- Behold the new, new economy - The West values Eastern capital (FTAlphaville)
- An awakening giant - manufacturing in Africa (The Economist)
- Turkey sells 31-year dollar bonds - they're paying 6.7%! (WSJ)
US markets were rather uninspiring today. Unable to hold mid-day gains, the S&P500 closed at 1,819 (essentially flat) and the Dow at 15,963 (-30 points). 10 year notes sold off with the TLT settling at a shade under 106. Like I said, uninspiring.
I am still long-biased, albeit sheepishly.
"Let's consult the charts!" said the crudely animated treasury official.
South Park's satirical coverage of the financial crisis a few years back was brilliant. I loved it. The episode climaxed when Stan finally made it to the U.S. Treasury to discover the true value of his father's (defaulted-on) "Margaritaville" margarita maker: $90 trillion. The arrival at that valuation involved treasury officials cutting off the head of a chicken and placing it on an enormous chart - wherever the death knell dance ended was the true value of the asset in question.
I have about that much faith in most charts - which is odd, considering a large portion of my trading is short-term. Tonight take a look at the interesting, and the absurd. Let's consult the charts.
First, the interesting. Ok, it's not really a chart.
Lastly, the absurd, courtesy of the WSJ.
Heads, it's 1929. Tails, it's not.
No comments:
Post a Comment