Archive for June, 2008
Monday, June 9th, 2008
On the personal side, I have been posting with less than my normal frenzy because my 86 year old father is very ill and he and my mother need my assistance. So I am acting to fulfill my filial responsibilites and to ease their burden. So I will post sporadically ...
Posted in Uncategorized | 4 Comments »
Sunday, June 8th, 2008
The FT on a speech that New York Fed President Geithner will deliver on Monday. The article also contains some interesting comments by a gentleman from the BIS who has the temerity to wonder if the rest of the world will continue to fund the US current account deficit at ...
Posted in Uncategorized | Comments Off on Geithner on Regulatory Reform
Friday, June 6th, 2008
Life intervenes today and blogging will be either light or non-existent.
Posted in Uncategorized | 5 Comments »
Friday, June 6th, 2008
Prices of Treasury coupon securities posted disparate results in overseas trading as the repercussions of the statement yesterday by ECB grand poohbah and President, Jean Claude Trichet , resonated with investors around the globe. The ECB head had noted yesterday that the ECB might raise rates at its July meeting. ...
Posted in Uncategorized | 3 Comments »
Thursday, June 5th, 2008
Here is an interesting academic analysis of the difficult task which lies ahead of John McCain as he struggles to win the Presidency against (and I hate to write the word) a most charismatic opponent.
Posted in Uncategorized | Comments Off on McCain Versus Obama
Thursday, June 5th, 2008
Prices of Treasury coupon securities slipped in a lively session in advance of the monthly labor report tomorrow. The yield on the 2year climbed 7 basis points to 2.52 percent. The yield on the benchmark 5 year note has increased by 8 basis points to 3.34 percent. The yield on ...
Posted in Uncategorized | Comments Off on Closing Comments June 05 2008
Thursday, June 5th, 2008
Corporate bond spreads as measured by the IG 10 have tightened by about 4 basis points thus far today. The sentiment in the market has shifted significantly and clients were searching for ways to put money to work. An ebullient equity market certainly contributed to the glowing sentiment. Financial stocks ...
Posted in Uncategorized | Comments Off on Corporate Bonds
Thursday, June 5th, 2008
I was just perusing the ECB website and the ECB on the release of its most recent balance sheet as of May 30 2008 had nearly Euro 456 billion of loans to banks as part of the efforts by itself and the Federal Reserve to keep the system afloat. That ...
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Thursday, June 5th, 2008
Some one just sent me an interesting note. It relates that the 06-1 BBB- tranche closed in single digits yesterday for the first time in its sad lifetime.The writer notes that most everything else is higher in price and tighter on spread. That issue just traded in the screens for ...
Posted in Uncategorized | Comments Off on ABX Addendum
Thursday, June 5th, 2008
The mortgage foreclosure data which are discussed in the previous posting by an HSBC economist paint a gloomy picture. The joker is asking the thief if there is a way out and there does not seem to be a way to escape. However, the data is having little impact in ...
Posted in Uncategorized | Comments Off on ABX