Now, About That Switch in Gold Offered Rates
Bullion Vault Article of the Week
Written by Adrian Ash, Bullion Vault
Dead for almost a decade, gold offered rates are suddenly headline news...
The markets in physical gold and silver
can look very odd places at first glance. The price drop this year has
been so aggressive, it's only making them odder.
Take the market for gold lending, for
instance. Few people understand the difference between leasing and
forward swaps. Nor should they care, not as a rule. Even if you really
haven't got anything better to worry about, the two forms of gold
lending look very similar net-net.
Dollar Steady as Stocks Close Down
Market Close 29 June 2013
Market closing summary is presented by our syndication partner Investing.com.
U.S. stocks closed down fractionally
pretty much across the board, as did European markets, while
Asia/Pacific markets were mixed. The dollar was steady, although down
narrowly againt the yen and the euro:
What We Read Today 29 July 2013
Econintersect: Click Read more >> below graphic to see today's list.
The top of today's reading list is a
guide to debt, deficits and austerity ........ and the last article
discusses how Australia is following the U.S. path to debt deflation.
Prometheus: Stock Market Investment Risk Rises to Another Notable Extreme
They are the four most dangerous words
in the vocabulary of an investor: 'This time is different.' This view
was embraced by mainstream thinking during the stock market bubbles of
2007, 2000 and 1929. It has also been embraced today, during the stock
market bubble of 2013. These four time periods also have the dubious
[...]
June 2013 Texas Manufacturing Survey Growth Slips Moderately
All Federal Reserve
districts which have released their July surveys - four are forecasting
growth and one is forecasting contraction. A complete summary follows.
China Debt
CNN talks to Zhiwei Zhang, chief economist with Nomura about China's debt audit.
June 2013 Pending Home Sales Index Declines
Written by Steven Hansen
The June 2013 pending home sales index was released by the National
Association of Realtors (NAR) today, and our analysis suggests:
- The current
trends (using 3 month rolling averages) continues to show a moderate
acceleration in pending home sales. This is due to a significant growth
jump 3 months ago - but the last two months growth has been
decelerating.
Read more >>
A Word from This Newsletter's Sponsor
The Death of the PC
The days of paying for costly software
upgrades are numbered. The PC will soon be obsolete. And BusinessWeek
reports 70% of Americans are already using the technology that will
replace it. Merrill Lynch calls it "a $160 billion tsunami." Computing
giants including IBM, Yahoo!, and Amazon are racing to be the first to
cash in on this PC-killing revolution.
Yet, a small group of little-known
companies have a huge head start. Get the full details on these
companies, and the technology that is destroying the PC, in a free video
from The Motley Fool.
Week Opens 29 July 2013 Mixed
Gary is off for the next two days - and
Econintersect is therefore providing the market open from our syndication partner
Investing.com:
European stocks were higher on
Monday, as the previous week's upbeat data from the euro zone continued
to support sentiment, while investors eyed upcoming policy statements
from the Federal Reserve, the European Central Bank and the Bank of
England.
During European morning trade, the
EURO STOXX 50 climbed 0.51%, France's CAC 40 rose 0.58%, while Germany's
DAX 30 advanced 0.81%.
Infographics of the Day: A Who's Who of the Minions
There has
never been a definite guide to the names of the Minions in the original
Despicable Me movie until today. Follow us on this journey as we
unravel the identities of the minions together! Disclaimer: All
information is found after countless hours of rewatching the movie and
researching the available toy lines on the Internet.
Insider Trading 26 July 2013: Apple Insiders Selling
by Asif Suria
Insider
buying decreased with insiders purchasing $30.91 million of their stock
last week compared to $124.18 million in the week prior. Selling on the
other hand increased sharply with insiders selling $2.02 billion of
stock last week compared to $1.25 billion in the week prior. A large
part of the increase in insider selling was driven by hedge fund manager
Dan Loeb selling $1.2 billion worth of Yahoo (YHOO) stock, a majority
of which was purchased by Yahoo.
Associated Press: 4 out of 5 in U.S. Face Near-Poverty, No Work
The Current Employment Crisis Has Deep Roots, Going Back Half a Century
Econintersect: The Associated Press (AP)
has reported survey data indicating that approximately 80% of U.S.
adults face severe economic struggles. The results show the hardship is
rising particularly rapidly among whites. The poll was conducted by GfK
Roper Public Affairs & Corporate Communications, a division of GfK
Custom Research North America and was sponsored by the AP.
Click on photo for larger image.
When Is the Time for Austerity?
by Alan Taylor
This was posted at Voxeu.org on 20 July 2013
Recent
austerity policies have been guided by ideology rather than research.
This column discusses research that reconciles disparate estimates of
fiscal multipliers in the literature. It finds that common
identification assumptions are problematic. Matching methods based on
propensity scores show how contractionary austerity really is,
especially in economies operating below potential.
Read more >>
Chinese Growth Set for Lower Lows
Written by Mark A. DeWeaver
China
is slowing fast. Since hitting a post-financial crisis high of 11.9% in
the first quarter of 2010, Chinese quarterly GDP growth has risen in
just two of the subsequent thirteen quarters. The latest figure of 7.5%,
for the second quarter of this year, is down from 7.7% in the first
quarter and 7.9% in the last quarter of 2012.
This downtrend is set to continue into the second-half. Beijing has just launched a new campaign to rid the Party of 'formalism, bureaucratism, hedonism and extravagance.' This will stifle both consumption and investment for at least the next two quarters.
Euro Crisis News Stories for a Sunday Evening
Econintersect:
There was a lot of good economic news in Europe last week. There were
improvements in one GDP number (UK) and several less bad PMI (Purchasing
Manage Index) reports with the Eurozone composite PMI actually nosing
back above the 50 level. Some of the news stories we have tracked
reflect these glimmers of optimism.
Amazon Remains Focused on Long-Term Growth
by Felix Richter, Statista.com
Amazon reported a $7 million loss for the
second quarter of 2013, as the company continues to sacrifice
short-terms profits in favour of long-term growth.
In the past three months, the Seattle-based e-commerce giant invested
heavily into warehouses, digital content and its Kindle business and
subsequently reported a minor loss despite healthy revenue growth. The
company posted net revenue of $15.7 billion, a 22 percent increase over
last year's second quarter.
The results were just below what analysts had expected, but the stock price gave in only slightly following the release.
