The G20 meeting in St, Petersburg starts today. Festivities start with a Faberge egg hunt followed by a vodka shot contest around lunchtime. Main topics will include Syria and QE with more emphasis on the latter. Even China is giving the U.S some high heat about curtailing QE to early. Go figure. I don’t think anyone in the room is with us on Syria.
The 10 year note $TNX is quoted around 2.93% this morning.
Syrian rebels (our allies) continue to assassinate people and literally eat the body organs of their murdered opposition. Impossible to have a rooting interest for anyone here and I smell quagmire.
The U.S. dollar is firming, has held a two year trendline, and looks higher. Hard commodities are slightly green and stock futures are flattish.
So what happens when you run 2 trillion bucks and the entire investment may be going against you? Ask Pimco’s Bill Gross. He sees the end to the bond run and now wants to invest into, bolder, more complex “alternatives,” maybe hedge funds, commodities, real estate, high-yield bonds, distressed debt — riskier stuff like derivatives “linked to interest rates, currencies, mortgages, credit and commodities.”His buddy and partner Mohammed El Erian says not so fast.
In the early days, Gross was a card counter in Vegas. He could always allocate a chunk to some Texas Hold Em or maybe lay some wood on Monday Night Football. Developing.
The Samsung smart watch is out and it looks like a Casio that I had in high school. Good luck. They also released a super HD 98 inch TV.
$JCP has dumped the Martha Stewart line.
ADP releases their employment estimates this morning and the big non farm payroll number hits tomorrow.
Bilionaire Usmanov sold the rest of his $FB stake for 525 million. Cool to be an oligarch.
Grab a trial here.