Money McBags
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3/25/10 Midafternoon Report: Bailouts, stimulus, and earnings. Oh My!
The rally is on again as Germany says they will back Greece, earnings are crushing estimates, and Bernanke is going to continue to stimulate the economy like he’s the delightful young actress Jessica Pare (moderately safe for work) and the economy is Money McBags. Bernanke spoke to the House Financial Services Committee today and he…
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3/24/10 Midday Report: Port-Ugh-al
The market is down a bit today on news that some country in Europe named Portugal has had their debt rating lowered by a whole minus sign (yikes, imagine if it had been a minus sign and a frowny face) and slightly negative US macro news. New home sales came out today and boy were…
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3/23/10 Midday Report: Health care bill passes causing market to turn its head and cough
Money McBags was unable to provide market insight yesterday because he was waiting in line at his doctor’s office to receive his now monthly health care rations (sorry, couldn’t resist). Since like 99.9% of Americans Money McBags hasn’t read the health care bill (though he eagerly awaits the movie, especially if Alice Eve stars as…
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3/19/10 Midafternoon Report: When Greenspan talks, people shouldn’t listen
Money McBags is busy today so just a few quick shout outs as the market goes through a bit of a sell off due to concerns over increased taxes in the health care bill, Germany backing out of bailing out Greece, and the officiating in the Robert Morris-Villanova basketball game yesterday which was so bad…
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3/18/10 Midday Report: Market pauses to watch NCAA tournament, hopes boss isn’t looking
There was a flurry of economic data released today but unfortunately it was less decisive than a sugar addict with a severe case of ADD in a candy store with only $.50 to spend. Consumer prices remain unchanged, rising only .1% sequentially excluding food and fuel (or as they’re better known as, essentials). Consumer prices…
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3/17/10 Midday Report: With PPI down, optometrists now try to tackle conjunctivitis
The market is moving up again today as to the surprise of none, the Fed held rates near zero yesterday while restating their intention of keeping them low for an “extended period” (known as their menorrhagia strategy). The Fed did say they will stop buying MBS now that they have successfully kept home prices inflated,…
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3/16/10 Midday Report: The Fed is coming! The Fed is coming!
The market is largely in neutral today as investors await the Fed’s decision on interest rates this afternoon. With the lilkelihood of the Fed keeping rates at their current low levels somewhere between the likelihood of Michael Lewis droning on about his bond trading days in his new book or the likelihood of getting herpes…
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3/15/10 Midday Report: March Madness is officially here as Moody’s thinks people actually care about what they say
The market is flattish today, likely taking a breather to fill out its NCAA bracket while trying to sleep off the headache caused by Dick Vitale’s pontifications yesterday on how loving Mike Krzyzewski is post-coitus. That said, Moody’s is out warning that major economies such as the US, Germany, the UK, and Vivid Video may…
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3/12/10 Midday Report: Macro data sending more mixed signals than a drunk married co-worker at a holiday party
The market was down in the morning with conflicting economic data having been released. Retail sales increased in February by .3% which easily beat estimates of a .2% decline (though the difference is so insignificant it could be contributed to a rounding error or some d-bag buying that one extra pair of Joes Jeans). Excluding…
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3/11/10 Midday Report: Yield curve spread continues to fatten, claims it wants to star in Precious sequel
The market is holding steady today as foreclosures in the US rose at their slowest pace in four years. While slowing rates of foreclosures are sort of pyrrhic news similar to declining new cases of AIDS or slumping sales of country music cds, a slower rate means a slower rising homeless population and that can’t…