Opinions Uncensored

After the Beta Trade in Emerging Markets

By Sammy Suzuki and Morgan Harting, AllianceBernstein It’s getting harder to generate equity returns in emerging markets (EMs). Simply chasing the index—the so-called beta trade—won’t do the job anymore. But with a more discriminating, active approach, we believe investors can still capture...

Thursday: Unemployment Claims, FHFA House Price Index

From Kathleen Madigan at the WSJ: Why Rising Rents Haven’t Pumped Up Inflation For the 12 months ended in September, [owners’ equivalent rent] OER is up 2.7%, up from 2.2% a year ago. (Actual rent paid by tenants is up a faster 3.3%.)OER is the big gorilla in the inflation room. It accounts for...

We The Economy – 20 Short Films You Don’t Need to Watch

Morgan Spurlock has a new set of films out supposedly explaining how the economy works.  They’re 20 short films that explain various elements of the monetary system and economy.  The only problem is that the films are filled with basic errors.  For instance: The film on “What is Money” uses a...

QE Timeline Update

With QE3 expected to end next week, by request, here is an updated timeline of QE (and Twist operations):• November 25, 2008: Press Release: $100 Billion GSE direct obligations, $500 billion in MBS• December 16, 2008 FOMC Statement: Evaluating benefits of purchasing longer-term Treasury...

Key Measures Show Low Inflation in September

The Cleveland Fed released the median CPI and the trimmed-mean CPI this morning:According to the Federal Reserve Bank of Cleveland, the median Consumer Price Index rose 0.1% (1.8% annualized rate) in September. The 16% trimmed-mean Consumer Price Index also rose 0.1% (1.8% annualized rate)...