UBS
Monday, May 26th, 2008This firm can not avoid continual trips to the financial " confessional".
Archive for May, 2008
This firm can not avoid continual trips to the financial " confessional".
Some Holiday Links
Monday, May 26th, 2008House prices in the UK remain in free fall. A Treasury Department official opines on the easing of the credit crunch. Higher prices has reduced the number of miles American drive. From Marginal Revolution via Calculated Risk
Bear/JPMorgan
Saturday, May 24th, 2008The bonds of this marriage melt during honeymoon period. Is not that often the result of a "shotgun" wedding?
Some Opening Comments May 23 2008
Friday, May 23rd, 2008Prices of Treasury coupon securities registered modest gains in overnight trading as bottom fishers perceived bargain prices after the sharp rise in yields yesterday. The yield curve experienced the classic parallel shift overnight as the yield on each of the benchmark Treasury issues declined by an identical 2 basis points. ...
Central Bank Success Story
Thursday, May 22nd, 2008Bank of Canada Governor Mark Carney suggests that in Canada the bank funding crisis has eased significantly.
Recap May 22nd 2008
Thursday, May 22nd, 2008Prices of Treasury coupon securities suffered significant deterioration today as the market participants grappled with a Federal Reserve on hold and gripped with angst about the risks of rising inflation. The yield on the 2 year note jumped 13 basis points to 2.54 percent. The yield on the benchmark 5 ...
Agency Recap
Thursday, May 22nd, 2008Agency spreads leaked a little wider today as the weight of supply dampened sentiment in that sector. Freddie Mac priced $4billion 2years and $4billion 5years yesterday and Home Loan is in the market for $3billion 3 years. So there is a little bit of a digestion and absorption issue in ...
Surplus Countries and Their Domestic Spending
Thursday, May 22nd, 2008Brad Setser's blog is in a new location. He is still writing the same insightful stuff he did before. I commend you to his discussion on the consequences of an increase in domestic spending by surplus countries. What happens if they look to shore up domestic demand or build domestic ...
Corporate Recap
Thursday, May 22nd, 2008The corporate bond market has experienced a sea change in the last two weeks and the mood now is somber and gloomy. One salesman with whom I converse regularly made several pithy comments. He noted that in the last several days he has actually had clients who had committed to ...
ABX
Thursday, May 22nd, 2008ABX bonds are engaged in a light sell off with AA and AAA tranches generally down about a point. Lower rated tranches are close enough to zero already so they can not fall too much!Participants in that market are focused on the various pieces of legislation wending their way through ...