Monthly Archives: February 2010

CHINA’S COMING CONSUMPTION BOOM

Posted on February 28, 2010 by Denis Ouellet

On January 25, I published CHINESE CONSUMPTION NEAR TAKE-OFF: In all, the stage appears set for the next major leg in China’s economic expansion as domestic consumption will greatly benefit from the forthcoming inevitable decline in savings rates. This will … Continue reading →

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WARREN BUFFETT’S BERKSHIRE ANNUAL GATHERING

Posted on February 28, 2010 by Denis Ouellet

Read Warren Buffett’s Letter to the Shareholders of Berkshire Hathaway Inc. Here is part of the WSJ account of yesterday’s speech. (…) In its annual shareholder letter, the conglomerate, which sells everything from ice cream to machine tools to house … Continue reading →

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Posted in EQUITIES, INVESTING | Tagged , | Leave a comment

CHINESE BANKS LOANS DROP IN FEBRUARY

Posted on February 27, 2010 by Denis Ouellet

Chinese banks lent 1.52T yuan per month, on average, during Q1 2009. The first 2 months of 2010 average 1.05T yuan. The Lunar New Year Holidays were in January in 2009. Chinese banks may have issued some 700 billion yuan … Continue reading →

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IS CHINA HOUSING INFLATION UNDERSTATED?

Posted on February 27, 2010 by Denis Ouellet

When company executive Zhang Lan read the property news on Friday in Jiangsu province, he could not believe what was reported. Property prices in 70 major cities nationwide climbed 1.5 percent year-on-year, with the price of new apartments rising by … Continue reading →

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NOTABLE US INSIDERS TRANSACTIONS

Posted on February 27, 2010 by Denis Ouellet

Click on “Read the rest of this entry” to view the table.

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Is A Sterling Crisis Next?

Posted on February 27, 2010 by Denis Ouellet

(…) With high-deficit countries in investors’ sights, the pound fell to a nine-month low against the dollar this week and, perhaps more surprisingly, to a six-week low against the euro– even as Greece descended into national strikes. A crisis can … Continue reading →

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Posted in CURRENCIES | Tagged , , | Leave a comment

Hot Money Flows Are Driving The U.S. Dollar Trend

Posted on February 26, 2010 by Denis Ouellet

Recent data shows that speculative flows have been a major driver of the bounce in the dollar, especially versus the euro. "Hot money" positions have now reached levels where marginal dollar buyers will be increasingly scarce. For the dollar’s recovery … Continue reading →

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Economic Conditions Snapshot, Feb. 2010: McKinsey Global Survey results

Posted on February 26, 2010 by Denis Ouellet

Economic conditions are much improved for both companies and countries, executives say—but hopes for continued recovery are a little less bright than they were in December. Three-quarters of respondents to our latest survey expect their companies to enjoy a profit … Continue reading →

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Posted in ECONOMY | Leave a comment

CHICAGO ISM VERY STRONG

Posted on February 26, 2010 by Denis Ouellet

Chicago ISM rose again, reaching 62.6 in February, up from 61.5 in January. This is the highest level since April 2005. Sharper month-to-month slowing in deliveries leads a very strong Chicago purchasers’ report for February. Deliveries jumped to 62.6 from … Continue reading →

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Posted in ***RECOVERY WATCH, MANUFACTURING, US economy | Leave a comment

HOUSING SUPPLY MANAGEMENT CONTINUES

Posted on February 26, 2010 by Denis Ouellet

A clear form of price manipulation. David Rosenberg: In March 2008, I published a report titled “Capitalism Takes a Sabbatical.” If only that were the case. I really can’t believe what I just read on Bloomberg News (Obama May Prohibit … Continue reading →

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Posted in BANKS, US housing | 2 Comments

HOUSING WATCH: TEXAS HOUSING MARKET UPDATE

Posted on February 26, 2010 by Denis Ouellet

Sales slide 5% y/y. Texas existing home sales dropped 5% y/y in January, the state’s first y/y decline in sales activity since August 2009. In our view, January’s decline is not terribly surprising given the steeper-than-usual drop in home sales … Continue reading →

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China Labor Shortage To Continue: Poll

Posted on February 26, 2010 by Denis Ouellet

The shortage of migrant workers is likely to continue to escalate in some regions of China, although it is still not a national problem, a government survey has suggested.

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Posted in ***CHINA WATCH, China economy, China employment | Leave a comment