Global Macro Perspectives
*** The Economist: Grounded PIIGS ***
*** The Big Picture: Long Term Stock Market Growth (1871-2010) ***
*** The Big Picture: According to the Fed, it’s everything but inflation ***
*** Economix: Fearing (Another) U.S. Debt Default ***
*** FT Alphaville: SNB collateral, an Irish and BP non-love story ***
*** The Slope of Hope: Weak Precious Metals ***
Nothing exciting and new upon first (skim)reading.
No secret I’m a big fan of Niall Ferguson. This is a great lecture on empire declines.
Baltic exchange released it’s first pricing after Christmas. Baltic Dry Index was reported down 4.5% at 1,693. Lowest reading since April 2009.
U.S. factory orders rose 0.7% in November. The consensus was at 0.0%, prior reading was at -0.9%.
Factory shipments rose 0.8% vs. prior reading of 0.4%.
*** The Telegraph: Overheating East to falter before the bankrupt West recovers ***
*** Council on Foreign Relations: When Irish IOUs are Smouldering ***
*** Project-Syndicate: Armageddon Can Wait ***
*** Caixin Online: Good Tidings in 2011 ***
*** The Big Picture: AAII Asset Allocation Survey: Bond Holdings at a 10-Month Low ***
*** The Big Picture: BofA Freddie Mac Putbacks Resolved for 1¢ on $ ***
*** Calculated Risk: House Prices: More Pessimistic Views ***