Juggling Dynamite

This morning stocks are rallying again on the fumes of bailout funds expected out the IMF meetings this week. Nonsense aside, Spanish bond yields are back above the completely unpayable level of 6% this morning. At the same time, the Spanish stock market (IBEX) ended just 1.3% above its March ’09 closing low and 3.1% above its intraday March ’09 low. March 2009 lows remain within the realm of probabilities for the other highly correlated global stock markets. Equity investors who have no exit plan in advance, place their financial health in grave danger.

James Bianco, president of Bianco Research LLC, Lincoln Ellis, managing director at Linn Group, and Barry Knapp, head of equity strategy at Barclays Capital Inc., talk about Spain’s non-performing loans and the outlook for the nation’s auction of two- and 10-year debt.  They also discuss why this game is likely to blow out the next phase of the global credit crisis.  Here is the direct video link.

Wall Street wants to free itself from the past decade’s regulatory reforms, and Eliot Spitzer says President Barack Obama is too willing to oblige. The former New York attorney general says, with the passing of the JOBS Act, banks are at the public trough once again. Here is the direct video link. At the end of the clip, click the play arrow again for the second part–a very lucid discussion of the counter-productive ideas behind the President’s much heralded JOBS Act.

Danielle was a guest today with Phil Mackesy on Talk Digital Network discussing recent developments in world markets and the global economy. You can listen to an audio clip of the interview here.