Diary of a Financier

Top Newsstuffs (April 23-29)

In Bookshelf on Sun 29 Apr 2012 at 14:45

Strange week in that risk markets reversed out of bearish setups to maintain a bull trend. Back on track of the 2011 analogue.

~~~~

1q2012 Letter to Shareholders | Hugh Hendry (Eclectica)
Bearish China still, but seeing US progress. Expects one last washout: 30-year Treasury yield to 2.50% (currently 3.12) and VIX to 80 (from 16.32) will provide generational buying opportunity.

Why The Euro Is So Strong: The Market Expects $700bn Of Fed QE3 (EURUSD) | ZeroHedge

Interview: Oscar Munoz, COO of CSX Railroads | Pragmatic Capitalism
Discuss coal (exports still strong), natural gas (2h12 rebound), Europe/China, commodities (automotive demand still robust). Expect 90% of business flat/growing in 2h12.

Caterpillar -4.5% after earnings today, cite Chinese weakness | Clusterstock
CAT sees too much finished-good inventory in China; they’re exporting 20% of their mid-sized excavators. Expect construction contraction y/y despite government efforts (too late for 2012), but consumption trends are strong.

TARP Disbursements | The Big Picture
Bailout budget disbursements, repayments, write-offs & profits.

European TARGET2 Update: How Much Bigger Can Imbalances Grow? (A Lot) | Goldman Sachs

Social Security Trustees Report | Bruce Krasting
$20.5T NPV underfunded liabilities. Retirement benefits program (serves 44 million people) empty by 2035. Disability program (aids 11 million) will run dry in 2016.

Infographic: Everything You Need to Know about Investing in Gold | Blue Glass Interactive

Bribe Inquiry Silenced at Wal Mart Mexico | New York Times
Management allegedly bribed foreign government officials, covered-up by WMT executives in Arkansas.

–Romeo

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