In a panic, only two attributes of a financial instrument get priced — liquidity and quality/survivability. In a panic, all risky assets become highly positively correlated with each other. Given that correlations tend to rise in a panic, a reasonable measure of sentiment is to measure the average absolute value of 10-day correlations. Markets cannot [...]
UPDATE 1-S.Korea July exports ease global economic woes
As Rod Blagojevich’s lawyer declared to the jury in his closing argument last week, “Think about it.” He wanted jurors to consider what he thinks is self-evident about his client’s innocence.
The rest of us might well think about all we still…
Australia Eyes 2013 Start Date For Lower-Fee Pension Funds
HAGERSTOWN, Md. — An Army private charged with leaking classified material to the whistleblower website WikiLeaks had civilian help, a key figure in the case said Saturday.
The development, first reported in the New York Times, suggests…
RPT-China July official PMI falls to 51.2 vs 52.1 in June
UK’s Osborne urges banks to lend, restrain bonuses
A recent MIT graduate acknowledged yesterday that he met and exchanged multiple e-mails with the Army private accused of providing thousands of classified war records to the whistleblower website WikiLeaks, but he adamantly denied any role in …
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S.Korea July average daily exports down vs June
