Capital markets priced for the worst are reacting well to a little good news.
Godzilla Meets Bambi
Tuesday, October 15, 2002
Monetary Hall of Mirrors
Friday, October 11, 2002
If monetary policy is the easiest it's been in 40 years, why isn't the Fed adding liquidity?
The Tech Depression: Will It Never End?
Tuesday, October 8, 2002
The high-tech investment meltdown shows little sign of easing, with risk premiums remaining at prohibitive levels.
What's Ahead for Bonds?
Friday, September 27, 2002
The pressure driving up long Treasuries is abating -- but so far there's no pressure for them to come back down.
A Lopsided Economy
Monday, September 16, 2002
Both risk and risk-aversion continue to run high, and even Alan Greenspan is silent as an anemic recovery muddles on.
911: Why It Matters, Why It Doesn't
Wednesday, September 11, 2002
Understanding the macroeconomic impacts of 911 -- real and imagined, economic and political.
NY Minutes: Valuation and Deflation -- No Elation
Wednesday, September 4, 2002
We didn't meet one bull on Wall Street last week, yet equity values are attractive and deflationary pressures are under control.
The Reality Trade
Monday, August 19, 2002
The FOMC's bias shift offers little support to a market over-extended on rate-cut expectations.
Monday, August 12, 2002
The same Wall Street economists who expected the Fed to tighten last spring are going to be disappointed all over again -- when the Fed doesn't ease.
Tuesday, August 6, 2002
It wasn't as good as everyone hoped in the first quarter. So it's not as bad as everyone fears now.