Archive for January, 2008
Friday, January 11th, 2008
12:45 *MISHKIN SAYS MUST BE READY TO `TAKE BACK' INSURANCE AS NEEDED
12:45 *MISHKIN SAYS INFLATION EXPECTATIONS `REASONABLY WELL ANCHORED'
12:45 *MISHKIN SAYS FED STRATEGY IS AIMED AT `PROVIDING INSURANCE'
12:45 *MISHKIN SAYS FED `WILL CONTINUE TO ACT DECISIVELY' ON RATES
12:45 *FED'S MISHKIN SPEAKS ON `POLICY FLEXIBILITY' IN NEW YORK
12:45 *MISHKIN SAYS `PRONOUNCED ...
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Friday, January 11th, 2008
As mentioned earlier Goldman Sachs is bringing to market a new Benchmark 10year today. I suppose as is the case with many of these deals it will grow until demand is sated. The spread talk is +205 versus the 10year Treasury. As has been the custom of late that represents ...
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Friday, January 11th, 2008
The US trade deficit gapped wider in November to $63.1billion from $57.8billion in November. Economists who are paid to forecast this stuff had expected the deficit level to widen to $59.5billion,according to a Bloomberg survey. Much of the increase can be attributed to the insatiable American appetite for oil. Ian ...
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Friday, January 11th, 2008
I attach a Yahoo Finance story which describes the fall to new lows of something called the RBC cash Index. I have not heard of this one but it accurately captures the gloomy mood.
Separately, prices of benchmark treasury securities seem to have run out of steam for now . Maybe the ...
Posted in Uncategorized | Comments Off on An Arcane Measure of Consumer Confidence
Friday, January 11th, 2008
*BANK OF AMERICA TO BUY COUNTRYWIDE FOR ABOUT $7.16-SHARE
Bank of America-BAC to acquire Countrywide Financial-CFC for app
*BANK OF AMERICA DOESN'T SEE COMBINED COMPANY DOING ORIGINATIONS
*BANK OF AMERICA SAYS ORIGINATION OF SUBPRIME LOANS NOT PLANNED
*BANK OF AMERICA DOESN'T SEES ORIGINATION OF SUBPRIME LOANS
*BANK OF AMERICA SAYS ORIGINATION OF SUBPRIME LOANS ...
Posted in Uncategorized | Comments Off on Consumated
Friday, January 11th, 2008
Prices of Treasury coupon securities surged in overnight trading and the yield curve continued to steepen as signs of economic gloom precipitated another round of global equity market weakness. The NewYorkTimes is reporting that MerrillLynchwill take a $15billion loss in Q4 2007 ,far larger than originally anticipated. American Express added ...
Posted in Uncategorized | Comments Off on TGIF
Thursday, January 10th, 2008
Prices of Treasury coupon securities put in a mixed performance this day .The 2year note was the rock star and has registered a modest decline in yield of about 1basis point. As one moves along the x axis the carnage turns pretty ugly.The yield on the 10year has increased by about ...
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Thursday, January 10th, 2008
http://online.wsj.com/public/us
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Thursday, January 10th, 2008
That is the title of this blog and following the release of the text of the Bernanke speech there has been action across the curve. The curve is undergoing some severe adjustments as Mr Bernanke outlined a Federal Reserve which believes that the economic outlook has deteriorated and the outlook ...
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Thursday, January 10th, 2008
*BERNANKE SAYS JOBS DETERIORATION WOULD RAISE SPENDING RISK
*BERNANKE SAYS DECEMBER JOB DATA `DISAPPOINTING'
*BERNANKE `PREPARED' TO `ACT IN A DECISIVE AND TIMELY MANNER'
*BERNANKE SAYS `ADDITIONAL POLICY EASING MAY WELL BE NECESSARY'
*BERNANKE SAYS FED `PAYING PARTICULAR ATTENTION' TO HOUSING
*BERNANKE SAYS FED TO MONITOR INFLATION, PRICE EXPECTATIONS
Posted in Uncategorized | Comments Off on Bullish Ben