You have to love our Fed Chairman who said "we are attentive...to the value of the dollar and will continue to formulate policy to guard against risks to our dual mandate to foster both maximum employment and price stability. Our commitment to our dual objectives will help insure the dollar is strong." I think he said he was worried about the dollar but then he wasn't worried about the dollar. I know I am worried about the value of the dollar as no country I am aware of has ever debased their currency to lasting prosperity.    Read More

The bad news is banks are still failing. The "good" news is that there are those banks with the balance sheet strength such they can take over the failures on some pretty good terms.   Read More

Soleil's Carol Berger wondered aloud last week what will happen when the Fed stops buying mortgage backed securities in 2010? She fears that without that deep pocketed bidder there will be no other natural buyer and mortgage rates could go up enough to hurt the housing market. Seeing as how we are partners I figured part of my job would be to help find that reassurance she is looking for.   Read More

Last week consumer credit for the month of September was reported and fell by -$14.8 billion. That marked the eighth consecutive month the consumer pulled in his/her horns. Consumers apparently continue to believe they are too highly leveraged and are working to pay down debt.    Read More

The unemployment rate jumped to 10.2%, the worst in years. 190,000 jobs were lost and it was hoped the number would be -180,000 or so.    Read More

Last Thursday and Friday played with investors minds by looking at the same news two different ways. The economic data that came out on Monday went some distance to calm the worst of the fears created last week.    Read More

On March 18 of this year the Treasury announced they would buy $300 billion of Treasury paper to support the market. They will finish the program this week and some are worried about possible fallout in the market.    Read More

Most expect Korea to bump rates up and to start its exit program to get in front of any potential inflation. There has also been chatter about resource based Norway raising rates as well.    Read More

I wrote yesterday that the jobs numbers might start to look better by year-end since employment fell so much faster than production this past cycle. Soleil's chief economic advisor, former Fed Governor Lyle Gramley, put it better than I could in a conference call to the sales and trading group Monday afternoon. We are in essential agreement that such a development could occur (repeat, could).   Read More

It looks like we are seeing a pickup in demand that might make the better earnings we have seen this quarter become more likely to be repeated in the quarters ahead.   Read More