India: Next Growth Engine of the world | read this item
Just how fast can India grow? Ask Manal Farooq, who can’t make gloves quickly enough.
“We are facing a major problem,” said Farooq, a senior executive at Marvel Gloves Industries, which produces 3 million pairs of gloves a month, most used in industrial production in India. “Despite importing gloves we are not able to meet demand.”
The [...]
Mohamed A. El-Erian, whose company runs the world’s biggest mutual fund, said deteriorating public finances may affect the global economy more than is currently realized.
“The importance of the shock to public finances in advanced economies is not yet sufficiently appreciated and understood,” El-Erian, co-chief investment officer at Pacific Investment Management Co., wrote in an [...]
Bid/Cover 3.45
Total Amount $21 B
Yield Awarded 3.735%
The 10 Year auction was among the healthiest auction in the last 6 months with Bid/cover coming in at 3.45 while indirect bidders taking 35% of the amount. If tomorrow 30 year auction turns to be healthy, Gold may have topped for [...]
US millionaires grew: So did the poor! | read this item
We updated you earlier today with the news item that US millionaires rose 7.8% in 2009.
The number of U.S. households with a net worth of $1 million or more, not including primary residence (NIPR), grew 16% to 7.8 million in 2009, up from 6.7 million the year before, according to “Affluent Market Insights 2010,” [...]
Dollar update: Target 1.20 to EURO by 2011 | read this item
EUR/USD
BofA had some really tough thoughts for he queen of all crosses, EUR/USD.
Weakness in EUR-USD year to date has run ahead of our once aggressively bearish forecasts. We have adjusted our forecast profile, as a result. The underlying story of receding global liquidity exposing underlying euro frailty and over-valuation remains. In terms of specific forecast [...]
Money continues to leave US: Never mind the Recovery | read this item
In a rather eerie and solemn warning, money continues to pour out of the US even with the recovery trumphet call getting shriller by the day.
In 2010, investors around the globe have pulled $15.3 billion out of U.S. stock funds, according to data from EPFR Global, which tracks money flows. Meanwhile, roughly $2 billion has [...]
EUR/USD: Greece puts in additional austerity measures | read this item
Greece’s cabinet has decided to take additional austerity measures totaling 4.8 billion euros ($6.49 billion) to make sure it is able to meet its deficit-cutting pledge this year, Reuters reported on Wednesday, citing an unnamed government official. Half will be from spending cuts and the other half from tax increases, according to the report. The [...]
I just realised that I and Bill Gross have something in common. We hate Friday nigh touts and cocktails; for exactly the same reasons. And in stead I am more of the Seinfeld re run guy.
We also have the same view of the world. “Investors: Look east” has been our battle cry.
But that is where [...]
FDIC Problem Bank list hots new high 644: Our Target is 1800 | read this item
Am reading straight from Calculatedrisk:
This is an unofficial list of Problem Banks compiled only from public sources. Changes and comments from surferdude808:
The Unofficial Problem Bank List underwent major changes during the week as aggregate assets for all institutions were updated to 2009q4 from 2009q3 and the FDIC finally released its enforcement actions issued during January 2010.
The [...]
China rebuff efforts to revalue Yuan: Says trade surplus falling | read this item
I am great believer in China standing upto to US pressure and not let yuan revalue at the whimsies of the FED. Revaluation of yuan only solves the problem by giving a quick impetus to growth but to maintain that growth still requires stringent measures. Then there is the unanswered question of US fiscal deficit which is to keep [...]
10 Year auctions: Well bid | 
Dollar update: Target 1.20 to EURO by 2011 | 
