Neil Howe's picture

According to national headlines, commercial real estate (CRE) is thriving—with observers pointing to high prices and increased foreign investment as signs of recovery. A closer look at the industry, however, reveals a more complicated...

Chris Puplava's picture

Selling pressure is drying up but for a bottom formation we need credit markets to begin to improve. The market is either testing or hitting new lows while the % of stocks hitting 4-week, 12-week, and 52-week lows is drying up, similar to the August/September bottom…

Michael Shedlock's picture

Money continues to pour out of Italian and Spanish banks for safer havens. This month I note a curious side effect: A huge amount of money went into French banks instead of German banks. The following table shows the winners and losers.

Axel G Merk's picture

"The Fed doesn't have a clue!" - I allege that not only because the Fed appears to admit as much (more on that in a bit), but also because my own analysis leads to no other conclusion. With Fed communication in what we believe is...

Ben Hunt PhD's picture

The susceptibility of credit spreads to systemic risk(s) that I was describing last month was borne out last week. Protection on the ITRAXX senior European financial debt index widened by over 45 bps from 92 bps at the close of January to 137 bps at the close on February 8...

Chris Puplava's picture

With credit default swaps spiking in recent weeks among a wide number of major financial institutions—most notably Germany's largest bank, Deutsche Bank—it's time to take a look at the overall credit markets for signs of contagion/crisis. Here are some of the things we are monitoring...

Charles Hugh Smith's picture

What the central banks cannot do is create productive places to invest the credit they've generated in such excess, or force qualified borrowers to swallow more unproductive debt. One way to lose a war is to focus on preparing to fight the last war.

Axel G Merk's picture

"Stocks beat gold in the long run!" is a 'rallying cry' to buy stocks we have heard lately that gets me riled up. It’s upsetting to me for two reasons: first, an out of context comparison, in my opinion, misguides investors. It might be...

Sheraz Mian's picture

Fresh weakness in oil is dragging stocks lower today. We don’t have much on the economic data front, but the earnings calendar is very busy today, with 32 S&P 500 index members reporting results, of which 18 reported this morning and the...

Matthew Kerkhoff's picture

Question – What do you do when you really need someone to spend money? Answer – You tell them they’ll lose it if they don’t. Spending is the lifeblood of an economy. At a social level many people frown on consumerism and materialism...

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