Weekend Edition (Dec 31-Jan 1)
U.S. Treasury Ends 2005 With Their First Inverted Yield Curve Since 2000 BL
The Yield Curve Mauldin
2005 Wrap-up Noland
Trade deficit, housing among lurking threats CEPR
Greenspan era ends with praise, some blame on bubble BL
Worries dog Wall Street AP
Are bears roaming Broad & Wall? Reuters
Bulls and bears see the same signs but interpret them differently KC Star
Home builders try extras to lure customers UPI
How Bedrock Promises Of Security Have Fractured Across America LATimes
Same old greed, different scoundrels in 2005 IHT (NYT)
Wal-Mart's December Sales Increase 2.2 Percent, Smallest Gain in 5 Years   BL
His Car Smelling Like French Fries, Willie Nelson Sells Biodiesel NYT
House price increase is lowest for decade Times Online
Dogs may give boost to Japan's 2006 consumer spending Kyodo
Russia's Gazprom Shuts Off Natural Gas Supply to Ukraine in Price Dispute BL

Friday December 30
Oil prices surge 40% in 2005 AP
Dow suffers first yearly loss since '02 CBSM
Turkey top-performing index in 2005 CBSM
Gold, Up 18 Percent in 2005, Gains on Wider Investment Demand BL
Japan's Nikkei Records Biggest Annual Rally in Almost 2 Decades BL
Canadian Stocks Soar in 2005; Rally Slowed in Fourth Quarter BL
Treasury market ends 2005 with inverted yield curve CBSM
SOS: save oil stupid CBSM
Bear Stearns Told by U.S. FTC to Provide Data for Mortgage-Lending Probe BL
Fannie Mae, Freddie Mac Exceed Capital Requirements BL OFHEO
Yield Curve Inverts Again.... BL The Dread "Inverted Yield Curve" Slate
The 0.004 Percentage Point That Shook the World Baum
Dollar Declines as Fed Minutes May Signal an End to `Measured' Rate Policy BL
Gold Falls for First Day in Five After 17% Gain in 2005 BL
U.S. Stock-Index Futures Fall; Dow Average May Erase Last of Year's Gains BL
Being Street Smart Harding
Lex: US loans FT
Buffett, Citigroup, UBS, Wrong on Dollar, Remain Bears for 2006 BL
Analysts: U.S. Currency to Fall in 2006 AP
Dual deficit plagues the US economy People’s Daily
Deficits could harm Greenspan's legacy BBC
Do investors expect too much from stocks? USAT
U.S. Growth May Hinge on Businesses NYT
Corporate headliners conjure '70s flashback AP
Treasury urges Congress to raise debt limit Reuters
Inverted yield curve to cool U.S. housing market Reuters
Sharp Increase in Average Time Needed to Sell a Home: Survey R
Omens of the coming Real Estate Bubble? Political Gateay
Year of the 'perfect economic storm' around the bend Desert Sun
TV's Hot Properties: Real Estate Reality Shows WP
Restatements of earnings in 2005 to break record USAT
Accounting errors vex auto industry Det FP
Goldman Sachs Tops Merger Rankings for Fifth Year BL
Refco Creditors Cry Foul TheStreet
Precious Metals Outlook for 2006... Maund  Moneyization Part 19 Schmidt
Gold traders relieved as buyers return after X’mas India Times
Supply shortages and China's appetite keep correction at bay FT
China approves 13 banks as yuan market-makers Reuters
Citi Raises Bid for China's Guangdong Bank to $3 Billion, People Say BL
Bush Battles the Chinese Sock Threat Mises
New chief for Italy central bank IHT
Income trust decision under police investigation Canwest
Putin sees 'crisis' as Russia-Ukraine gas dispute goes to the wire AFP

London Terrorism, China Yuan Peg Lead Most-Read Stories of 2005 BL

Thursday December 29
U.S. stocks close lower as yield curve inverts IBD
Stocks in U.S. Drop on Housing Data, Oil; Dow on Brink of Decline for Year BL
GM shares hit lowest price in over 20 years Reuters
Home Resales Decline by 1.7% to Lowest Level Since March BL PDF
New Claims for Unemployment Increase AP Oil Close to $60
Treasuries May Rise on Speculation Report to Show Housing Boom Is Ending BL
Gold Near Two-Week High on Speculation Central Banks May Buy BL
Gold jumps on talk of China buying Globe & Mail
China's Booming Economy Will Never Surpass U.S. Berry
US investors forced to take fresh look at risk Times Online
Commercial banks see dangerous 'curves' ahead Reuters
Trends to watch in '06: Hot housing market showing signs of cooling PPG
Risky business in 2006? Could be CNN
Visa USA says holiday spending on cards up 27 pct Reuters
Hedge Fund Darwinism With Don Putnam TheStreet
Hedge-fund manager charged CBSM
The worst ethics breaches, best moral deeds of 2005 CBSM
SBA: Many that got 9/11 loans weren't hurt AP
Lawmakers Increase Scrutiny of Pensions AP
Where’s The Outrage of Exploited Gas Consumers? Crudele
Stocks Set Five-Year Highs Globally on Sustained Profit Growth BL
Here comes the rising sun again FT
Japan faces record heating oil prices FT
Rising interest rates worry Japanese execs Manilla Standard
Euro Gains After ECB's Quaden Signals Interest Rate Increases BL
Billionaire Builder of China NYT
Japan government rebukes Goldman Sachs unit over order processing errors AP
Nationalism drives China, Japan apart CS Monitor
Head of Italian insurer Unipol resigns over takeover bids charges AFP

Wednesday December 28
Enron's Causey Pleads Guilty, Will Cooperate in Case Against Lay, Skilling BL
Identify Russell
Treasurys ease; inversion reverses CBSM
Oil Rises Close to $60 as Iran Says OPEC Should Cut Production BL
U.S. Consumer Confidence Index Rises to 103.6, Highest Level Since August BL
The yield curve has inverted. Time to worry? Maybe Globe & Mail
Yield curve inverts for second day CBSM
What does the Yield Curve Tell us about GDP Growth? SF Fed (Feb 03)  PDF
Investors look high (risk), low for return USAT
Hedge Funds Are the New Mutual Funds Slate
As risky home loans rise, house-price 'bubble' inflates USAT
Pension problems loom for boomers USAT
Broken Benefit System Byron
Gold Rises to Two-Week High as Falling Dollar Boosts its Appeal BL
Analysts forecast a new rush to gold BL
Copper Advances to Record as Threatened Codelco Strike May Hit Supply BL
Regulators tell Refco unit to let assets go Reuters
Causey Plea May Help Case Against Lay, Lawyers Say BL
Overstock: Easy To Sell Short, "Impossible" To Buy And Deliver Cross Currents
Here Are My 10 Favorite Value Stocks for 2006 Dorfman
Euro Gains After German Consumer Optimism Rises to Highest in 6-Months BL
Switzerland Gives ECB a Lesson on Interest Rates BL
Illarionov Offers to Leave the Kremlin Moscow Times

Tuesday December 27
Stocks Head South on Yield Jitters TheStreet
U.S. 2-Year Note's Yield Rises Above 10-Year Yield BL Treas
Natural Gas Has Biggest Drop in Almost 3 Years on Low Demand BL
Investor optimism in December highest in 10 months: UBS Reuters
Treasuries Decline; 2-10 Year Yield Curve Is Flattest in Almost Five Years BL
U.S. yield curve inverts, yen falls on rate view Retuers
Brief Holiday Update Hussman
Year-end tea leaves Hulbert
Dollar to recoil in 2006 with Fed seen halting US rate hikes: analysts AFP
Holiday spending rises 8.7%: WSJ CBSM
Ben Bernanke's Heavy Burden TheStreet
China forex official says US Fed´s Bernanke to add uncertainty AFX
Bubbles, Budget, Bird Flu Lead a Long Worry List Currier
The dark side of the dividend boom Jubak
Washington's struggle to cut spending CS Monitor
The year in mining: Only a taste of what's to come Globeinvestor
China faces dilemma on expanding gold reserve Xinhua
Former Wall Street "Elf" Comments on Today's Gold Market RI
Anheuser-Busch, Pepsi May Toast New Year With Higher Prices BL
Japan's Consumer Prices Rise for First Time in 2-Years BL
Yen Falls as Spending, Jobless Reports Send Stocks Lower BL
Asian countries see wave of interest rate hikes Kyodo
Global investment soars in 2005 China Daily
China and India to Face Daunting Risks in 2006 BL
Chinese banks accused of $36bn funds 'abuse' Times Online
An estimated 22,000 Chinese officials have already been audited in the investigation, with 196 referred to the Communist Party for scrutiny and possible punishment
China's mobile phone subscribers skyrocket to 388 million AFP
Taking stock - a year for bulls Sydney Morning Herald
77% investors lost money on stock markets Xinhua
Pension scheme shortfall widens to £75bn FT

Treasuries, Beaten by German, Russian Bonds, May Rally in 2006 BL
Dollar to End Best Year Since 1999 on Winning Note, Survey Says BL

Holiday Edition (Dec 24-26)
National Beverage Corp. Celebrates 20 Years With Cash Distribution Wish List
Be careful what you wish for Mauldin
Cantillon, Raguet, Hawtry & Persons Noland
Whistling Past Graveyards Schiff
Take It From Japan: Bubbles Hurt NYT
House Prices: The State of the Bubble NYT
Builders cut prices to sell homes Herald Tribune
The end of the real estate boom Eeden
Housing bubble starting to deflate AP
Investors play a guessing game with dollar IHT (NYT)
The Mess Greenspan Leaves Mises
Gold still an opportunity for investors - Barron's Reuters
You can beat 'The Street' in 2006! Farrell
Creative accounting leads to fuzzy earns AP
Ex-Enron official may plead guilty Reuters
Wal-Mart says sales to rise modestly CBSM
Nikkei Hits Highest Level Since 2000 AP
Japan's Cabinet Approves Spending Cuts in FY06 Budget Bloomberg
U.N. Adopts a 2-Year Budget, Averting a Financial Crisis NYT
Mushrooming Crisis Forbes
HSBC uses £1bn to halve pension fund shortfall Times Online

Friday December 23
New Home Sales Fall 11.3%, Leaving Unsold Houses at Record ~ PDF
U.S. consumer sentiment on the rise CBSM
Durables Orders Ex-Transportation Unexpectedly Drop BL Ts Higher
Treasury yields within whisker of inversion FT Daily Curve
Resolution: Underpay Forbes (Grant)
Housing affordability hits 14-year low WSJ
The Bubble Cycle is Replacing the Business Cycle Janszen
Breaking Out of the Psychological Box Conditioned by Bear Market Past Bugos
2006: To Bull or not to Bull? BnB
Fed's Lacker says rate fine-tuning may be ongoing Reuters  Speech
Gold Trades Above $500 in Asia BL
Global Gold Breakouts Zeal
Gold expected to scale new heights in 2006 MG
Gold seen marching into 2006 with fanfare Reuters
Germany to decide next year whether to dispose of reserves AFX
Gold/foreign currency reserves at all-time high Russian Journal
Opec hints at keeping oil above $50 a barrel next year Times Online
Money to help poor pay heating bills running out USAT
Shanghai Copper Futures Reach Record on Demand from China, U.S. BL
Copper: Not Sexy, But a Juicy Story Anyway EW
Coal to make its comeback from the bottom of a dark and very deep pit Inde
Wal-Mart Told to Pay $172 Million to California Workers Denied Meal Breaks BL
Ford bails out Jaguar with 1.2 bln stg capital injection - report AFX
Former Goldman chairman says Spitzer threatened him Reuters
Prison term could cap oil trader's legendary career USAT
An Omaha Stake-Out NYP
Bubble-era buyouts are back Business 2.0
Japanese Investors Skeptical Of The Bull Forbes
French Business Confidence Unexpectedly Drops BL
A Crossroads for Europe's Central Bank NYT
China's Nov. Auto Production Sets Record AP
Brazil's Soaring Currency, Once a Loser, Now Hampers TV and Truck Exports BL
Italian Senate Approves Savings Bill FT
Insider dealer loses stock options but keeps job Times Online
Bonus Fever on London's Wall Street NYT
Foreigners May Soon Play a Part in Kuwait Oil NYT
Bush Cutting U.S. Troops Levels in Iraq AP

Thursday December 22
Energy Outlook 2005 Geotimes
Barrick to buy Placer G&M
U.S. Personal Spending Rises 0.3%; Prices Climb Less Than Forecast BL
U.S. jobless claims fall to 318,000 CBSM
Stop the presses, America! Mogambo
The Year Of Living Complacently BCA Research
Financial market volatility will rise next year, despite a benign macro outlook.
A glimpse behind the hedge fund curtain IHT (NYT)
The boom that wasn't EPI
Crude Rises After Unexpectedly Steep Drop in Supply BL
Energy still risk to inflation: Richmond Fed's Lacker CBSM
Energy In The 21st Century: A Rough Ride Ahead Simmons  PDF
No Way Found to Cut Need for Foreign Oil WP
OPEC likely to cut oil output in 2Q of '06 AP
8 reported dead in Nigerian pipeline blast, Shell halts supplies AFP
Does gold really glisten for all investors? AP
Central bank may lift curbs on gold products SD
Silver Users Fear Silver Shortage PRN
Gold expected to rise further in 2006 Business Times
Should Dow boot GM? CNN
EU threatens Microsoft with daily fines Reuters
SEC Wins Order Freezing Assets Of HMC International DJ
Senate strikes deal to extend Patriot Act USAT
Japan breaking out of economic slump CS Monitor
It’ll have its scares, but Japan is still the best story in town Economist
Put Currencies In One Basket To Beat Weak USD Dow Jones
No plan to bail out smaller banks: official China Daily
Sri Lanka raises key interest rates to rein in inflation AFP
Morales to Nationalize Bolivia Oil, Gas AP
Credit card debt catches up with Britons USAT
Qatar Finds a Currency of Its Own: Natural Gas NYT
Alberta's Riches Spark Resentment in Rest of Canada BL
Colombia sells coca-leaf soda CS Monitor
GZI REIT shares leap as much as 22.7pc on debut Standard
Mizuho fiasco will cost $440 million Australian

Wednesday December 21
Economy Expanded at a 4.1% Annual Pace in Third Quarter BL BEA
The Fed: Pulling on a Rubber Band AEI (Makin)
Musings on Assessing "Irrational Exuberance" DeLong
America's most-hated companies Economist
For Economist I.C. Clearlie, Future Isn't Cloudy Baum
Gold price tumbles, but Bull Market still intact MoneyWeb
Ongoing Liquidity To Further Support Gold Price AIR
Don't Ignore Gold's Message TheStreet
Gold seen marching into 2006 with fanfare Reuters
In turbulent times, gold becomes hot commodity AP
Home loans catch up to consumers Arizona Republic Mortgage applications fall
Housing boom no longer a credit lifeline for many in Valley
Fannie Mae's 2006 Outlook Mish
Banks raise credit card payments USAT Digging deeper to pay minimums
Higher minimums may not make for happy holidays
Calpine Files for Bankruptcy Protection AP
Kerkorian Sells 12 Million GM Shares After Stake Loses One-Third of Value BL
“Kerkorian and the board have both underestimated the challenge of resetting GM onto a profitable track. They both miscalculated.''
Toyota Closes In on G.M. NYT  GM vows to stay on top AFP  NWO?
In GM's glory days, no one could have foreseen its downfall Det FP
AOL, Google Seal $1B Deal ~  Microsoft Odd Man Out in AOL-Google Deal AP
Muni Agenda for '06 Features New Bonds, New Orleans BL
Ex-Qwest CEO Nacchio charged with insider trading Reuters
Game Maker Cuts Forecast as Industry Seems in Slide NYT
RIM CEO's tantrum Globe & Mail
Wal-Mart's Waiting Game in Japan Business Week
Wikipedia founder edits himself Times Online
New Yorkers face second day without mass transit CNN
Federal judge dismisses evolution challenge FT
Copper steady amid jitters as China's bad contracts about to fall due AFP
China takes steps to prevent miscalculation of economic statistics PD
Size Matters and China Just Got Much Bigger Pesek
Citigroup Leads $2.7B Bid for Stake in Guangdong Bank, People Say BL Barclays opens first China branch BBC
Nikkei hits 5-yr closing high, property firms lead Reuters
World imbalances: Economics, physics, philosophy? Reuters
The paradox of plenty Economist
One day soon poor countries may actually benefit from their natural resources
Bank minutes spark rate cut hopes Times Online
House prices drop for first time in 10 years Telegraph
MEP concerned about house repossessions Westmoreland Gazette
Foreigners own 30 per cent of India Inc Rediff
Ratting on a pension promise could become the norm... Independent
Union fury as Rentokil directors escape pension hit Times Online First of Many
Australia: The List of Shame Daily Telegraph
Pratt accused of price-fixing cartel SMH
6 brokerages willing to cede J-Com cash Asahi
Germany's Top Banker Faces Retrial AP
News Corp 'poison pill' case heads for court Guardian
U.S. Keeps a Wary Eye on the Next Bolivian President NYT
Saudi to build 26-billion-dollar new city AFP
Iraqi vote points to Islamist path CS Monitor

Tuesday December 20
Gold's under $500, at three-week low CBSM
Fed, Agencies Seek Tighter Mortgage Standards Amid `Interest-Only' Offers BL
Qwest's Former Chief Nacchio Is Charged in $100.8 Million Insider Trading BL
U.S. Nov. Producer Prices Fall 0.7%; Core Prices Rise BL BLS
Housing Starts Rise 5.3%, More Than Forecast; Permits Increase BL Census
MEW Drag McCulley
Inversion - Necessary But Not Sufficient Recession Condition Kasriel  PDF
Why you'll grow rich...very slowly Money Magazine
Gross sees lower returns ahead from all kinds of assets.
Inflation Monster Captured Mish
Update on the Dollar Schaeffers
Gold Rises in London Trading After Decline Lures Jeweler Buying BL
Gold prices steady above $500 an ounce FT
Japanese gold buyers galvanised by softer yen FT
China's central bank drafts rules governing gold imports, exports AFX
Gold still glistens in 2006 FT
2006 will be shaped by the Federal Reserve Kellner
Major decisions loom quickly for new Fed chief CBSM
OPEB Shortfall Exceeds That of Pensions CFO
For the S&P 500, the underfunded OPEB liability totals $292 billion, compared with $150 billion for those companies' underfunded pensions.
Housing bubble deflating, says builders survey NAHB
Raising the Minimum Wage Sennholz
New York City Transit Workers Strike AP
Ford Credit debt pushed out of index FT
Toyota, Honda Expect Record U.S. Sales Next Year, Hurting General Motors BL
Icahn Doubts Google Best Partner for AOL AP
Nine books that will keep you from losing money Farrell
SEC Drops Case Against TenFold Execs CFO
Alaska Files Suit Against BP, Exxon Mobil AP
Wrong Package NYP
The claim alleges that the Merrill broker repeatedly assured Weyrauch that there was no "downside"...
Wal-Mart Admits Probe Over Hazardous Waste AP
$64B diamond industry rocked by fraud CNN
Man To Turn Over Hedge Fund Documents II
Citadel hedge fund cuts over 100 IT staff - source Reuters
Goldman to drop convertible arb hedge fund index Reuters
Dividends set to double by 2010 FT
In 1980, 469 companies in the S&P500 blue-chip index paid a dividend. That number reached a low of 351 in 2002.
Billionaires bank on bridge to trump poker USAT
China's Economy, Larger Than Thought, May Vault Ahead of U.K. BL
China, economic superpower IHT (NYT)
Asia rises; Nikkei gains on land deal CBSM
One of Japan's largest-ever property deals...
Japan to Cut Bond Sales for First Time in Nine Years on Tax Receipt Gains BL
Could A Yen Replay Of 1998 Unfold? BCA Research
Goldman's Courtis Says Japan Stocks Will Be Among `Worst' on the Yen BL
Asia Eyes Common Currency Reuters
IMF gives Brown an opportunity to drop the 'golden rule' Times Online
Education May Thwart India's Call-Center Dream BL
Tokyo Stock Exchange chief expected to quit over botched trade AFP
Rentokil May Need 380 Million Pounds for Pension Gap BL
UK retailers call for halt in EU war on Chinese plastic bags Times Online
Evans declines top job at Russia's Rosneft FT
Report: Rest of Yukos Assets to Be Sold Off Moscow Times
Governor of Bank of Italy finally resigns Guardia

Monday December 19
What happened to the Santa Claus rally? CNBC
Bank of Italy's Fazio Quits Amid Investigation of Bank Merger Oversight BL
SEC charges 2 with trading on Stern deal Reuters
Geezers' glimpses not all glum CBSM
Gold above $510 CBSM Fortis Monthly ~ Central Bank Gold Reserves GFMS
Calpers, Hermes Among Pension Funds Joining Oil, Metal Boom BL
Clinton’s boom holds lessons for Bush Brookesnews
What Happens When the Fed is Finished? Hussman
What Fed's Latest Mumbo Jumbo Means WSJ  Chart
Fed chairmen and the scary mask CS Monitor
Bernanke faces an economic "accident waiting to happen"
On the verge of inversion CBSM
New Fed will need guts to keep raising rates
Federal Reserve plays major role in fate of 2006 market USAT
Harvard economist Feldstein challenges Fed's Greenspan CP
Despite what you hear, inflation is growing MSN
The Symbiosis Trap Roach
Housing markets to provide rate clues FT
Built on the boom: Realty feels a chill Sac Bee
Days of torrid buying, prices giving way to 'for sale' cycle
Media Creates Bubble Theory Mish Boom ~ Agents Aplenty
Global recession in the New Year? Business Standard
If interest rates in the US increase further, the property and retail bubble could burst, leading to a major turmoil
Liftoff, Soft Landing or Crash? Part II BnotB
So tonight we're going to party like it's 1998 Independent
Make deals and be merry for tomorrow we shall crash
Goldman Uses China to Reclaim Top Ranking in 2005 Asia Acquisitions BL
Dr. Altman Can Lay Odds on General Motors Default BL
FPL to Buy Constellation for $11 Billion, Doubling Nuclear-Power Business BL
Gold Bars for 2008 Beijing Olympic Games Go on Sale XIC
WTO deal 'one step better than failure' Times Online
Ayn Rand vs Korean Rice Farmers in Hong Kong Pesek
Rulebook torn up as link between energy prices and wages is broken King
A Question, Mr. Trichet. Why Is Dad Out of Work? BL
LBOs prompt European corporate concern FT
German Producer Price Inflation Fastest in 23 Years BL
Australian economy: why the jobs figures are dangerously misleading Jackson
Shanghai land sales up 52 pct but below target - report AFX
China bids for $100bn Iran energy pact Gulf News
Swedish government embraces peak oil EB The Price of Oil NYT
Goldman's Murti Says `Peak Oil' Risks Sending Prices Above $105 BL
Venezuela's Chavez Uses `Hedge Fund' to Buy Bonds, Sway Region BL
Argentina: The Social Debt Will Have to Wait IPS
Have Currency Investors Gone Loonie? To
Two Individuals Scoop Total $22 Million From J-Com Stock Trades BL
Customs Agents Seize Counterfeit Tamiflu AP
Time Persons of 2005: Bill and Melinda Gates, Bono Reuters  TIME

Dollar May Continue Decline on Speculation US Rates Approaching Peak BL
Yen May Rise on Expectation Economic Growth to Accelerate BL

Weekend Edition (Dec 17-18)
The Week Ahead: Backing Down the Greenback CIBC PDF
Malls Full but Sales Not Spectacular AP
Holiday Buying May Not Push Dow to 11,000 AP
Beware the yield Grinch Globe & Mail
Do Trade Deficits Matter? Mauldin
Most Unfavorable of Legacies Noland
US Govt. Energy Forecast Zeal
U.S. House Prices Are Set To Slow BCA Research
Is It Bullish When the Market 'Ignores Bad News'? Prechter
Neighbors suspect scam in home sales Dallas Morning News
Suspicious swings in commodities CBSM
Despite gains, gold not for all investors AP
Time Warner to Sell 5% AOL Stake to Google for $1 Billion NYT
US watchdog probes $700m poker bid FT
Intel ends stock options for some employees Reuters
‘It's going to be a great trial,' Black says Globe & Mail
Upland man pleads guilty in $150-million scam SonS
Senate Rejects Extension of PAct