DFS new leverage targets

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Though it probably seemed like it would be a long time before leverage came back to the financial system, the following comment from Discover caught my eye on its most recent conference call. The company is moving from benchmarking equity … Continued

Fed Liquidity Swaps

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Late last year the Fed reinitiated liquidity swaps with foreign central banks (read: Europe).  If memory serves, the move was good for a 3%+ rise in the S&P 500.  Now that the crisis in Europe is slowing down for the … Continued

Dow Recovery From 1929

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The good people at Bespokeinvest.com just posted a long term chart of the S&P 500 and Nasdaq which highlighted that while the S&P is only 11% from its all time high, the Nasdaq is still more than 60% away.  For historical comparison, … Continued

Bank Multiples

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The XLF is up 21.6% year to date, which is more than any other sector SPDR.  KBE, the large cap banking ETF is up a little more than that ~22% driven by BAC which is up a stunning 76% for … Continued

Steel Consumption Statistics

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BHP’s comments that iron ore demand growth from China will slow helped send the market lower today.  In that context, below is China’s steel consumption relative to the rest of the world as of 2010. It may be somewhat surprising … Continued

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