Long Term Capacity Utilization Chart

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Given that real GDP has moved beyond its pre-recession high, one might expect that capacity utilization would be narrowing and at least above its own pre-recession mark.  However, capacity utilization as reported in February is still only 78.7.  Optimists might … Continued

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

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