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The Weekly Bottom Line

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The fourth quarter has gotten off to a slow start for the economy. Industrial production for October fell by 0.1% from September while housing starts fell by 10.6% over the same period. Given the strong growth in the industrial sector in the third quarter, the level of production in October… Read More...

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November 22nd, 2009 at 4:30 am

European Markets Drop On ECB Withdrawal

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European Trade: European shares moved lower in trade on Friday trade, following the Asian equity market that closed in the red. S&P futures moved side-ways throughout the overnight trading hours, but dropped eight points as the news that the ECB will withdraw their cash liquidity from the market over the… Read More...

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November 22nd, 2009 at 4:30 am

Weekly Focus: Squaring Positions

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At 0.69% the 2-year US bond yield is only 5bp from the low point during the crisis reached a year ago. 3-Month t-bill rates are again trading around 0%. Mainly two factors are behind this development. First of all, investors and banks are most likely reducing risk towards year-end putting… Read More...

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November 22nd, 2009 at 4:30 am

Trichet Tempers European Rate Rally

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Apart from giving the euro a slap in the face Jean Claude Trichet’s remarks about wrapping up the cheap loans awarded to the European banking system a year ago tempered the recent rally in European interest rate futures this morning. One has to be careful where to go with the… Read More...

Bernanke Sees Headwinds for US Recovery

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EUR-USD was over 1.49 for most of the week, despite the fact that the majority of US indicators turned out weaker than expected, which, according to the pattern of the last few weeks, should in fact have had a dampening impact. In addition, Fed president Ben Bernanke revealed that he… Read More...

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November 22nd, 2009 at 4:30 am