Archive for February, 2008
Monday, February 25th, 2008
Prices of Treasury coupon securities tumbled today as the prospect of an Ambac rescue and a reaffirmation of the AAA rating of MBIA lessened the appeal of riskless assets. Supply from other markets caused a little dyspepsia for the Treasury market,too. As yields drifted higher I heard of outright selling ...
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Monday, February 25th, 2008
S and P has removed MBIA from creditwatch and reaffirmed their AAA rating with a negative outlook. And on the seventh day the Lord rested.
Stocks are posting sharp gains and the risk free Treasury 10 year has been humbled. The 10 year Treasury is yielding close to 3.90 percent as ...
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Monday, February 25th, 2008
Today is the day when the faithful remnant of subprime traders pores over the remittance reports to get some sense of the worth or lack thereof in their subprime holdings. Basically ,it was more of the same with delinquencies rising and prepay speeds slowing.
The 06-1 structures had been a bit ...
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Monday, February 25th, 2008
Corporate bond spreads opened the day tighter by 3 basis points to 4 basis points as the residue of hope for a happy ending to the monoline insurance problem persisted over the weekend and in equity markets overseas. Those gains faded on a story that Goldman Sachs had issued a ...
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Monday, February 25th, 2008
Sales of Existing homes dropped less than expected and there was a slight upward revision to the previous months data. Last month was originally reported at 4.89k and that has been revised to 4.91K. Sales in January totalled 4.89K down slightly from the revised data and above the consensus forecast ...
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Monday, February 25th, 2008
Prices of Treasury coupon securities are sagging in overnght trading as strength in overseas equities market diminishes the safe haven allure of Treasuries. The market is still hopeful of a salutary conclusion to the tribulations of the monoline insurers and awaits some resolution to that ongoing saga. So at the ...
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Monday, February 25th, 2008
Ambac inches closer to a deal says the WSJ.
TAF collateral.
An ugly echo of the most discordant of all years in recent American political history, 1968.
Ebullient equities enthuse European investors.
Posted in Uncategorized | Comments Off on Some Monday Morning News
Sunday, February 24th, 2008
Confidence slumps in New Zealand, too.
An interesting take on the Turkish invasion of Iraq.
I guess this is good news.
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Sunday, February 24th, 2008
The ABX market received a battering in late trading on Friday. The day in most markets was quiet and as a result of the snow storm on the East Coast many players did not make it to their work stations or if they did they departed early for home and ...
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Friday, February 22nd, 2008
This story from the FT has a little more meat to it.
Posted in Uncategorized | Comments Off on More Ambac