Or select individually:
- Why This Market Needs Cheap Money To Keep On Rallying
- Actually, Gold Is On A Tear, And Near All-Time Highs
- Meet The Greeks Who Are Way Scarier Than The Street Rioters
- Now This Is What Volatility Really Looks Like
- The Scariest Job Chart Ever
The key story of the moment is the beginning of the Fed's tightening cycle, a topic on which Morgan Stanley analysts recently dedicated a major report.
In it, the company explored the historical connection between cheap money. As you would expect, the market likes it. A lot.
As the below chart shows, the S&P 500 has been nicely correlated with excess credit growth -- or the change in non-financial credit. This latest rally was no exception. When the Fed does close the spigot, watch out below.
Disappointed that gold isn't regularly busting to new highs like it did last year?
You're just looking at it wrong.
In euros, a currency that's come under serious pressure, gold is basically at an all-time high.
In other words, it's not gold that's gone up or down, it's changing attitudes towards underlying currencies that has changed.
When gold sells off against all the currencies -- because investors suddenly have a new found love of paper money -- that will be a story.
There's no doubt you've seen the wild images of rioters in Athens.
They're violently objecting to the painful budget measures officials are taking.
But officials don't need to be scared of rioters: they need to be scared of normal clerical/office workers. You see, office workers vote.
And as this recent survey (via Waverly Advisors) done by the EU shows, nearly 80% are scared of losing their job, a number that nearly matches the worst level from the financial crisis in 2009. They, not the young anarchists in the street, hold the power. And if they're freaked out, then politicians should be too.
The one month chart of the ADRs for the National Bank of Greece is an excellent illustration of the market's chaotic swings on rumours and news about the Greek debt crisis.
Day after day the chart breaks from the previous days close, reflecting the fears and speculative hopes of traders. On Monday, the shares reached up close to their one month highs. Now they are headed back down.