As far as I'm concerned, Peggy Noonan is one of the finest writers in America.
I make my son read her editorials in the Wall Street Journal (he hates it) ... (I don't care).
Here's her analysis of what went wrong with the mortgage market.
Click anywhere below to get the entire piece.
I think that just about covers it.
The Canadian Dollar has again achieved achieved parity with the US Dollar.
Closing at $1 Tuesday 4/6/2010.
Four different services hit my mailbox last night with the same headline.
Ten Year Treasury Hits 4%
Putting aside the notion that a 4% yield over the next 10 years lent to anybody (let alone the Federal Government of the United States of America) even approaches a reasonable compensation for risk.
The much referenced "Head and Shoulder" Top is in.
My preference would be for it to go back up and close that gap between about 118.3 and 117.5 and then finish.
As a matter of fact, I believe it will, only because I have come to the conclusion that the notion of randomness in the world is a deception.
I have come to believe that the world is just about as anal and rhythmic as I am (which is pretty damn).
I also believe that the Fed will use every lever to hold rates down.
I'm just not sure it's gonna work.
Savers may not be gasping for income that much longer.
Oh yeah, and P.S.
Did you make that refi application yet?
Here's Richard Russell, publisher of the Dow Theory Letters, with yet another take on the Bond Market.
He offers this chart on the 30-Year Treasury Bond with the following comments,
"I've been keeping an eagle eye on the daily chart of the 30-year Treasury bond. As of yesterday, the "long bond" had sunk exactly to its support at around 114. If support breaks, interest rates will be heading dangerously higher. The chart shows a double top (first two red arrows). Then a break to the downside and a formation showing a triple top (second set of three red arrows). As of yesterday's close, the 30-year T-bond was sitting exactly on critical support. If bonds are down today, it won't be pretty.
Might be just about time to get that 30 year fixed refi, if you're able.
Below is a "Head and Shoulders" pattern nearing completion on the Weekly T-Bond chart.
I referenced this pattern and posted one of my charts a week or so ago titled,
"A Heads Up from R.E. MacMaster"
The chart below links to his site, unfortunately, he's stingy with the free stuff, and it ain't cheap.
James Turk founder of GoldMoney.com has created the following spreadsheet.
Mr. Turk also writes and publishes the Freemarket Gold and Money Report.
Click anywhere within the spreadsheet to link to the original article.
The above quote was taken from Zygmund Dobbs' book, "Keynes at Harvard"
The economic theory's of John Maynard Keynes are those that are being practiced by all of the governments presently in power throughout the entire western world and much of the east including Japan.
It came to my attention in an email blast that evidently I must subscribe to from Brian Hicks at Energy and Capital ominously titled'
Which by the way, I believe.
If I've said it once, I've said it a thousand times,
"The fact of my paranoia is in no way evidence that they're not out to get me."