One of the most striking recoveries in the first quarter was that of Caterpillar stock, which despite reporting what is now a record 40 consecutive months of declining annual retail sales ...
... had soared from below $60 at the February lows, to over $80/share a few days ago as the market bet that China's massive credit-deluge would benefit the heavy industrial company.
Authored by Steve H. Hanke of the Johns Hopkins University. Follow him on Twitter @Steve_Hanke.
Part 3 of a series on Hamilton: "Hamilton’s Good for the Ten-Spot" and "Alexander Hamilton: Defender of Property Rights."
Just as US equity futures were about to roll over following some very substantial misses yesterday by the likes of Google, Microsoft, Starbucks and a plunge in Visa shares, overnight who came to the markets' rescue but the BOJ, when shortly after midnight Bloomberg reported that "according to people familiar with talks at the BOJ" which is the traditional keyword for a BOJ source testing out the market's reaction, Japan's central bank may "help" local banks to lend by offering a negative rate on some loans.
Wolf Richter www.wolfstreet.com
Another retailer is heading for bankruptcy. This time Aeropostale, with 800 teen-clothing stores, after three years in a row of losses. It’s “preparing to reorganize under a Chapter 11 bankruptcy, and could file as soon as this month, according to people familiar with the matter,” Bloomberg reported today.