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The Eurozone Rift: It Would Be Wrong 'To Give In To Panic'
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 - Mar 07, 2013

Euros entered circulation on January 1, 2002, and for six years, they were practically growing on trees in southern Europe. But the bubble got pricked. Since then, the monetary union has been in ...

 
World Recession Update
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 - Mar 07, 2013

We have quarterly GDP data for 11 more OECD countries since our last post “World plunges into recession in Q42012“, and there have been some 2nd estimate revisions (such as the U.S). The chart below ...

 
Lending Securities: Which Mutual Funds Do It Best
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 - Mar 07, 2013

The boards of directors of mutual funds serve a valuable role when they have securities-lending operations. They are monitors; the filings that registered investment firms submit to the Securities and...

 
ADP: Payrolls Increased 198,000 In February
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 - Mar 07, 2013

Private-sector payrolls expanded by 198,000 in February, according to yesterday’s ADP Employment Report. That's down a bit from January's 215,000 advance. Nonetheless, February's increase is strong ...

 
ECRI Remains Bearish on Economy
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 - Mar 07, 2013

The Economic Cycle Research Institute (ECRI) has been bearish on the US economy since making its recession call in late 2011. This week, ECRI published a presentation reaffirming its bearish outlook. ...

 
An ECB Rate Cut May Be Justified, But Not Beneficial
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 - Mar 07, 2013

Questions about the upcoming European Central Bank meeting and Italy's political turmoil kept the euro trading at $1.3051 on Wednesday morning.Thursday's ECB meeting will be closely watched for clues ...

 
February Employment Report Preview
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 - Mar 07, 2013

This month's report is especially important. I am cautious for several reasons: The market rally is generally perceived as extended – many are looking for a reason to sell;The story is complex, with ...

 
Watch That Tweet, It May Be A Scam
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 - Mar 06, 2013

I recently received a message from friends in the market apprising me of the newest “trick” being used by those who like to move/manipulate markets. What are the wizards up to?Let’s get the inside ...

 
Anticipating Friday's Employment Report
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 - Mar 06, 2013

The most important economic news this week is Friday's employment report from the Bureau of Labor Statistics. This monthly report contains a wealth of data for economists, probably the most ...

 
Monetary Policy: Still Bullish
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 - Mar 06, 2013

For months we have stated that monetary policy around the world is a powerful engine for raising asset prices. We continue to argue that classic and typical valuation methods have to be set aside in ...

 
Stocks And Inflation: The End Of An (Abnormal) Affair?
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 - Mar 06, 2013

The Dow Jones Industrial Average reached an all-time high yesterday, and the S&P 500 is within shouting distance of a new peak too. But a soaring equity market is no reason to assume that the new ...

 
Canada Watch Daily
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 - Mar 06, 2013

Canada WatchGlobal equity markets have been buoyed by pro-growth announcements in the past 24 hours. In China, the outgoing premier called for a GDP growth target of 7.5% in 2013. In order to meet the...

 
BoC Waters Down Tightening Bias
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 - Mar 06, 2013

The Bank of Canada left the overnight rate unchanged at 1.00% as expected. But the tone of the statement was quite dovish as the BoC acknowledged "material excess capacity in the economy". The Bank ...

 
European Market Update: Risk Sentiment Poised Ahead Of Key CBE Decisions
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 - Mar 06, 2013

Risk sentiment maintains its poise ahead of Key central bank decisions over the next 24 hoursNotes/ObservationsVenezuela: President Chavez dies; VP Maduro assumes temporary control; Army chief pledges...

 
Asian Market Update: March 6, 2013
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 - Mar 06, 2013

Strong Australia GDP and proactive NDRC sends AUD/USD to $1.03Economic Data(AU) AUSTRALIA Q4 GDP Q/Q: 0.6% V 0.6%E; PRIOR; Y/Y: 3.1% V 2.9%E(NZ) NEW ZEALAND Q4 VALUE OF ALL BUILDINGS Q/Q: 1.8% V ...

 
Dow Jones High: This Time It’s Different - 2013 Edition
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 - Mar 06, 2013

A small note on the frankly hilarious news that the Dow Jones Industrial Average smashed through to all-time-highs. First of all, while stock prices are soaring household income and household ...

 
GDP For 2012Q:4 - Canada Underperforms The United States
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 - Mar 06, 2013

In 2012 Q4, Canada’s GDP expanded a mere 0.6% annualized, after growing an upwardly revised 0.7% the prior quarter. For all of 2012, GDP growth was just 1.8%, its worst showing since the 2009 ...