TOTALINVESTOR

Saturday, October 10, 2009

To Our Rescue: Asia Steps In to Support Dollar

Asian central banks bought U.S. dollars early in the global session on Thursday to weaken their own currencies, traders said, as the slumping greenback threatens smaller export-driven economies.

Asian central banks said to be intervening in currency markets overnight by buying dollars included South Korea, Hong Kong, Taiwan, Thailand, the Philippines and possibly, Indonesia, according to analysts.

Emerging market Asian nations, already struggling with the tepid U.S. recovery and weak demand for their exports from the world's largest economy, have been doubly hurt because their currencies appreciated against the dollar, prompting repeated intervention. (more)

Friday, October 9, 2009

Why Is Goldman Advising CanWest On Its Programming Line Up?

When a few weeks ago we presented the concept of certain banks stealthy encroachment into the media world we were half joking. After all, the FCC would never allow Wall Street entities, even with equity control, to have a say in program line up and content, right? Needless to say, the potential for abuse (call it brain washing, or what you will) is simply staggering. Separately, two days ago, we highlighted the bankruptcy of Canada's biggest media company, CanWest, whose bankruptcy filings we are still combing through, looking for some of the usual suspects. Which is why we read with great interest Andrew Willis' article in today's Globe and Mail "Inside Goldman's deal with CanWest" which may have helped us, and our readers, elegantly put some of the pieces together. (more)

Celente The Dollar is Finished

Treasuries Fall After Weaker-Than-Average Demand at Bond Sale

Treasuries declined, with 30 year bonds falling the most in two weeks after the government’s $12 billion auction of the debt drew weaker- than-average demand.

The bid-to-cover ratio, which gauges demand by comparing total bids with the amount of securities offered, was 2.37, compared with 2.92 at the September auction and an average of 2.42 at the last 10 auctions. The 30-year bond yield touched 3.89 percent on Oct. 2, the lowest level since April.

“The auction was very tepid,” said Tom di Galoma, head of fixed-income rates trading at Guggenheim Capital Markets LLC, a New-York based brokerage for institutional investors. “The auction shows that the market can sell off when levels are overpriced. This can be a disappointment in these reopened issues.” (more)