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Mish's Global Economic Trend Analysis: Reader Question: Does the.

MishTalk

Reader Question: Does the Fed Balance Sheet Properly Reflect QE Announcements? The feds balance sheet doesnt reflect it. The balance sheet was up $720 billion from Aug 1, 2012 to Aug 1, 2013 ($309B in treasuries and $393B in MBS) but that is only $60B per month. Feds Balance Sheet.

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ECB Now a Hedge Fund; €1T Bazooka; ECB Promotes Euro Carry Trade; Draghi Has it Backwards

MishTalk

Question: Mr Draghi, you said that the new measures and the TLTROs will have a sizeable impact on your balance sheet. You have the TLTROs which are going to unfold over several operations over two years initially, then two more years. Please consider an ECB Press Conference Q&A (not available when I commented yesterday).

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Back in the Saddle, Just in the Nick of Time

MishTalk

The bank has no plans to securitize its originations, and it won’t keep any servicing rights or build out a servicing operation, Ally spokeswoman Gina Proia said in an e-mail. In 2012, Ally announced that it was going to shutter its mortgage business after the conclusion of ResCap’s bankruptcy proceedings.

Mercer 28
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Persistent Overoptimism Three Ways: Truckers, Fed Economists, Manufacturers

MishTalk

Operating revenue decreased 15.9 2014) finds that one-year-ahead growth forecasts from the Federal Reserve Bank of New York and the European Central Bank from 2008 to 2012 exhibited substantial overoptimism, averaging 1.6 That has spread to the truckload side as well. percent to $182.5 percent to $160.7 A study by Alessi, et al.

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Kodak’s Downfall Wasn’t About Technology

Harvard Business

The company filed for bankruptcy protection in 2012, exited legacy businesses and sold off its patents before re-emerging as a sharply smaller company in 2013. It sold the site to Shutterfly as part of its bankruptcy plan for less than $25 million in April 2012. People went from printing pictures to sharing them online.

Film 28
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Huge Capital Raising Effort at Spanish Bank Passing Latest Stress Test; New Game in Town; Smell Test Failure

MishTalk

On June 22, 2012, I commented Laugh of the Day: Stress Tests Show Spanish Banks Only Need Between €16bn and €62bn in New Capital; ECB to Accept BBB- Rated Debt (One Step Above Junk) as Collateral. Banco Santander passed the last "stress test" so allegedly it had no need to raise capital.

Banking 28
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Mish's Global Economic Trend Analysis: China Manufacturing.

MishTalk

In what should be no surprise to Mish readers, the HSBC China Manufacturing PMI™ shows Operating conditions deteriorate at quickest pace since last September, and new export orders plunge. Operating conditions have now worsened for two successive months. 2012-11-03: Capital Account. 2012-10-10: Capital Account.