The Closer

ROUND UP

Markets hummed along today ahead of the Fed’s Jackson Hole symposium later this week, as investors hoped for news on further monetary stimulus. The S&P 500 closed down 0.05 per cent. Read more

The Weekender

This week on FT Alphaville,

- China’s economy is seeing uneven growth — and in all the wrong placesRead more

The Closer

ROUND UP

Stocks closed down today as investors debated whether more central bank stimulus was in the works. The S&P 500 closed down 0.81 per cent. Yields on “haven” bonds fell, with 10-year Treasuries falling to 1.67 per cent and 10-year Bunds closing at 1.38 per cent. Read more

The CBO and the fiscal cliff — revised

Today’s report by the CBO takes an updated look at the outlooks for the US fiscal position and economic growth through 2022. And surprise, surprise: the fiscal “cliff” Americans are heading towards at the end of 2012 would be bad news if unaverted — certainly in the near term.

In particular, GDP and unemployment figures would be hit substantially under current law (the “baseline projection,” i.e. the fiscal cliff is not averted): Read more

The Closer

ROUND UP

Markets crawled to a close on Monday on light trading, as Eurozone news confused investors. The S&P 500 closed down 0.03 per cent. Meanwhile, yields on Spanish yields fell to their lowest levels since early June, with 10 year notes dropping to 6.28 per cent (Financial Times). Read more

The Closer

ROUND UP

Markets round up: Euro stocks rallied today as fears about the Eurozone and US economies quelled. The FTSE 100 closed up 0.03 per cent. The S&P 500 closed up 0.71 per cent. In further news, US Treasuries rose to their highest levels since May, with 10-year notes closing at 1.84 per cent. Read more

The Closer

ROUND UP

Markets lost steam today as weak Japanese export and growth data highlighted a lack of global demand. The S&P 500 closed down 0.13 per cent. Read more

The Weekender

This week on FT Alphaville,

- The week began with more bad news from Knight CapitalRead more

The Closer

ROUND UP

Markets crawled forward, after lower Chinese inflation promised hopes of further monetary stimulusFinancial Times). The S&P 500 closed up 0.04 per cent, having gained 0.6 per cent in the last three days (Reuters). However, yields on Italian and Spanish two-year bonds continued to rise, amid doubts over action by the ECB (Bloomberg). Read more

Cash is king for US multinationals

A recent note by the National Bureau of Economic Research takes an interesting look at companies’ tendency to increase their cash holdings (click image to download the full report):

 Read more

The Closer

ROUND UP

Markets continued to rally on Monday, as Friday’s relatively upbeat jobs report continued to lift spirits. Yields on Italian and Spanish bonds fell, and the FTSE 100 closed up 0.37 per cent; the S&P 500 closed up 0.23 per cent (Financial Times). Read more

The Weekender

This week on FT Alphaville,

- We covered Mario Draghi’s eagerly awaited ECB press conference. It didn’t go so well, amid market confusion – or did it? It was the debate of the week. Read more

The Closer

ROUND UP

Markets were spooked by fresh Eurozone fears today, as the ECB failed to commit to any large-scale sovereign bond purchases. The S&P 500 fell 0.74 per cent. (Bloomberg). Read more

The Closer

ROUND UP

US stocks ended their recent rally despite hopes that policymakers on both sides of the Atlantic would undertake further measures to buoy the US and Eurozone economies. The S&P 500 closed down 0.05 per cent (Financial Times). Meanwhile, the US bond market quelled fears that the country could be heading into a period of deflation (Bloomberg). Read more

The Closer

ROUND UP

Investors remained wary as stocks vacillated between positive Euro bank news and missed earnings from Apple. The S&P 500 finished the day down 0.03%. However, the Euro made up some of its losses, finishing up 0.5 per cent to $1.2127 (Financial Times). Read more

Apple Q3 Earnings

Big disappointment with today’s earnings report from Apple….

 Read more

The Closer

ROUND UP

Spanish funding fears depressed US stocks. Spain’s two-year bond yields rose by the most in one day since the beginning of the eurozone crisis (Financial Times). The Dow Jones Industrial Average recovered from a 239 point plunge at markets’ open, but still closed down 101 points at 12721.46 (Wall Street Journal). Read more

The Weekender

This week on FT Alphaville,

- More on Spain’s bail-in and the ECB’s U-turn, courtesy of Joseph… Read more

The Closer

ROUND UP

Stocks continued to rally today, with the S&P 500 rising 0.27 per cent on the back of several upbeat corporate earnings reports (Financial Times). Read more

Retail lending, mitigate thyself

European retail lending as a dying bank business model walking — charts via McKinsey, in this new report by the consultants:

 Read more

The Closer

ROUND UP

US stocks stumbled in low-volume trading. The S&P 500 fell 0.23 per cent after the third month in a row of weak retail sales data (Reuters). Read more

Spain’s banks are IM-F’d

Click through the chart confirming what we all knew for the latest IMF Global Financial Stability Report, released this morning…

 Read more

The Weekender

This week on FT Alphaville,

- The ECB’s zero deposit rate still loomed over markets from the week before. Scary. Read more

Student Loan In-securities

As the topic of student loans has been gaining momentum this election year, it might be worth taking a moment to examine some not-so-rosy points about the whole business.

First some background. In the world of US student loans, Uncle Sam reigns supreme. A recent research note by Credit Suisse noted that since the abolition of the Federal Family Education Loan Program (FFELP) in 2010, the government has become owner of an estimated 88% of total outstanding student debt. Read more

The Closer

ROUND-UP

Marking a fourth consecutive day of decline, the S&P 500 fell 0.81 per cent. It’s the longest losing streak that the index has experienced since May. Meanwhile, European equities essentially stayed flat, with the FTSE 100 registering a modest 0.65 per cent gain on news of a Spanish bailout blueprint (Bloomberg). Read more

The Closer

ROUND-UP

Another down day for US stocks. Global growth and the eurozone were blamed as the S&P 500 fell 0.16 per cent to 1,352.46 (Reuters). Read more