The Mess That Greenspan Made - Part 11

The latest issue of the Iacono Research Weekend Update has been posted to the website and is now available for subscribers here. The executive summary is as follows:

Amid good (but not quite as good as expected) economic data for both the U.S. labor market and manufacturing sector, asset prices were little changed with the notable exception of some U.S. technology stocks that saw a second straight week of heavy selling. Emerging market shares rose and are now besting their U.S. counterparts so far this year and REITs continued to outperform most other asset classes while fixed income investments saw modest gains.

The trade-weighted dollar fell and this helped the natural resource sector where both gold and silver rose for only the second time in the last six weeks and mining stocked rebounded from what was clearly a bad month in March. For the week, the model portfolio rose 0.5 percent and is now up 4.5 percent for the year.

Want more Iacono Research? Subscribe now, risk-free for 45 days.

Tagged with:  

The local news has been full of stories about the bison-run on one of the paved roads in Yellowstone National park that preceded a 4.7 magnitude earthquake by a couple weeks.

Here’s the CNN story that includes the video of lumbering bison and, having driven in the park many times with bison on the road, my initial reaction is that I just wish they’d move this fast when we’re behind them because, while looking at the rear end of bison four-across is kind of interesting at first, it is much less so after 15 or 20 minutes.

Apparently some survivalist type thought the end of the world was finally nigh as the volcano that left a caldera 50 miles wide by 30 miles wide (yes, it’s a little bit larger than most volcanoes) was again threatening the  planet.

According to this Reuters report (and the interview subjects in the video above), scientists don’t put much credence in the re-awaking theory but, rather, think the animals were just feeling “frisky” on a warm spring day.

The Labor Department reported that nonfarm payrolls increased by 192,000 in March and data from prior months was revised upward by a combined total of 37,000.

The jobless rate held steady at 6.7 percent, little changed over the last four months, as more workers entered the labor force last month and were able to find jobs.

January payroll gains were revised up from 129,000 to 144,000 while the February total jumped from 175,000 to 197,00 and, if not for the latter, the March gain would have been the best month for job creation since last November.

The number of unemployed persons was little changed at 10.5 million, however, the civilian labor force rose a sharp 503,000 last month, pushing the participation rate up from 63.0 percent to 63.2 percent, the highest level since last summer.

(more…)

Tagged with:  

Friday Morning Links

MUST READS
Investors Clamor for Risky Debt Offerings – WSJ
ECB QE unlikely ‘any time soon’: Economists – xinhuanet
Russia nearly doubles Ukraine gas price in a week – euronews
Hagel Says U.S. Mulls Adding Brigade to Counter Russia – Bloomberg
McDonald’s ‘temporarily closes’ Crimea restaurants – BBC
‘Bond King’ Gross writes an ode to his dead cat, Bob – Reuters
Goldman Wins, Credit Suisse Loses in Lewis’s League Table – Bloomberg
Schwab: High-frequency trading “a cancer.” – USA Today
Weil on Finance: Katsuyama Beats O’Brien – Bloomberg
The need for speed is costing billions – NY Times
‘Game of Thrones’ economics: Austerity, tax and QE – CNBC
Monetary Policy Was Born Out of a Mistake – RCM

To find out what Tim thinks of today’s news, subscribe to Iacono Research

MARKETS/INVESTING
World stocks muted ahead of US jobs report – AP
Fears of rigged market hitting broker shares – USA Today
BATS Admits CEO Lied About HFT On CNBC – Zero Hedge
The Stock Market’s Shaky Foundation – Comstock Partners
Befuddled By John Bogle’s Advice – Servo Wealth Management
Treasuries Set for Weekly Loss as Meritz Sees Tightening – Bloomberg
Gold up ahead of U.S. data, still set for third losing week – Reuters
Natixis sees bearish Gold, Silver prices in 2014 – BullionStreet
GOFO Turned Negative AGAIN: The Consequences – In Gold We Trust
Investing: Gold mining funds are hot but risky – USA Today
CME Group Reducing Margins For Gold, Silver, Platinum – Kitco

ECONOMY/WORLD/HOUSING/BANKING
Economists expect jobs heated up in March thaw – USA Today
Better weather may have lifted job growth in March – AP
5 ways to get the long-term jobless back to work – MarketWatch
German industry orders rise, point to strong first quarter – Reuters
Pesek on Asia: China’s Housing Bubble – Bloomberg
British farmland prices rising faster than prime London property – Telegraph
U.S. Housing Market: Few Buyers, Not Enough Sellers – Daily Finance
After hard winter, U.S. housing industry sees signs of pickup – Reuters
Fed Gov. Jeremy Stein is resigning. Here are his greatest hits – Washington Post
Fisher Says QE Would End in October Based on Current Taper Pace – Businessweek
Leaving buyers club could be Fed’s next tricky task – Reuters

 
Page 11 of 843« First...910111213203040...Last »
© 2010-2011 The Mess That Greenspan Made