Market Overview

The Bureau of Economic Analysis released new data today showing that corporate profits reached an all-time nominal high in the second quarter of 2013. Profits before tax rose to 12.53 percent of GDP...

Note from dshort: I've updated this commentary, originally posted in July, to include the latest Flow of Funds data on federal loans to students, which now constitute 42% of of the assets on Uncle...

Note from dshort: I've updated the quiz based on yesterday's Q2 Flow of Funds release. Hint: The correct answer is the same as it was for the last quiz, just more incredible.Pop Quiz! Without recourse...

The secret of my success, in my opinion, has been my ability to accurately describe parts of the market and economy exactly the way they are and exactly the way they are not. I say power to make...

I'm not a Rand Paul fan, but he made a comment yesterday that makes complete sense: (to paraphrase) If Obama likes Obamacare so much, why doesn't he voluntarily enroll in it? To that I'll add:...

1) Brazil's central bank is not tapering its FX intervention plan 2) The Philippine central bank outlined the tools it will use to counter Fed tapering 3) The RBI is taking further steps to...

In an unprecedented move for an Iranian leader, President Hassan Rouhani has used his visit to address the 68th session of the United Nations General Assembly to condemn Nazi war crimes at a breakfast...

Midway through trading Thursday, the Dow traded up 0.21 percent to 15,305.89 while the NASDAQ surged 0.51 percent to 3,780.29. The S&P also rose, gaining 0.16 percent to 1,695.40. Top Headline...

There are four developments in China to note:First, in what seems a bit like "buy the rumor sell the fact" type of activity, the Shanghai Composite slipped 1.9% today to a three week low.Reports...

Over the last few weeks, as the overwhelming majority of economists, reporters, and Wall Street insiders expressed certainty that the Fed would begin to taper its QE program, I did my level best to...

Thursday's Market DriversUK CA cap sends cable tumblingUSD/JPY soars in Asia on talk of pension fund reform but gives up most gainsNikkei 1.49% Europe 0.22%Oil $103/bblGold $1337/oz.Europe And AsiaGBP...

Euro area M3 growth stood at 2.3% y/y in August, up from 2.3% in July, in line with market expectations. At the same time, M1 growth declined to 6.8% y/y, from 7.1%. The high M1 is driven primarily by...

Markets turn their glare to Washington where partisan squabbles threaten to undermine the US economy once again. Congress has until Monday to pass a budget or a government shutdown will begin. At...

Don’t worry, peripheral euro-zone yields aren’t creeping up enough to get bond junkies excited and the troika nervous. In fact, we saw Greek Deputy Prime Minister Venizelos today report...