Bernanke says Fed’s balance sheet isn’t the biggest February 26, 2013 In replying to Senator Shelby about the size of the Fed's balance sheet, Fed chairman Ben Bernanke said "there are other central banks whose balance sheets have been this large, such as Japan." Perhaps he's not choosing a great example there. Bernanke suggested that the Fed has thought through how to unwind QE without damaging long-term [...]
Italian parties rule out alliances February 26, 2013 Italy looks to stay in gridlock for a while longer as various groups have now confirmed that they are not looking for alliances. Beppe Grillo, the anti-politics third candidate has Tweeted (still preferring to avoid the mainstream media) that he is not interested in coalitions. Pier Bersani, leader of the centre-left coalition has now confirmed [...]
Lord Rennard statement following sexual harassment allegations February 26, 2013 This follows news that Scotland Yard will investigate the sexual harassment allegations made against Lord Rennard. This statement has been released via a spokesman: Lord Rennard refutes these allegations. He will co-operate with any properly constituted inquiry. He has been notified of an internal investigatory panel within the Party. The matter must now be regarded [...]
Bernanke to push ahead with asset purchases February 26, 2013 In his prepared statement for testimony to the Senate, Bernanke has dropped great big hints that QE is to continue, saying that: In the current economic environment, the benefits of asset purchases, and of policy accommodation more generally, are clear
US economy surges with consumer confidence and house sales up February 26, 2013 Consumer confidence is up to 69.6 in February from 58.4 in January, with expectations of only 61.0. That's the highest since November. Meanwhile house price sales have soared to 437,000 from 378,000 on a month on month basis (381,000 expected).
Bernanke addresses Senate Banking Committee February 26, 2013 Bernanke is now about to give testimony to the Senate Banking Committee, you can watch live on C-SPAN3. Markets will be listening for hawkish or dovish tones, the assumption being that QE infinitum is likely to continue. Line I am watching on the VIX = 17.18 (same thing, breakout/breakdown line) — Keith McCullough(@KeithMcCullough) February 26, [...]
US house prices continue to rise February 26, 2013 The Federal Housing Finance Agency has announced that in November house prices increased by 0.6 per cent (release). This was in line with expectations and matches the rise of the previous month. US house prices now stand up 7.33 per cent on a year on year basis. (Source: Federal Housing Finance Agency) US house prices rose [...]
JPMorgan may axe 19,000 jobs by 2015 February 26, 2013 Following reports earlier than JPMorgan plans to cut 4,000 jobs by the end of the year, Bloomberg now reports that more job losses may be planned: FLASH: JPMorgan says mortgage unit, community bank may lose 19,000 jobs by end of next year — Bloomberg News (@BloombergNews) February 26, 2013 That number would represent over 7% [...]
Gold prices edge up as crisis fears heighten February 26, 2013 ZeroHedge has these numbers for a quick gold comparison: Today’s AM fix was USD 1,597.25, EUR 1,219.65 and GBP 1,052.07 per ounce.Yesterday’s AM fix was USD 1,592.50, EUR 1,201.89 and GBP 1,051.85 per ounce. (ZeroHedge) Gold is typically a commodity that you get into when you expect volatility. Italy's electoral deadlock has renewed fears about [...]
Hungary enough to eat a horse February 26, 2013 A watchdog has now found horse masquerading as beef in Hungary, as near daily revelations start to give a picture of the scale of this continent-wide mislabelling scandal. Data from Kantar today showed that sales of frozen burgers in the UK are down 43 per cent in the four weeks to February 17, and frozen [...]