dollar – Testosterone Pit
S Korea, Malaysia sign US$4.7b currency swap deal – CNA
Lessons from the 1920s and the Gold Standard – Naked Capitalism
London house prices jump by £50,000 in a month – Guardian
Buyers finding fewer affordable homes in South Florida – Sun Sentinel
Housing bubble fully reflated in Irvine, California – OC Housing News
The effects of the Fed’s large-scale asset purchases – Econbrowser
The Nobel Laureates on equity bubbles – Financial Times
For big banks, breaking up is hard to do – MarketWatch

 

The Weekend Update is Now Available

The latest issue of the Iacono Research Weekend Update has been posted to the website and is now available for subscribers here. There will be no changes to the model portfolio or the buy ratings this week and this is a “Tables and Charts Only” version of the update.

The executive summary is as follows:

Hopes for a resolution to the ongoing government shutdown and looming debt ceiling crisis sent broad equity markets sharply higher late in the week, a move that was aided by President Obama on Wednesday who nominated dovish Janet Yellen to succeed Ben Bernanke as Federal Reserve chairman. Most economic data was unavailable due to the shutdown, but other agencies reported plunging consumer confidence.

Easing fears of a credit default and a rebounding dollar pressured gold and silver prices leading to a sharp sell-off on Friday as the rest of the natural resource sector advanced. REITs and China stocks rose while bonds were little changed as the model portfolio fell 1.5 percent, now down 25.1 percent for the year

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Friday Morning Links

MUST READS
The year the government broke – Politico
NY Fed Fired Examiner Who Took on Goldman – ProPublica
Obama, Republicans aim to end crisis after meeting – Reuters
Five debt ceiling deniers in their own words – CNN/Money
Default Doubters Repudiated by GOP Economists Citing Harm – Bloomberg
At Risk: The Dollar’s Privilege as a Reserve Currency – NY Times
Why the level of government debt may not matter – FT Alphaville
China warns US to ’stop manufacturing crises’, raise debt ceiling – Telegraph
America’s default on its debt is inevitable – Grant, Washington Post
New ‘deadline’ for fixing Obamacare glitches is mid-November – Reuters
Partisans Dug in on Budget, Health Care Impasse – Pew Research
Dealing With Default – Krugman, NY Times
There Is Life after Default – Mises

MARKETS/INVESTING
Stocks in wait-and-see mode after relief rally – CNN/Money
Rally Monkey thanks Republicans for unlocking his cage – FT Alphaville
J.P. Morgan, Trulia, and why you should fear a big rally – Marketwatch
Why It’s So Tough to Short This Market – MoneyBeat
Mr. Market Says, It’s All Good, Washington – Barron’s
Why We Want—But Can’t Have—Personal Finance in Schools – Time
Obama Says Real Boss in Default Showdown Means Bonds Call Shots – Bloomberg
Gold set for second weekly loss on signs a US debt deal may be reached – Reuters
European Central Bank Gold Sales Lowest Since 1999 Accord – Bloomberg
Moscow Exchange Plans Gold to Silver Trading to Broaden Appeal – Bloomberg
Gold struggles in Frankenstein economy – Futures Magazine

ECONOMY/WORLD/HOUSING/BANKING
Janet Yellen can’t fix the economy – MarketWatch
Inflation: The Real Deal Not Uncle Sam’s Charade – Sense on Cents
Southeast Asian Consumers Shrug Off Rising Food Prices – WSJ
Yuan moves one step closer to global currency status – CNBC
Rajan: India is not nearing a crisis – CNN/Money
Drop in gold imports trims India trade deficit – Financial Express
First time U.K. home buyers leap 33 percent – Telegraph
How The Shutdown Is Hurting The Housing Market – NPR
Lawmakers to FHA Chief DeMarco: You Can’t Reduce Loan Limits – WSJ
Subprime Loans Are Back In a Very Bad Way – Real Clear Markets
Fed officials split on policy, united on default danger – Reuters
The Drawbacks of Forward Guidance – Project Syndicate
Burying the economy to save it – Economist

 

Thursday Morning Links

MUST READS
Ryan steps up to shape a deal – The Hill
Obama’s Chicken Little challenge – Politico
Lew takes on debt limit ‘deniers’ – The Hill
The Dollar and the Debt Ceiling – Project Syndicate
No default? Accept that assumption at your own risk – Barron’s
Ending the debt limit crisis: Dear Ben Bernanke – Reuters
For Janet Yellen, quiet patience paid off – Washington Post
Washington Budget Chaos Keeps Fed Rates Low for Longer – Bloomberg
Budget stalemate could end talk of Fed tapering stimulus – LA Times
Five things you didn’t know about Janet Yellen – Fortune
National park gate-jumpers enter gray legal areas – Yahoo!
Shutting Down but Not Closing Up – Mises
Panic, Please – Propublica

MARKETS/INVESTING
Markets perk up on US debt ceiling hopes – AP
Something Wicked This Way Comes – Above the Market
China overtakes US as the biggest importer of oil – BBC
Shutdown detracts from much bigger global risks – CNBC
JPMorgan Clients in Cash as Schwab’s Options Hedge Default – Bloomberg
IMF says start of Fed tapering threatens $2.3 trillion bond losses – FT
Treasuries Drop for Third Day on Signs of Short-Term Debt Talks – Bloomberg
Gold drops on stronger dollar, hopes of U.S. breakthrough – Reuters
China’s Hunger for Gold Triggers Speculation About Reserves – WSJ
The Daily Nugget – Yellen does nothing for gold – The Real Asset Co.
The bearish case for silver – Mining.com

ECONOMY/WORLD/HOUSING/BANKING
What the unemployment rate isn’t telling you – MarketWatch
IMF cuts outlook, warns of U.S. ‘fiscal accidents’ – LA Times
First signs of government mess impacting consumer spending – Sober Look
China signs second-biggest swap line with ECB – Reuters
Draghi’s Next Move Seen Easing Liquidity as Rates on Hold – Bloomberg
Aggregation Aggravation: Germans Wary of New Huffington Post – Spiegel
Bank of England keeps UK interest rates at 0.5% – BBC
First Glances at September New-Home Sales Spark Worries – WSJ
Yellen best choice to reflate the housing bubble – OC Housing News
Minutes show Fed still sees taper this year – MarketWatch
Round and Round They Go on Tapering – Bloomberg
The Big-Bank Subsidy – NY Times
Kind of a Clown Show – Fed Watch

 
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