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Showing posts from April, 2009

Retail Sales and the Market

Stocks were down today. Party line is that the market was surprised on the downside by retail sales.
Last week, Target, GAP, Macy's, JC Penney, Nieman Marcus (same store sales -30%!) and just about every one else reported a sales decline. How could anyone expect the government series to be anything but down?

We either need new market observers or they need to come up with something different to say...

Villager - UBS

OK - you've seen here before that I occasionally like to smoke a small Swiss cigar named Villiger. And they pack a bit of a punch.

So, UBS has replaced its Chairman Peter Kurer with former Swiss Finance Minister Kaspar Villiger.

Connected with the cigar company? A coincidence? I don't think so...