In the wake of the last five weeks' irrational exuberance its time to get real again. Via the Zack's investment blog, real estate giant Cushman & Wakefield reports office vacancies continue to rise around the country (out of 31 markets tracked, only one, Dallas, saw reduced vacancy). FT's Alphaville blog points out that CDS spreads for U.S. banks markedly widened on Tuesday, underscoring investor anxiety.In earnings news, Capital One (NYS: COF) missed earnings estimates by a wide margin and in its announcement, as pointed out by Zero Hedge, appears to be provisioning for roughly one-half the defaults that it previously said it was experiencing. Did all those defaults just disappear or is CapOne playing lose with write offs? At least those folks can still eat. VoxEU tells us that the global food crisis of last summer could recur to some degree, as global food prices remain stubbornly high.
Alex Salkever is the Director of Research at Piqqem.com, a stock research tool that aggregates crowd sentiment for accurate price predictions.
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