A Recent FT Story on the Worldwide Equity Fiasco
Monday, January 21st, 2008http://www.ft.com/cms/s/0/604d71dc-c853-11dc-94a6-0000779fd2ac.html
Archive for January, 2008
http://www.ft.com/cms/s/0/604d71dc-c853-11dc-94a6-0000779fd2ac.html
Equity Futures Plunge (Part Two)
Monday, January 21st, 2008Equity futures closed very weak and the S and P futures finished down about 60 points. I am a humble bond jockey but if I extrapolate directly to the Index opening in New York tomorrow that will send the equity markets back to levels which prevailed in the summer of 2006. A ...
Monday, January 21st, 2008
Via the FT here is a story of a novel mechanism employed by one company to alter the behavior of employees. A little financial inducement will cure many woes.
Epiphany
Monday, January 21st, 2008The financial markets in the US are closed today but that has not prevented equity markets around the globe from falling in response to the realization the the US economy is sliding into recession. The Wall Street Journal reports declines of 4percent in Tokyo trading and 5.5percent in Hong Kong. The Financial ...
January 18 2008 Recap
Friday, January 18th, 2008Prices of Treasury coupon securities pushed higher today in an abbreviated session at the start of the Martin Luther King holiday weekend.The 2year note reached a new low for this cycle and yields 2.35 percent currently. The 2year/10year spread continues to widen and it sits at a cycle high of ...
Consumer Confidence Confidence Connotes Consumer not Comatose
Friday, January 18th, 2008Consumer confidence jumped t 80.5 in the preliminary January reading from 75.5 in December. The index had declined the prior to months. It is hard to reconcile that jump with the turmoil in the financial world. Only time will tell if Wall Street has this right or if the man ...
Chess Champion
Friday, January 18th, 2008The New York Times reports the passing of the greatest American chess player,Bobby Fischer. When he won the championship from Russian Boris Spaasky in 1972 it was a major event Cold War happening. At age 13 he played a game against a grandmaster adult which has been dubbed the "Game of ...
TGIF
Friday, January 18th, 2008Prices of Treasury coupon securites are posting modest losses in overnight trading with yields on benchmark Treasury paper rising between 3basis points and 4basis points. The 2year/10year spread is 122.5 basis points. Treasury bond prices have slipped as the futures markets posit a solid rebound for equities from the steep losses ...
January 17 2008 Recap
Thursday, January 17th, 2008Prices of Treasury coupon securities surged today as the weakness in the Philadelphia Fed Index of Manufacturing and weakness in the Housing Starts report combined to heighten concerns that the economy is in or is about to be in a recession. Yields on benchmark Treasury securities are posting new lows ...
Miscellany
Thursday, January 17th, 2008The SIV bid list which was circulating through the market earlier in the day brings to mind the Kubler-Ross model of dealing with grief and tragedy. The final stage is acceptance and that would appear to be the case here. It is the adult approach to the problem and will ...