08/01

U.S. Recession Is on Verge of Making History Bloomberg / Caroline Baum

Small Florida bank is 8th U.S. failure this year Reuters

Fitch sends Ford deeper into junk territory AP via Houston Chronicle

Housing statistics - particularly about prices - are tough to analyze Dallas Morning News / Steve Brown

Mounting job losses mean slowdown McClatchy via Contra Costa Times / Kevin G. Hall

Oil drops below $124 on weak U.S. economy AP via Detroit News / Pablo Gorondi

The Maestro Won't Face the Music Euro Pacific via Safehaven / Peter Schiff

Treasurys head towards weekly gains Marketwatch / Deborah Levine

Venezuela: Bonds fall on Chavez's plan to nationalize bank Marketwatch / Polya Lesova

Gold futures close lower for the day and week Marketwatch / Myra P. Saefong

Stocks Can't Shake Losses Investors Business Daily / Vincent Mao

Sun's quarterly profit plummets 73% AP via CNN

U.S. Stocks Fall on GM, NYSE Euronext Results, Oil's Advance Bloomberg / Eric Martin

Yahoo on the Verge of Seeing Results, CEO Yang Says Bloomberg / Crayton Harrison and Amy Thomson

Early GDP report: Good news scarce San Francisco Chronicle / Sam Zuckerman

Jobless rate highest in 4 years Reuters / Glenn Somerville

U.S. ISM Manufacturing Index Fell to 50 in July Bloomberg / Timothy R. Homan

Friday’s Stocktiming.com Analysis Stocktiming.com / Marty Chenard

General Motors posts $15.5 2Q loss on North American ills, charges for layoffs, strikes AP via Chicago Tribune / Tom Krisher and Dee-Ann Durbin

Nissan's profit drops 43 percent on rising yen, provisions for declining value of leased cars AP via Chicago Tribune

Dollar hits near 6-week high vs. euro CNN / Kenneth Musante

Crude Oil Rises on Israeli Comments About Iran Nuclear Program Bloomberg / Margot Habiby

Home Prices Fell in 23 of 25 U.S. Metro Areas in May Bloomberg / Dan Levy

Fed Fears Wage Spiral That Is Little in Evidence NY Times / Louis Uchitelle

U.S. Economy Probably Lost Jobs for Seventh Consecutive Month Bloomberg / Shobhana Chandra

More Arrows Seen Pointing to a Recession NY Times / Peter S. Goodman

More gloomy sales numbers on tap for automakers Marketwatch / Shawn Langlois

Profit Data May Explain U.S. Gloom NY Times / Floyd Norris

Economy running out of steam LA Times via Seattle Times / Peter S. Gosselin

Treasuries Head for Weekly Gain; Jobs, Manufacturing May Fall Bloomberg / Wes Goodman

Big housing bill: no rescues soon Christian Science Monitor / Ron Scherer

High Fuel Costs Delay Airplane Orders NY Times / Micheline Maynard

BMW, British Airways pace Europe stocks retreat Marketwatch / Steve Goldstein

Asia Stocks Fall on Lower Earnings; Sumitomo, Suncorp, NEC Drop Bloomberg / Chua Kong Ho and Patrick Rial

08/02

Employers in U.S. Cutting Jobs, Hours, Signaling Slower Growth Bloomberg / Shobhana Chandra

Parents economize back-to-school spending as costs rise Detroit News / Jennifer Youssef

European Bonds Post Biggest Advance Since 1998 as Growth Slows Bloomberg / Gavin Finch

Treasuries Post Biggest Gain Since June as U.S. Economy Slows Bloomberg / Daniel Kruger

Lower Labor Costs Now! Lew Rockwell / Llewellyn H. Rockwell, Jr.

Employers in U.S. Cutting Jobs, Hours, Signaling Slower Growth Bloomberg / Shobhana Chandra

Jobless Rate Hits a High, Dims Hope For Recovery Washington Post / Neil Irwin and Alejandro Lazo

Dollar Rises to One-Month High on View U.S. Slowdown Spreading Bloomberg / Ye Xie and Candice Zachariahs

FL: State in a recession, economist calculates Miami Herald / Scott Andron

08/03

Retirees may see a big boost in benefits Dallas Morning News / Scott Burns

Rich begin feeling the pain in down economy AP via Seattle Post Intelligencer / Mark Jewell

Stagflation stifles Fed, ECB, BoE Reuters / Emily Kaiser

Fed to act with a steady hand Marketwatch / Rex Nutting

Fed to sit tight on rates as oil prices moderate Reuters / Alister bull

S&P emails reveal credit-rating problems: report Marketwatch / Michael Kitchen

CNBC and the tempo of doom Chicago Tribune / Mary Umberger

Hedge funds buy mortgage debts AP via Augusta Chronicle

CA: Should you buy a home now? LA Times / Peter Y. Hong

How serious is downturn? Even rich get frugal AP via MSNBC

Services Probably Shrank for Second Month: U.S. Economy Preview Bloomberg / Courtney Schlisserman

Hovering Above Poverty, Grasping for Middle Class Washington Post / Michael A. Fletcher and Jon Cohen

In finance jobs, New York's loss is Chicago's gain Chicago Tribune / Joshua Boak

Royal Bank of Scotland poised for biggest loss in UK banking history London Times

Oil Drop Brings No Relief To The Pump NY Post / John Aidan Byrne

Obama, McCain Advisers Agree on Worsening Economy, Not Solution Bloomberg / Nadine Elsibai

For bankruptcy lawyers, hard times are good business Tennessean / Naomi Snyder

More Americans look near, far to save on health care AP via Pittsburgh Tribune Review / Linda A. Johnson

Bank of England urged to make rate cuts by winter London Times / Iain Dey and Ben Laurance

Australia to Leave Benchmark Rate at 7.25% as Job Growth Slows Bloomberg / Jacob Greber

Fed Up by Food Prices, Many Grow It Alone Washington Post / Robin Shulman

08/04

Lower rate of interest Marketwatch / Mark Hulbert

The law catches up to oil Marketwatch / Irwin Kellner

Copper hits six-month low Reuters via Globe and Mail

Consumer Price Index may not reflect your family's reality Dallas Morning News / Pamela Yip

Canada: Is it back to the 70s? Globe and Mail / Heather Scoffield

Greenspan says more banks, institutions may founder Reuters

Wachovia, affiliates sued over bond fund losses Reuters

Europe's junk bond market in deep freeze Telegraph / Ambrose Evans-Pritchard

So Much For $200 Oil? Forbes / Dan Fisher

Credit Still Scarce A Year Into Crisis, Despite Fed Efforts Investors Business Daily / Scott Stoddard

Builders tighten belts as steel, diesel and other costs rise South Florida Sun Sentinel / Anika Myers Palm

Real-estate commissions: Negotiating works AP via Seattle Times / Candice Choi

U.S. Stocks Fall, Led by Commodity Producers; Exxon Drops Bloomberg / Elizabeth Stanton

Loonie Loses Currency Wings as Canada Hurt by U.S. Bloomberg / Liz Capo McCormick

No direction home Marketwatch / Greg Robb

Dollar reverses losses as crude oil slips Marketwatch / William L. Watts and Lisa Twaronite

Gold tracks tumbling oil price to end at six-week low Marketwatch / Polya Lesova & Myra P. Saefong

Oil falls to 3-month low as OPEC output rises Reuters / Richard Valdmanis

Falling oil prices: The downside Fortune via CNN / Colin Barr

CRB Commodity Index Heads for Biggest 1-Day Drop Since March Bloomberg / Millie Munshi

Stocks decline after oil falls sharply AP via San Francisco chronicle / Tim Paradis

Street Red Before Fed Forbes / Steve Schaefer

Will Consumer Spending Drive the US Economy into Recession? Brookes News via Safehaven / Gerard Jackson

The Fed's flight of the doves CNN / Paul R. La Monica

The Fed's rate dilemma CNN / Chris Isidore

Bonds edge higher as US stocks extend losses Reuters

Inflation-adjusted consumer spending falls as prices surged by largest amount since 1981 AP via Chicago Tribune / Martin Crutsinger

U.S. Spending Rises; Prices Jump the Most Since 2005 Bloomberg / Bob Willis and Shobhana Chandra

June incomes rise smallest in a year, prices up Reuters / Glenn Somerville

Monday’s Stocktiming.com Analysis Stocktiming.com / Marty Chenard

A less bloody battleground The Economist

Economy puts dent in couples' big day Washington Post via Tennessean / Cecilia Kang

Slow economy forecast for fall election Christian Science Monitor / Ron Scherer and Alexandra Marks

Obama Leads, Pessimism Reigns Among Key Group Washington Post / Michael D. Shear and Jon Cohen

Fewest Treasury Traders Since 1960 Hit Taxpayers Bloomberg / Sandra Hernandez

U.S. Treasuries Decline Before Auctions of 10-, 30-Year Debt Bloomberg / Gavin Finch and Wes Goodman

Rolling Recessions Bring Paralysis to Bernanke, King, Trichet Bloomberg / Rich Miller and Simon Kennedy

Fed likely to hold rates steady amid crosscurrents AP via Houston Chronicle / Jeannine Aversa

Housing Lenders Fear Bigger Wave of Loan Defaults NY Times / Vikas Bajaj

Now is the time to lock in your mortgage rate CNN / Les Christie

A miserable time looms for America as the boomers become pensioners Independent / Stephen King

Warehouse shoppers: Do you save enough to justify the trip? Christian Science Monitor / Sarah More McCann

U.S. Consumer Spending Probably Slowed in June as Rebates Faded Bloomberg / Bob Willis

Stocks poised for mild bounce CNN

HSBC profits sag 28 pct to $10.2 bln on bad debts Reuters

Wall Street's Energy Romance Fading NY Sun / Dan Dorfman

You were misled: gold doesn't win the gold medal Telegraph / Paul Farrow

Oil tops $126 on Iran tensions AP via CNN

Aluminum's 12% Summer Swoon Masks Looming Shortage Bloomberg / Brett Foley

June euro-zone producer prices up 8% annually Marketwatch / William Watts

08/05

Tuesday's rally wasn't as strong as it looked Marketwatch / Mark Hulbert

Whole Foods 3Q misses estimates, lowers outlook AP via Houston Chronicle / Sarah Skidmore

News Corp 4Q profit jumps 27 percent AP via Houston Chronicle / Jeremy Herron

Cisco earnings up 4 percent, beating estimates AP via Houston Chronicle

Addiction to cheap airfares is causing travel ruin Marketwatch / Chris Pummer

Issuers making it tougher for borrowers to say 'Charge it' Marketwatch / chuck Jaffe

Loonie hits lowest level in almost a year Globe and Mail / John Partridge

Treasurys decline moderately after rate decision AP via Houston chronicle / Tim Paradis

Defaults on Local, Foreign Currency Debt Rising, Moody's Says Bloomberg / Cordell Eddings

Economists want rates raised, while borrowers push for cuts Palm Beach Post / Marilyn Geewax

FOMC Statement Federal Reserve Board

Fed holds steady; signals no rush to raise rates Reuters / Mark Felsenthal

Fed Keeps Rate at 2% as Economic Growth Stagnates Bloomberg / Craig Torres

Fed: Tough Talk, No Action Forbes / Maurna Desmond

Dow gets 331-point boost CNN / Ben Rooney

Review and Preview Morgan Stanley / Ted Wiseman

Agency Mortgage-Bond Yield Spreads Rise to Four-Month High Bloomberg / Jody Shenn

How Ginnie Mae differs from Fannie, Freddie San Francisco Chronicle / Kathleen Pender

Indexes Press Higher On Solid Volume Investors Business Daily / Alan R. Elliott

Street Picks Up Momentum; Fed On Deck Forbes / Steve Schaefer

Molson Coors 2Q profit falls 56 percent AP via Denver Post / Emily Fredrix

Procter & Gamble 4th-quarter profit jumps 33 percent AP via Pittsburgh Post Gazette

Corn falls for fourth day as dollar rises; wheat gains Marketwatch / Moming Zhou

The oil price is dropping. Reasons not to cheer The Economist

Sparring over energy The Economist

Oil falls for second day on dollar, demand concerns Marketwatch / Moming Zhou

Oil price falls further to $118 BBC News

Bonds slip after U.S. service sector data Reuters

Only Bernanke Knows When General Mills Sells Debt Like Cheerios Bloomberg / Gabrielle Coppola

Embarrassing E-Mails Will Clean Up Auction-Rate Mess Bloomberg / Joe Mysak

Wall Street spikes higher after data shows economy contracted less than expected AP via Chicago Tribune / Joe Bel Bruno

Tuesday’s Stocktiming.com Analysis Stocktiming.com / Marty Chenard

Service Industries in U.S. Contracted Again in July Bloomberg / Courtney Schlisserman

The Fed's missing link CNN / Katie Benner

Fed seen holding rates steady as growth stumbles Reuters / Mark Felsenthal

Bernanke May Sound Tougher on Inflation to Avert Fed Rebellion Bloomberg / Scott Lanman

No change expected in Fed interest rates AP via Washington Post / Martin Crutsinger

Is the U.S. Banking System Safe? Lew Rockwell / Jim Quinn

A Recession on the Horizon? Daily Standard / Irwin M. Stelzer

Service Industries in U.S. Probably Contracted for Second Month Bloomberg / Courtney Schlisserman

ECB, BoE expected to leave rates unchanged AP via Palm Beach Post / George Frey

The Argument for Offshore Drilling NY Sun / Liz Peek

U.S. spending obligations surge Christian Science Monitor / Gail Russell Chaddock

Democrats unrelenting in oversight of Bush administration Christian Science Monitor / Peter Grier

Millions With Chronic Disease Get Little to No Treatment NY Times / Reed Abelson

Treasuries Little Changed Before Fed Decision on Interest Rates Bloomberg / Wes Goodman

Dollar Rises Against Euro on Fed Rate Outlook, Oil Decline Bloomberg / Kosuke Goto and Stanley White

Oil Falls a Second Day as Storm May Miss U.S. Gulf Facilities Bloomberg / Margot Habiby and Samantha Zee

Is the oil bubble finally deflating? Tropical Storm Edouard contributes to decline AP via South Florida Sun Sentinel / Stevenson Jacobs

Asian Stocks Fall for a Third Day; BHP, Mitsubishi UFJ Drop Bloomberg / Chen Shiyin

Taiwan Inflation Probably Climbed to 14-Year High on Food, Oil Bloomberg / Tim Culpan

New Zealand's Jobless Rate Probably Rose to 18-Month-High 3.8% Bloomberg / Tracy Withers

Australian Services Demand Shrinks for Fourth Month in July Bloomberg / Jacob Greber

08/06

Divorcing Money from Monetary Policy Federal Reserve Bank of New York / Todd Keister, Antoine Martin and James McAndrews

U.S. Options Index Dips to 2-Month Low as Cisco, Freeport Gain Bloomberg / Jeff Kearns

Should you invest in mega caps? Telegraph / Paul Farrow

Scooters, Shuttles Replace Silicon Valley Mercedes Bloomberg / Ryan Flinn and Vivek Shankar

Mortgage Applications Slightly Increase In Latest MBA Weekly Survey Mortgage Bankers Association

Wall Street bonuses expected to tumble CNN

The Fed's Next Move is Down Euro Pacific via Safehaven / John Browne

Pimco's Gross says U.S. will rescue Fannie, Freddie: report Reuters

Company Auction Rate Purge Builds Steam CFO.com / Alan Rappeport

Fiscal 2008 budget deficit seen about $400 billion Reuters

US mortgage rates unchanged on Wednesday –BestInfo Reuters

U.S. Stocks Rise, Led by Technology, Energy Shares; Cisco Gains Bloomberg / Elizabeth Stanton

New Buzzword for Commodities - "Demand Destruction" SirChartsalot via Safehaven / Gary Dorsch

Global Support for US Growth Is Ending Morgan Stanley / Richard Berner

Businesses drowning in credit card debt Washington Post via Modesto Bee / Simone Baribeauthe

Retailers May Flunk Back-to-School as Costs Soar, Sales Stall Bloomberg / Heather Burke and Zahra Burton

How The US Economy Resembles a (very) Big business pdf Federal Reserve Bank of Chicago / Jeffrey R. Campbell

Federal Reserve Events Reuters

Treasuries trim losses after 10-yr note auction Reuters

U.S. Subprime Loan Crisis and Japanese Credit Markets Pimco / Koyo Ozeki

Wall St recovers on lower oil, tech bounce Reuters

Stocks Turn Green In Midday Trading Smartmoney.com / Vincent Mao

The dollar on the comeback trail CNN / Paul R. La Monica

Yen Falls to Lowest Since January on `Deteriorating' Economy Bloomberg / Ye Xie

Oil tumbles on surprise jump in supply CNN / Catherine Clifford

U.S. crude supply up 1.7 million barrels last week Marketwatch / Myra P. Saefong

Fed Wisely Chose to Avoid Making Risky Choice Bloomberg / John M. Berry

Fed, 'boxed into a corner,' keeps rates steady San Francisco Chronicle / Sam Zuckerman

Wage/Price Fixation Is Spiraling Out of Control Bloomberg / Caroline Baum

Homeowners delusional on value of property San Francisco Chronicle / James Temple

U.S. 10-Year Notes Decline Before Biggest Auction Since 2003 Bloomberg / Sandra Hernandez and Dakin Campbell

Freddie Mac Posts Loss, Cuts Dividend as Housing Slump Deepens Bloomberg / Dawn Kopecki

Wednesday’s Stocktiming.com Analysis Stocktiming.com / Marty Chenard

Freddie drags down stocks CNN / Alexandra Twin

Big Three face bankruptcy fears CNN / Chris Isidore

Qwest quarterly profit falls 24 percent Reuters via Forbes

Sprint Nextel reports 2Q loss AP via Houston Chronicle / David Twiddy

Microsoft $20 Billion Buyback Signaled After Slump Bloomberg / Dina Bass

Nasdaq OMX profit rises 81% Marketwatch

The Looming Federal Default: Sooner or Later? Lew Rockwell / Gary North

Freddie CEO Feels Strain Of Firm's Twin Missions Washington Post / Jeffrey H. Birnbaum and David S. Hilzenrath

Crude Oil Falls a Third Day as Slowing Economies May Cut Demand Bloomberg / Nesa Subrahmaniyan

Baby, It’s Going to Be Cold Inside NY Times / Jad Mouawad

If oil is down a lot in price, why is gas down only a little? Orlando Sentinel / Steven Cole Smith

Catching the rally before reality sets in Marketwatch / Todd Harrison

Asian Stocks Rise First Day in Four on Oil; Toyota, Sony Gain Bloomberg / Chua Kong Ho

UK: Recession signalled by key indicators of British economy Independent / Sean O'Grady

UK: Credit crunch leaves consumers tightening the purse strings London Times / Steve Hawkes

08/07

The Fed Has Bias Toward Slower Economic Growth NY Post / John Crudele

Wall Street staggers CNN / Alexandra Twin

U.S. Stocks Tumble on AIG's Loss, Wal-Mart's Sales Forecast Bloomberg / Elizabeth Stanton

Confessions of a risk manager The Economist

US junk bond funds report $96 mln inflow-AMG Data Reuters

Bonds rally on weak economy, strong auction Reuters / John Parry

Wheat prices jump on bargain buying, crude rise AP via Houston Chronicle / Stevenson Jacobs

US mortgage rates fell 1/8 point Thursday-BestInfo Reuters

The new math of lending CNN / David Ellis

U.S. Consumer Credit Increases $14.3 Billion in June Bloomberg / Shobhana Chandra

Consumer debt jumps by $14 billion AP via CNN

Pending Home Resales in U.S. Unexpectedly Rose 5.3% Bloomberg / Timothy R. Homan

Delinquencies for 2007 mortgages outpacing 2006: report Reuters

U.S. July Retail Sales Slow, Threatening Back-to-School Season Bloomberg / Heather Burke

Jobless claims rise to highest since March 2002 AP via Seattle Times / Jeannine Aversa

U.S. Stocks Retreat on AIG's Loss, Wal-Mart's Sales Forecast Bloomberg / Elizabeth Stanton

Thursday’s Stocktiming.com Analysis Stocktiming.com / Marty Chenard

Blockbuster loss widens in 2Q AP via Houston Chronicle

Sara Lee swings to 4th-quarter loss on charges AP via San Francisco Chronicle

Lenovo says quarterly profits up 65 percent AP via San Francisco Chronicle

Defaults on Junk Bonds May Reach 10% as Economy Slows Bloomberg / John Glover

Not Even 2% Fed Funds Help Munis Amid Record Rates Bloomberg / William Selway and Martin Z. Braun

CDO Market Is Dead, Not Just Pining for Fjords Bloomberg / Mark Gilbert

Oil prices rise after pipeline fire in Turkey AP via Houston Chronicle / Stevenson Jacobs

ECB holds rates, says growth risks materialize Reuters / Marc Jones

Commodities plunge shows it was hot money all along Marketwatch / David Callaway

South Florida personal bankruptcies nearly double from just a year ago South Florida Sun Sentinel / Marcia Heroux Pounds

States adopt bold anti-poverty measures Stateline.org / Christine Vestal

U.S. Pending Home Sales Probably Fell for Fourth Time This Year Bloomberg / Timothy R. Homan

FL: Tempest for a Bank That Bet on Risky Loans NY Times / Geraldine Fabrikant

Hedge funds don't live up to their own hype Marketwatch / David Weidner

Panel Calls for New Risk Standards At Wall St. Firms Washington Post / Heather Landy

Treasuries Rise Before Pending Home Sales, 30-Year Bond Sale Bloomberg / Wes Goodman

Nader, still in the presidential ring, sees in Obama a decline in ‘fortitude’ Christian Science Monitor / David Cook

Parking the Leasing Lifestyle Washington Post / Michelle Singletary

Long-time bear joins bulls Marketwatch / Peter Brimelow

Sprint Puts Positive Spin on Losses NY Times / Laura M. Holson

Asian Stocks Drop on AIG; Chuo Mitsui, Neptune Fall on Earnings Bloomberg / Patrick Rial and Kyung Bok Cho

Yen Rises on Speculation Japanese Exporters Buying the Currency Bloomberg / Kosuke Goto and Stanley White

Global Economy `Close' to Recession in 2009, UBS Says Bloomberg / Shamim Adam

Bank of Korea Raises Rate to 5.25% to Curb Inflation Bloomberg / William Sim

ECB, BoE seen leaving rates unchanged Thursday AP via Washington Post / George Frey and Jane Wardell

UK: Surge in food prices leaves Bank little room for manoeuvre Independent / James Thompson

IMF warns that UK is on the brink of recession Telegraph / David Litterick and Angela Monaghan

Japan Machine Orders Declined Less-Than-Expected 3.9% in June Bloomberg / Jason Clenfield

EU: Defaults Set to Rise in Europe a Year After Credit Crunch Began Bloomberg / John Glover

08/08

Oil's drop: Has bubble burst? Houston Chronicle / Kristin Hays

Greenspan Says Federal Company Would Best Ease Crisis Bloomberg / Vivien Lou Chen

In Their Various Ways, Economists Try to Find Right Price for a Home NY Times / Catherine Rampell

S.F. condominium sales strong in recent months San Francisco Chronicle / James Temple

A Threat of Recession for Economies of Europe NY Times / Floyd Norris

Barclays Chief Says Worst of Crisis Is Over NY Sun / Philip Aldrick

Pieces might be in place for dollar to sustain gains Marketwatch / Lisa Twaronite

$1 trillion in losses? Bank on more CNN / Paul R. La Monica

Crude's Pain Is Wall Street's Gain Forbes / Steve Schaefer

Dow soars 300 points as oil prices tumble LA Times / Walter Hamilton

As the loonie falls: 'It's our turn now' Globe and Mail / Tavia Grant

Euro Falls the Most in 8 Years on Reduced Bets for Higher Rate Bloomberg / Ye Xie and Anchalee Worrachate

The Price Is the Same; It’s the Size That Shrinks NY Times / M.P. Dunleavy

Realtors happy with seasonal sales uptick Newsday / Ellen Yan

Mortgage Rates, Down for So Long, Are Creeping Back Up and Crimping Affordability NY Times / Tara Siegel Bernard

Commodities Fall to Four-Month Low on Dollar's Jump, Economy Bloomberg / Claudia Carpenter

Fed's "options" auction starts later this month AP via Forbes

Oil sinks more than $4 as dollar rallies CNN / David Goldman

Copper, Oil Lead Drop in Commodities on Dollar, Reduced Demand Bloomberg / Claudia Carpenter

Oil slips below $116 a barrel AP via Globe and Mail / Madlen Read

U.S. Stocks Rise, Led by Home Depot, Macy's as Oil Extends Drop Bloomberg / Elizabeth Stanton

Friday’s Stocktiming.com Analysis Stocktiming.com / Marty Chenard

Mortgages get more expensive – again CNN / Les Christie

Fannie's Paper Problems Drive Loss Forbes / Maurna Desmond

U.S. Economy: Productivity Increases as Firms Reduce Employment Bloomberg / Shobhana Chandra

CFOs Still Glum About Economy CFO.com / Kate Plourd

The American Dream is Just That Euro Pacific via Safehaven / Peter Schiff

MBIA earnings jump, but downgrades weigh Reuters via Forbes

New York Mean Streets Deal Death to Curiosity Shops Bloomberg / Joe Mysak

Euro Falls the Most in 8 Years on Reduced Bets for Higher Rate Bloomberg / Ye Xie and Anchalee Worrachate

Dollar roars to five-month high AP via CNN

Money Market `Plagued' by Libor That Fed Can't Reduce Bloomberg / Gavin Finch

Australian Dollar Extends Loss to Longest Since 1980 on Rates Bloomberg / Candice Zachariahs

08/09

Naked Came the Speculators NY Times / Gretchen Morgenson

Crisis Averted. What of the Next One? NY Times / Robert J. Shiller

OECD sees slower economic growth BBC News

Bank Failures Have Customers Seeking FDIC Protection Bloomberg / Jeff Plungis

Gas prices fall: 23 days and counting CNN

Stocks look to build on oil, dollar-induced gains Marketwatch / Nick Godt

Berkshire Net Falls 7.6% to $2.88 Billion as Insurance Slumps Bloomberg / Josh P. Hamilton and Erik Holm

A New Asset Class, Part Two Thoughts From The Frontline via Safehaven / John Mauldin

TIPS Show Inflation Expectations at Lowest Level in Five Years Bloomberg / Dakin Campbell

Fannie Mae losses rock housing market AP via Tennessean / Alan Zibel

European Bonds Post Third Weekly Gain on Outlook for ECB Rates Bloomberg / Lukanyo Mnyanda

U.S. Stocks Post Biggest Weekly Rally Since April on Oil Slump Bloomberg / Lynn Thomasson

Euro Falls to Six-Month Low as Rate Increase Expectations Fade Bloomberg / Ye Xie and Candice Zachariahs

08/10

Critics seek halt to state sales tax holidays amid lousy economy; some say families need them AP via Chicago Tribune / Juanita Cousins

Sales Probably Dropped, Prices Climbed: U.S. Economy Preview Bloomberg / Bob Willis

Consumer spending heading for a fall Marketwatch / Rex Nutting

Economy may be "new," but it's hardly improved Seattle Times / Jon Talton

Oil Down, Stocks Up; But Don't Bet on It Wall Street Journal / Gregory Zuckerman

Icahn’t Win Them All NY Post / Zachery Kouwe and Kaja Whitehouse

Why It's Getting Hard to Lease a Car Wall Street Journal / Nathan Becker

Paulson vows to resign in January Marketwatch / Michael Kitchen

Obama Tax Plan Would Balloon Deficit, Analysis Finds Washington Post / Lori Montgomery

A Familiar Tax Tune, but It’s Not Mine NY Times / Ben Stein

Paulson Says No Plans to Add Cash to Fannie, Freddie Bloomberg / John Brinsley

FHA ready to assist immediately Pittsburgh Tribune Review / Ron DaParma

Help for Seniors Who Have Reverse Mortgages Washington Post / Michelle Singletary

Lenders abandoning private student loans Following student loan rules help borrowers make the grade Chicago Tribune / Carolyn Bigda

Slow Economy Puts Value Investing to the Test Washington Post / Nancy Trejos

More failures likely but not on IndyMac scale San Diego Union Tribune / Mike Freeman

Dollar Bulls, Bears Both Expect Rampage Against Euro to Falter Bloomberg / Ye Xie and Anchalee Worrachate

08/11

Fed rate moves most benefit ... the government? Marketwatch / Irwin Kellner

In California, foreclosure's next wave? Christian Science Monitor / Ben Arnoldy

Fluor 2Q profit more than doubles AP via Dallas Morning News

Give yourself a raise - with a few spending cuts Dallas Morning News / Scott Burns

Gasoline prices may continue to drop as low as $3.50 USA Today / Barbara Hagenbaugh

International Economic Update Federal Reserve Bank of Dallas

Fed says banks broadly tighten U.S. loan standards Reuters / David Lawder

Federal Reserve finds deepening credit crisis AP via San Diego Union Tribune / Martin Crutsinger

Back to Berra Pimco / Michael Gomez

America needs a 'Good Depression' Marketwatch / Paul B. Farrell

Retailers' 2Q results may not be as bad as thought AP via Contra Costa Times / Anne D’Innocenzio

In slow real estate market, buyer's agents get a boost Newsday / Ellen Yan

NV: Fewer people paying Vegas a visit Las Vegas Sun / Liz Benston

TREASURIES-Losses widen as crude oil slips, stocks rise Reuters / Ellen Freilich

Crude Oil Falls to a 14-Week Low on U.S. Economic Slowdown Bloomberg / Mark Shenk

Fannie sinks on downgrade CNN / David Goldman

Stocks Jump As Oil Turns Lower Investors Business Daily / Vincent Mao

Health care costs seen rising 10 percent in 2009 AP via Seattle Times / Tom Murphy

Monday’s Stocktiming.com Analysis Stocktiming.com / Marty Chenard

FDIC Fund Strained by Bank Failures May Have to Raise Premiums Bloomberg / Alison Vekshin

UBS's Clients Pull Funds as Securities Losses Mount Bloomberg / Elena Logutenkova

Mood improves on Wall Street CNN / Aaron Smith

China shares fall to 19-month low AP via CNN

Greenspan's `Age of Froth' Is Over for Decade Bloomberg / John F. Wasik

Gold futures extend losses in early trade Marketwatch / Polya Lesova

Gas price decline: Day 25 CNN / Kenneth Musante

Relief for consumers: prices falling Christian Science Monitor / Ron Scherer

Slept Through Rice Age, Awoke to Commodity Bear Bloomberg / Caroline Baum

Asset-Backed Bond Sales Drop to Lowest in Decade, Deutsche Says Bloomberg / Neil Unmack

Treasuries Little Changed Before Reports on Inflation, Sales Bloomberg / Dakin Campbell and Gavin Finch

Russia has the upper hand The Economist

Conflict deters Russia investors BBC News

Bonds Show Inflation Peaks as Commodity Rally Stalls Bloomberg / Anchalee Worrachate and Theresa Barraclough

Bond Vigilantes Who Gave Bush a Pass May Ambush Obama or McCain Bloomberg / Matthew Benjamin

Credit unions hit by mortgage-market problems: report Reuters

Stocks set for muted open CNN

Stocks in Europe, Asia Rise, Led by BMW; U.S. Futures Advance Bloomberg / Adria Cimino

Economic Slump in U.S. to Worsen as Consumers Get `Squeezed' Bloomberg / Timothy R. Homan and Alex Tanzi

Dollar cools after last week's rally Marketwatch / Steve Goldstein

Dollar Bottom Against Yuan Gets Louder in China Bet Bloomberg / Wes Goodman and Kim Kyoungwha

Dollar Gain Signals Pain as Rally Prompts Exit From Bull Trade Bloomberg / Ye Xie and Anchalee Worrachate

Oil near $117 in Asia on Russia-Georgia conflict AP via Houston Chronicle / Alex Kennedy

World Economy Less Vulnerable To Petrodollars Forbes / Oxford Analytica

U.K. Producer Prices Rise by Most Since at Least 1986 Bloomberg / Brian Swint

China Trade Surplus Grows; Producer Prices Climb 10% Bloomberg / Nipa Piboontanasawat and Kevin Hamlin

08/12

There’s a kernel of hope for food-price relief AP via Kansas City Star / Christopher Rugaber

JPMorgan shares tumble on widening 3Q losses AP via NY Daily News

Stage two of the gold bull market is just beginning Telegraph / Ambrose Evans-Pritchard

China set to surpass U.S. as top manufacturer Marketwatch / Polya Lesova

Wachovia's commercial loans stir worries Marketwatch / Alistair Barr

Fed still worried about inflation despite oil retreat Reuters / Pedro Nicolaci da Costa

Federal Reserve will offer $50 billion in 28-day credit through its Term Auction Facility today Federal Reserve Board

Review and Preview Morgan Stanley / Ted Wieseman

Treasurys advance on worries about credit market AP via Houston Chronicle / Joe Bel Bruno

Oil price forecast for '09 gets a trim CNN / Ben Rooney

Crude drops $1.44 to settle at $113.01 AP via Houston Chronicle / Madlen Read

Stocks fall sharply amid financial sector concerns AP via Forbes / Joe Bel Bruno

Treasuries Gain as Credit-Market Losses Boost Debt's Appeal Bloomberg / Dakin Campbell and Gavin Finch

U.S. set for second-largest corn crop AP via Globe and Mail

Oil falls below $113 a barrel on demand deceleration Marketwatch / Polya Lesova and Myra P. Saefong

Wachovia's Woes Worsen CFO.com / Stephen Taub and Roy Harris

Dollar gain continues after trade deficit shrinks AP via Seattle Times / Tali Arbel

CA: Price report: No housing floor yet Contra Costa Times / George Avalos

The next wave of mortgage defaults CNN / Les Christie

U.S. Stocks Fall on Banking Concern; JPMorgan, Goldman Retreat Bloomberg / Lynn Thomasson

Tuesday’s Stocktiming.com Analysis Stocktiming.com / Marty Chenard

Thomson Reuters 2Q profit slides 54 percent AP via Houston Chronicle / Jeremy Herron

Embattled UBS restructures as rich clients flee Reuters / John O'Donnell and Sam Cage

UBS: United No Longer Forbes / Vidya Ram

Citi, UBS, Merrill Say `Oops' on Auction Freezeout Bloomberg / Joe Mysak

Upcoming CPI Number May Have A Crude Reality NY Post / John Crudele

Trade deficit narrows in June CNN / Lara Moscrip

Many U.S. Homeowners Owe More Than House Is Worth, Zillow Says Bloomberg / Bob Ivry

Wachovia’s sale of bonds probed Boston Herald / Jay Fitzgerald

Fair is fair -- except with the shorts Marketwatch / David Weidner

U.S. Trade Gap Probably Widened as Cost of Imported Oil Soared Bloomberg / Courtney Schlisserman

Oil falls below $114 in Asia on stronger dollar AP via Washington Post / Alex Kennedy

Gold, Platinum, Silver Drop to Lowest in More Than Seven Months Bloomberg / Glenys Sim and Dave McCombs

Sovereign Funds Become Big Speculators Washington Post / David Cho

Dollar hits 6-month high on global economic worries Reuters via Guardian / Rika Otsuka

Taking Home the Gold Daily Standard / Irwin M. Stelzer

Treasuries Little Changed; Commodities Slide May Curb Inflation Bloomberg / Wes Goodman

Asian Stocks Drop, Led by Commodities Producers, on Gold, Oil Bloomberg / Patrick Rial

Australian Dollar Falls to 6 1/2-Month Low; N.Z. Dollar Drops Bloomberg / Ron Harui and Candice Zachariahs

UK: Inflation set to hit 5 per cent as goods prices surge London Times / Gary Duncan

Japan's Wholesale Inflation Rate Reaches 27-Year High Bloomberg / Mayumi Otsuma

08/13

Energy Prices and Where We Live and Work Federal Reserve Bank of Chicago / William Testa

Treasury prices decline on inflation worries AP via Houston Chronicle / Madlen Read

Moody's lowers General Motors credit rating Detroit News

Oil settles nearly $3 up on tighter gasoline supplies AP via Houston Chronicle / Stevenson Jacobs

Russia's Strike Shows The Power Of the Pipeline Washington Post / Steven Pearlstein

Oil Prices Rebound, But Focus Remains On Weaker Demand Investors Business Daily / Alan R. Elliott

Americans cut driving by 4.7 percent in June, DOT says Detroit News / David Shepardson

The Great Gold Robbery of 1933 Ludwig von Mises Institute / Thomas E. Woods, Jr.

More fund managers eyeing global recession Marketwatch / Sarah Turner

Mortgage Applications Decrease Slightly In Latest MBA Weekly Survey Mortgage Bankers Association

Greenspan sees house price bottom in 2009: report Reuters

SEC short selling rule made little impact: studies Reuters / Emily Chasan

Stocks slide for second session CNN / Alexandra Twin

Falling oil prices have lifted airline’s share prices. Is the crisis over? The Economist

Inside Job Forbes / Liz Moyer

Wal-Mart to invest $1bn in Brazil BBC News

Nickel, Wheat Lead Biggest CRB Commodity Index Gain Since June Bloomberg / Millie Munshi

Electric bikes are all the rage in China The Economist

Why the buck stops here Fortune via CNN / Colin Barr

It's Too Soon to Toast the End of Credit Crisis Bloomberg / Caroline Baum

Wall St extends losses as oil rallies Reuters

Wednesday’s Stocktiming.com Analysis Stocktiming.com / Marty Chenard

Macy's posts 2Q profit decline Chicago Tribune

U.S. Retail Sales Fall for First Time in Five Months Bloomberg / Bob Willis

U.S. Business Inventories Up 0.7% in June, Sales Rise Bloomberg / Shobhana Chandra

Oil rises after surprise drop in crude supplies AP via Houston Chronicle / Stevenson Jacobs

U.S. mortgage applications declined last week-MBA Reuters

FL: In a down economy, some Florida college students have found a new form of financial aid: food stamps Miami Herald

Dollar up despite retail data; soars vs. pound AP via Seattle Post Intelligencer / Tali Arbel

U.K. Pound Falls to 22-Month Low as BOE Slashes Growth Forecast Bloomberg / Kim-Mai Cutler and Andrew MacAskill

Securities Market Remains Jammed, a Year Later NY Times / Vikas Bajaj

Treasuries Little Changed; Yields Near 1-Month Low Lose Appeal Bloomberg / Wes Goodman

Bank Failures Rise but Critics Say Not Fast Enough Washington Post / Binyamin Appelbaum

Olympics and stocks don't mix Marketwatch / Mark Hulbert

Of myths and markets Marketwatch / Todd Harrison

Retail Sales in U.S. Probably Dropped in July as Gasoline Rose Bloomberg / Bob Willis

Yen Rises to 12-Week High Against Euro as Carry Trades Pared Bloomberg / Stanley White and Ron Harui

UK inflation exceeds Bank interest rate for first time since 1981 Telegraph / Edmund Conway

Asian Stocks Decline After Subprime Losses Top $500 Billion Bloomberg / Patrick Rial

Australian Consumer Sentiment Rises 9.1% on Fuel Drop Bloomberg / Victoria Batchelor

Japan Economy Shrinks 2.4%, Signaling Recession Looms Bloomberg / Jason Clenfield

08/14

Financial sector probably won't lead the next bull market Marketwatch / Mark Hulbert

Gas fuels inflation - little relief in sight CNN / Steve Hargreaves

Stocks up 82 points after two days of losses AP via Sara Lepro

Florida's budget shortfall may hit $1.2B Miami Herald / Marc Caputo

MI: Foreclosures continue to rise across mid-Michigan Lansing State Journal / Barbara Wieland

Bonds rally as dealers look beyond inflation Reuters / Pedro Nicolaci da Costa

Global junk bond default rate up to 1.79 pct - S&P Reuters / Dena Aubin

Kicked in the ARS Economist via CFO.com

Repercussions from the Financial Shock Federal Reserve Bank of Minneapolis / Gary H. Stern

Fed's Stern says U.S. slowdown could be lengthy Reuters / Ros Krasny

Firm Entry and Labor Market Dynamics Federal Reserve Bank of Atlanta / Enchuan Shao and Pedro Silos

America The Old Forbes / Joshua Zumbrun

McCain says happy to talk up stronger dollar Reuters

Report on oil prices is flawed, senators say AP via CNN

U.S. Stocks Rise as Fannie Mae, Freddie Mac Spur Bank Rally Bloomberg / Lynn Thomasson

Wal-Mart Earnings Rise 17%; Kohl's, Nordstrom Decline Bloomberg / Chris Burritt and Cotten Timberlake

Banks' Balance Sheets Are Squeezed From Both Sides Barrons.com / Randall W. Foster

An Introduction to the FDIC’s Small-Dollar Loan Pilot Program pdf FDIC

Bank Funds Lure Most Money, Post Steepest Declines Bloomberg / Elizabeth Stanton

Of Disasters, Recessions, Crunches and Busts Morgan Stanley / Joachim Fels

UK Inflation Report Broadly Consistent with Rates on Hold View Morgan Stanley / Melanie Baker

Gold futures fall as traders eye dollar, oil Marketwatch / Polya Lesova and Myra P. Saefong

Reserve's Bent: Crisis near bottom; Bear "sacrificed" Reuters / Walden Siew

U.S. Treasuries Rise as Initial Jobless Claims Exceed Forecasts Bloomberg / Dakin Campbell and Daniel Kruger

SIFMA Designates Pools Containing Higher Balance Loans as TBA-Eligible SIFMA

Realtors move to set up statewide MLS San Francisco Chronicle / Carolyn Said

Jumbo Rates May Fall as Larger Mortgages Enter Market Bloomberg / Jody Shenn

Indexes Come About On Financials, Telecoms Investors Business Daily / Alan R. Elliott

MI: State jobless rate remains at 8.5 percent Lansing State Journal / Jeremy W. Steele

Dollar rises vs. euro as Europe economy shrinks Marketwatch / Steve Goldstein and Moming Zhou

Growing more colourful The Economist

U.S. Stocks Rise as Fannie Mae, Freddie Mac Spur Bank Rally Bloomberg / Lynn Thomasson

Wal-Mart profit up 17 percent Reuters / Nicole Maestri

Thursday’s Stocktiming.com Analysis Stocktiming.com / Marty Chenard

U.S. 30-year mortgage rates unchanged in latest week Reuters

U.S. Home Sales Fall to 10-Year Low as Prices Tumble Bloomberg / Kathleen M. Howley and Dan Levy

Housing Rebound in Cleveland Signals Bad News for U.S. Market Bloomberg / Brian Louis and Kathleen M. Howley

U.S. Economy: Consumer Prices Rise More Than Forecast Bloomberg / Shobhana Chandra

U.S. Jobless Claims Fell Less Than Forecast Last Week Bloomberg / Courtney Schlisserman and Shobhana Chandra

There’s a deafening quiet from the Federal Reserve NY Post / John Crudele

Federal Reserve Events Reuters

Credit-Crunch Villains Should Own Up, Do Penance Bloomberg / Mark Gilbert

Oil waffles as traders search for a direction AP via Houston Chronicle / George Jahn

Europe's economies are suffering more than the American one The Economist

Recession Knocks On Europe's Door Forbes / Parmy Olson

Whoops, there goes our profit Marketwatch / David Weidner

Treasuries Are Little Changed; Report May Show Inflation Slowed Bloomberg / Aaron Pan

Mortgage Insurers' Losses Mount Washington Post / Renae Merle

Housing Recovery Act Depends on Banks to Refinance Mortgages Bloomberg / Sharon L. Lynch

US foreclosure filings surge 55 percent AP via Washington Post / Alan Zibel

Adens still commodious to commodities Marketwatch / Peter Brimelow

Outlook for the S&P 500: Over 10 years, it's mostly up USA Today / Matt Krantz

Merrill May Cut Dividend for First Time, Options Traders Say Bloomberg / Bradley Keoun and Jeff Kearns

Asian Stocks Drop for a Third Day, Led by Tokyu Land; BHP Gains Bloomberg / Chen Shiyin and Patrick Rial

Dollar up for 10th day on souring global outlook Reuters via Guardian

Euro Falls Before Report Forecast to Show Economy Contracted Bloomberg / Stanley White

Bank of England: Britain is heading for recession Independent / Sean O’ Grady

Europe Economy Probably Shrank for First Time Since Euro Debut Bloomberg / Fergal O'Brien

China Industrial-Output Growth Slows on Export Orders Bloomberg / Nipa Piboontanasawat

08/15

Citigroup, UBS Settle With `Gossip Girl' Investors Bloomberg / Joe Mysak

Breaking up big banks questioned as losses mount AP via Seattle Post Intelligencer / Joe Bel Bruno

Chicago Fed's Evans says risks to growth increased since June FOMC meeting Thomson via Forbes

Fed officials fret on growth, point to rate hold Reuters / Ros Krasny

The Myth of the Independent Fed Lew Rockwell / Thomas J. DiLorenzo

Auction-rate settlements leave investors hanging Marketwatch / Sam Mamudi

The Strong Dollar Illusion Euro Pacific via Safehaven / Peter Schiff

The Downturn Is Good News Lew Rockwell / Llewellyn H. Rockwell, Jr.

Inflation Research as Propaganda Lew Rockwell / Per Bylund

Small-business owners' outlook bleak CNN / Emily Maltby

Let The Sun Shine Forbes / Andy Stone

U.S. Stocks Climb on Lower Commodities; Wal-Mart, Ambac Rise Bloomberg / Lynn Thomasson

Chicago Tribune trims 14% of news staff AP via San Diego Union Tribune / Jeremy Herron

CA: Median home price in Santa Cruz County for July: $607,500 Santa Cruz Sentinel / Jondi Gumz

Sir Alan's Follies Washington Post / Steven Pearlstein

Dollar rallies on output data, European economies Marketwatch / Steve Goldstein & Moming Zhou

Morgan Stanley Tapped To Assess Fannie, Freddie Washington Post / Jeffrey H. Birnbaum and David Cho

U.S. Treasuries Head for Weekly Gain on Speculation Fed on Hold Bloomberg / Dakin Campbell and Gavin Finch

Stocks Little Changed In Midday Trade Investors Business Daily / Vincent Mao

Gold drops 8.4%, silver falls 16.4% for the week Marketwatch / Myra P. Saefong

Oil falls to $111 level on stronger US dollar AP via NY Daily News / Stevenson Jacobs

Gold's resilient properties lie in question Marketwatch / Myra P. Saefong

Giant solar project in California rivals coal plant Marketwatch / Steve Gelsi

California unemployment rate jumps to 7.3 percent AP via San Francisco Chronicle

Dollar's prospects may be brighter after long drop AP via Seattle Post Intelligencer / Emily Flynn Vencat

Crude's Slide Greases A New Bull Forbes / Martin T. Sosnoff

Friday’s Stocktiming.com Analysis Stocktiming.com / Marty Chenard

Penney's 2Q profit falls 36% Dallas Morning News / Maria Halkias

Buyers jump through hoops for a mortgage Chicago Tribune / Susan Diesenhouse

It's simple: More jobs = more homes Chicago Tribune / Mary Umberger

Derivatives Signal TAF Expansion Fails to Loosen Money Markets Bloomberg / Liz Capo McCormick

Citigroup, UBS Settle With `Gossip Girl' Investors Bloomberg / Joe Mysak

TREASURIES-Prices advance on outlook for lower inflation Reuters

Gauge of future US economic growth at 5-year low-ECRI Reuters

U.S. Michigan Consumer Sentiment Index Rose in August Bloomberg / Timothy R. Homan

July industrial output better than expected AP via CNN

NYMEX may have numbers for CME takeover NY Post / Zachery Kouwe

Wall Street's Jobless Try Cupcakes, Cheap Haircuts, Maybe Omaha Bloomberg / Caroline Salas and Pierre Paulden

Gold, Oil Slump, Leading Commodities Drop on Dollar, Growth Bloomberg / Feiwen Rong and Chanyaporn Chanjaroen

Oil sinks as global economy slows CNN / Kenneth Musante

Sterling continues to lose ground BBC News

Dollar Heads for Fifth Weekly Gain on Oil Drop, Global Slowdown Bloomberg / Ye Xie and Anchalee Worrachate

Mexico Bank Lifts Key Rate for Third Month in `Preemptive' Move Bloomberg / Jens Erik Gould

Ex-Fed chief Alan Greenspan attacks Fannie and Freddie bail-out Telegraph / James Quinn

American and British Airways Plan an Alliance NY Times / Micheline Maynard

Treasuries Little Changed; Yields Near 4-Week Low Erode Demand Bloomberg / Wes Goodman

Oil Falls on Signs Decline in Fuel Demand Will Spread Globally Bloomberg / Christian Schmollinger

Home Equity Frenzy Was a Bank Ad Come True NY Times / Louise Story

Dollar Heads for Weekly Gain Before Consumer Confidence Data Bloomberg / Stanley White

Dollar hits 6-month high versus euro on growth worry Reuters via Guardian

Downtowns across the U.S. see streetcars in their future NY Times via Denver Post / Bob Driehaus

Eurozone teeters on the edge of first-ever recession Independent / Sean O'Grady

China's Factory, Property Spending Growth Quickens Bloomberg / Kevin Hamlin and Nipa Piboontanasawat

Gold Drops Below $800 an Ounce in Asia as Dollar May Advance Bloomberg / Dave McCombs

Aussie Dollar Falls for 4th Week on Lower Commodities, Rates Bloomberg / Candice Zachariahs

BOJ May Keep Key Rate at 0.5% After Economy Shrank Bloomberg / Mayumi Otsuma