My sources in China have notified me that a reputable Chinese business paper, the 21st Century Business Herald, has begun reporting on a market rumor that indicates the Chinese Central Bank may be planning a 27bp rate hike this Friday. I personally know very little about the paper, and believe this news is highly speculative. […]
Archive:
January 2010
This is a quick side posting. I am flying Virgin America today NY to LA, and began giving their free, at least for today, WiFi service a try. I must say my first impressions are quite good. I am connecting at speeds that would rival my at home cable connection–1353.2 kbps according to CNET’s bandwidth […]
This week will primarily focus on earnings, with housing data acting as an intriguing side story. Companies expected to report earnings this week include: AMR Inc. (AMR), Bank of America (BAC), Citigroup (C), CSX (CSX), EBay (EBAY), GE (GE), Goldman-Sachs (GS), Google (GOOG) IBM (IBM), Morgan Stanley (MS), and Wells Fargo (WFC). The housing side […]
There is no doubt that Tuesday’s special election in MA could have important consequences for healthcare reform. If Republican candidate Scott Brown takes the election from Martha Coakley, then Democrats lose their filibuster-proof, 60-seat majority in the U.S. Senate, potentially complicating the passage of healthcare reform. Scott Brown has indicated he is not in favor […]
December’s Industrial Production rose +0.6%, inline with a Bloomberg consensus forecast of +0.6%. November’s release was revised to +0.8% to +0.6%. December’s reading was almost entirely due to a 5.9% jump in utilities stemming from extremely cold weather around the country. The index’s manufacturing component actually fell -0.1% during the month, while mining output rose […]
Recently, I wrote about how Dell, among some other companies, should benefit from an approaching IT replacement cycle, that I believe is being underestimated by many wall street analysts. Well I came across this article today, which has the White House budget director blaming old computers for our government’s inefficiencies and ineffectiveness. It would appear […]
December’s Retail sales unexpectedly fell -0.3%, after a revised +1.8% increment in November (previously +1.3%). The latest Bloomberg consensus forecast was for a rise of +0.5% with forecasts ranging from 0.0% to +1.2%. The decline was broad based and included an unexpected -0.8% change in motor vehicle sales. This data includes online sales. Ex-autos retail […]
During a discussion over whether or not the country’s property sector was in the midst of a bubble, Qi Ji, vice-minister of Housing and Urban-Rural Development, said, “In some big cities and coastal cities… property prices are too high.” Additionally, at the same meeting an official from the People’s Bank of China was noted saying […]
I must apologize; due to technical trouble FiatEconomics.com was down for over 24 hours. The good news is it appears the situation is resolved. I am sorry for any inconvenience. -Michael McDonough
According to Market News International, Peng Junming, an official within China Investment Corp and former employee of the State Administration of Foreign Exchange (SAFE)has said, “China has bigger asset bubbles than the U.S. The U.S. will definitely raise interest rates in the second half and China could hike rates even earlier than that.” I began […]