Jan 6, 2010

Daily Markets - Financial News & Opinions

Daily Markets - Financial News & Opinions

Forex Markets Choppy As Sovereign Debt Concerns Counter Optimism For US Data

Posted: 06 Jan 2010 03:05 AM PST

Coming a day after yesterday’s UK debt worries, European markets were given a fresh reminder of the fragile state of Greece’s predicament as Reuters reported comments from ECB’s Stark that the rest of the EU would not save Greece from its fiscal difficulties. These remarks have quickly been followed up by counter comments from Greece’s Finance Minister Papaconstantinou; who strenuously denied that Greece needed a bailout, and added that Stark did not need to make the bailout comments at all. … [visit site to read more]


CBOE Executive Vice Chairman Edward Tilly Discusses The Issue Of Flash Trading

Posted: 06 Jan 2010 03:01 AM PST

In 2009, Chicago Board Options Exchange, CBOE (CBOE) stepped up its already vigorous regulatory initiatives by working proactively with regulators and legislators to help shape regulatory reform. In this installment, CBOE Executive Vice Chairman Edward Tilly discusses CBOE’s perspective on flash trading.

Flash Trading Background:

CBOE’s flash process was designed to get the best price available in the market for marketable orders. CBOE flashes marketable options orders when … [visit site to read more]

Stock News Briefs: Kraft Raises Cash Bid For Cadbury; Google Phone Sales Begin; Whitney Slashes Goldman Sachs Forecast

Posted: 06 Jan 2010 02:13 AM PST

Kraft Raises Cash Bid for Cadbury; Google Phone Sales Begin; Automakers See Strong U.S. Sales Gains; Whitney Slashes Goldman Forecast; Gulf Infrastructure Gets a Boost; Construction Collapse; IT Obstacle

Kraft Foods Inc. (KFT) has agreed to sell its DiGiorno and Tombstone pizza brands to Nestle SA for $3.7 billion, using all the net proceeds from the sale to boost the cash portion of its offer for Cadbury PLC (CBY). In related news, Warren Buffet’s Berkshire Hathaway Inc. (BRK-A) … [visit site to read more]

NY Fed Treasury Spread Model: Recession Is Over And There’s NO Chance Of A Double-Dip Recession

Posted: 06 Jan 2010 02:01 AM PST

Tuesday the New York Federal Reserve released its updated “Probability of U.S. Recession Predicted by Treasury Spread” with data through December 2009, and the Fed’s recession probability forecast through December 2010 (see top chart above). The NY Fed’s model uses the spread between 10-year and 3-month Treasury rates (3.54% spread in December) to calculate the probability of a recession in the U.S. twelve months ahead.

The Fed’s model (data here) shows that the recession … [visit site to read more]

Forex Trading Review For 6 January

Posted: 06 Jan 2010 01:34 AM PST

USD Dollar (USD)

The Dollar strengthened versus most majors after Pending Home Sales fell more than forecast in November, dropping by 16% after a revised 3.7% in October. Factory orders in US rose in November to 1.1%, more than twice as much as anticipated, but this did not help stop the Dollar’s decrease. NASDAQ remained almost at -0.07% unchanged and Dow Jones declined by 0.11%. Crude oil continue to increase for the ninth day in a row, rising by 0.3% and closing at 81.77$ a barrel. Gold … [visit site to read more]

Forex Trading: Eur/Usd Lower On Negative Industrial New Orders

Posted: 05 Jan 2010 08:15 PM PST

It wasn't an immediate reaction but the Eur/Usd has now reacted to the negative new industrial order figures from 20 minutes earlier. The pair currently trades at 1.4357, off about 20 … [visit site to read more]

A Winning Investment Concept: De-Emphasize Transparency

Posted: 06 Jan 2010 01:08 AM PST

It is quite natural to value transparency.  Understanding our world makes us more comfortable and confident.

Continuing my discussion of good ideas for 2010 that did not quite fit into my overview article, I want to introduce an idea that does not get much attention.

We all over-emphasize what is specific and known.  This focus on the tangible effects of the past hampers our ability to identify good future opportunities.

I have a number of examples in mind, but a recent article … [visit site to read more]

Video: IRS To Regulate U.S. Tax Preparers

Posted: 06 Jan 2010 06:00 AM PST

The Internal Revenue Service plans to regulate tax preparers across the U.S. The agency announced new requirements, including registration and competency exams. … [visit site to read more]

Forex Trading: Eurozone Industrial New Orders & PPI

Posted: 06 Jan 2010 12:59 AM PST

Eurozone New Industrial Orders m/m came in at -2.2%, weaker than the -1.0% expected. Y/Y came in at -14.5%, weaker than the -11.0% expected.
PPI m/m came in at 0.1%, weaker than the 0.2% expected and inline with last reading of 0.2%. Y/Y came in at -4.4%, slightly stronger than the -4.5% expected and stronger than prior reading of -6.7%.
Eur/Usd is trading just off its high at 1.4377. Thus far no major market reaction to … [visit site to read more]

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