NEW YORK, Feb. 5, 2014 /PRNewswire/ -- The February 7th issue of Grant's Interest Rate Observer, a journal of the financial markets, is published and available to the public. This issue is now available for download at www.grantspub.com for all subscribers. To subscribe please visit: http://www.grantspub.com/subscribe or call John D'Alberto: (646) 312-8890.
The current issue includes the following articles:
THE CASE FOR THE UN-TAPER
In so many words, the presidents of the Richmond, Dallas and San Francisco Federal Reserve banks vow to continue to taper, come what may on Wall Street or in that portion of the world situated outside of the 50 states. We have our doubts.
DEAL US OUT
If QE made investors complacent, tapering may make them anxious. If so, the short-selling trade may yet have its day in the sun. Herewith, a bearish analysis of a company that, under the spell of monetary ease and a rising stock market, has gotten more hall passes than a high school quarterback.
GOV. ALEJANDRO CHRISTIE
One public pension crisis is merely a ticking time bomb, while the other has already exploded. Which presents the better opportunity?
"I made the mistake of selling it once before…," a major shareholder of a certain industrial supply distributor wrote to his investors last spring. "The memory of that sale is still painful." If the following analysis is on the beam, it's the memory of not having sold that will soon trouble the company's ardent fans.
FARMLAND BOOM TAPERS
Corn prices have fallen by 30% since April. Farmland prices, too, are softening. What continues to make new highs are the expectations of the starry-eyed sellers.
CHANNELING ARTHUR BURNS
The Fed plucked dollars from the digital ether to expand its balance sheet at a 30.7% annualized rate over the last three months. Yet, over the same three months, growth in broad money grew at just a 2.6% annualized rate. Where is the fruit of QE?
SOURCE Grant's Interest Rate Observer