Monday, November 11, 2013

Global Market Risk³: The Most Important Links For November 11, 2013

I found most of these links on my Twitter feed and blog roll. 

*Ex-Moody’s staff raise alarm over ABS ‘meltdown’ (Financial Times)
*Wall Street feeds the ravenous debt beast again (Financial Times)
*SocGen: This Is It For The Stock Market (Business Insider)
*Big Institutions Bet "All In" On Small Caps (Zero Hedge)
*A Textbook Pre-Crash Bubble (John Hussman)
*Citing economy, pension worries, Fitch downgrades Chicago (CNBCSun-Times)
*Chicago bonds hold up in light trading after downgrade (Chicago Tribune/Reuters)
*Marc Faber: China could spark a bigger crisis than in 2008 (MarketWatch)
*Deleveraging Has Finally Begun In China (Business Insider)
*In Canada, The Insane Pace Of Condominium Construction Has Accelerated (Business in Canada)
*Canada’s housing market teeters precariously (Financial Times)
*Australian housing finance rockets (MacroBusiness)
*Race to Bottom Resumes as Central Bankers Ease Anew: Currencies (Bloomberg)
*Ray Dalio's Bridgewater On The Fed's Dilemma: "We're Worried That There's No Gas Left In The QE Tank" (Zero Hedge)
*Low inflation creating a QE trap (Sober Look)
*Next From The ECB: Here Comes QE, According To BNP (Zero Hedge)
*Rising disparity between renters and homeowners (Sober Look, 11/5/2013)
*Will debt derail Abenomics? (China Financial Markets, 11/8/2013)
*Japanese Households Without Savings Climb to Most Since ’63 (Bloomberg, 11/8/2013)

Interesting economic info on Africa.


And it looks like Greece is a market that is truly cheap when looking at its cyclically adjusted price/earnings ratio (CAPE). But the Greek market could remain cheap for a while and even retest its lows if there's another negative catalyst in the euro area. Greece is currently in a deflationary depression: 1) "Greek October consumer prices mark biggest deflation in 50 yrs" -Reuters; 2) "Greece entered a sixth straight year of recession that has seen disposable income fall by more than 30 per cent." -FT.

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