Bruce Krasting Blog | Talkmarkets | Page 1
Independent Banking Professional

I worked on Wall Street for twenty five years. This blog is my take on the financial issues of the day. I was an FX trader during the early days of the 'snake' and the EMS. Derivatives on currencies were new then. I was part of that. That was with Citi. Later I worked for Drexel and got ... more


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Is 105 The New 120? – A Crazy Thought On What Happens Next
The Euro CHF has crossed well over the 1.05 level and looks fairly solid to me. This is a huge bounce from the chaotic levels reached on 1/15 when the SNB floated (low of ~.85). The cross is now 20% off the bottom, and only 15% from where the craziness started.
SNB – Post-Mortem
The Swiss National Bank's move to eliminate the 1.2 EURCHF Peg has proven to be a big market/media event. Here's how the story will play out.
End Of CB Power – SNB Folds
The Swiss economy will rapidly fall into recession as a result of the SNB move.
“Wise Man” Sinks SNB?
The Federal Reserve made a whopping $98 Billion in 2014. That’s a huge amount of money. How big is it?
Fog Of War
Thomas Jordon has enormous power. He can print a biblical amount of money with a keystroke. He’s pledged to do exactly that.
Keystone Comedy?
How about the price of crude? It’s now down 40% in six months! The oil biz has been knocked on its ass as a result. The oil stocks have been taken behind the shed and beaten with a stick, losses of 20-40% in market cap are common.
Closing In On One Twenty
Three major FX pairs are closing in on rates where the big figures start with 120.
Social Security Versus CBO – Who Do You Trust?
The 2014 Social Security report to Congress is finally out. The report was released four-months later than permitted by law; this is the sixth year in a row that the Report has been late. The word ‘sloppy’ comes to mind; Treasury Secretary Lew gets a ‘D’ for timeliness.
On Drip, Rake And Big Swinging Dicks
Like Wall Street, the Big Dicks are only concerned with today, if things blow up, they just move on to another job.
What’s A Trillion Among Friends?
The Congressional Budget Office (CBO) came out with its latest baseline estimates for Social Security (SS) this week.
A Ramble On The Puerto Rican Bond Market
To me, the big, big, big macro economic factor is population growth (or the lack of it). Coupled with population growth is the rate of aging within the population. I don’t care what the Fed and all the other CB’s do to push back on the deflationary consequences of demographics.
Adios Fannie Pref
By pure luck I sold the Fannie T before 3/11 (The day that the Senate voted for an unwind of Fannie and Freddie, AKA The SHTF Day). At $13+ FNMAT was trading at 65% of original par – that’s a rich price for busted pref.
Wall Street To The Rescue??
The weather is great. The beaches are beautiful. The food is good and the drinks are better. The bonds, on the other hand, don’t get on my “buy” list.
White House: “Weather Practically Everywhere Is Being Caused By Climate Change”
The WH has a climate agenda – this is payback for a lot of support (money). But when the chief scientist at the White House ignores the scientists who actually look at weather patterns, then one is forced to doubt everything the White House says on the topic.
Obama On The Money – SOTU Edition
President Obama's upcoming State of the Union address will focus on the theme of income equality in America. The issue at hand is not just income equality, it’s wealth AND income inequality.
Which Door Will Yellen Choose?
Two theories to explain the year-to-date global dumpathon. The first is that it’s all local issues – no single macro story explains the depth of the sell off.
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