EVENING READING

21ST century competitive currency devaluations –  CW The EU’s dangerous game –  NYT Sell in May and stay? –  Cumberland Did Nassim Taleb get clipped by a black swan? –  Falkenblog Driving without a spare –  PIMCO Using behavioral finance to become a better investor –  II Credit markets aren’t…

BOND MARKET RECAP

By Rom Badilla, CFA – Bondsquawk.com U.S. Treasuries averted an early session sell-off due to a weak showing at the 30-Year auction and rallied later in the day. As the equities market tumbled late in the day, Treasury yields declined, led by the long-end. The yield on the Long Bond…

DOES THE E.U. CRISIS INCREASE THE ODDS OF A DOUBLE DIP?

Derek Holt, vice president at Scotia Capital Economics says the odds of a double dip in the United States are increasing:

RAIL TRAFFIC CONTINUES TO SEE GAINS

The Association of American Railroads today reported that for the week ended May 8, 2010, U.S. freight railroads continued to experience traffic gains for the 11th consecutive week. U.S. railroads originated 288,905 carloads last week, up 14.7 percent from the comparable week in 2009.

MARKET RECAP – STEPPING AWAY FROM THE POKER TABLE

The gamblers took a few chips off the table today as markets gave back most of yesterday’s gains.  The S&P 500 finished lower by 1.2%.  The declining Euro once again has some participants worried about the effectiveness of the EU’s bailout plan.  I’ve been quite vocal with regards to the…

ROSENBERG: 400 POINT RALLIES ARE A REASON TO BE BEARISH

Excellent note this afternoon from the always cheerful David Rosenberg. Mr. Rosenberg notes that 400 point rallies and increased volatility are not the signs of a bull market, but rather a bear market! Rosenberg writes:

ITALY ISSUES DEBT AMID ECB INTERVENTION

Italy auctioned off a total of five billion euros of 5 and 15-Year bonds today at lower borrowing costs due to the ECB’s buying program of government bonds.

THREE THINGS I THINK I THINK

Everyone is making a big fuss over the fact that four U.S. banks went 61 days in a row without any losses.  Well, the better question in this environment is how did any bank manage to not make a profit on all 61 days?  These big banks are borrowing from…