Archive for August, 2008
Sunday, August 24th, 2008
Bloomberg with an ominous article on the stresses,strains and fissures in the money markets.
The FT from Jackson Hole musing on ways to jump start frozen markets.
More from the FT, Jackson Hole and the concerns of central bankers.
Professor Hamilton takes an interesting peek at various economic indicators which in the past ...
Posted in Uncategorized | Comments Off on Sunday Evening Links
Friday, August 22nd, 2008
If it is Friday afternoon and the FDIC is shuttering another bank.
Reuters ponders the slowdown in consumption.
Lehman assets do not shine when held up to the light.
Posted in Uncategorized | Comments Off on Friday Night Links
Friday, August 22nd, 2008
Prices of most Treasury coupon securities collapsed today (the Long Bond Is glaring exception) as a the troubled portions of the financial world seem a little kinder and a little gentler for the present.The day opened with news that the Korean Development Bank was cogitating on a purchase of Lehman ...
Posted in Uncategorized | Comments Off on August 22 2008 Closing Comments
Friday, August 22nd, 2008
Fear has struck out........for now. Agency spreads have moved tighter this morning by 2 basis points to 4 basis points across the yield curve.
The level of activity is muted and I am hearing in this market and in other sectors that it is a quiet summer Friday.
Posted in Uncategorized | 2 Comments »
Friday, August 22nd, 2008
The IG 10 is 139/140 which is about 8 tighter than the previous close.Lehman credit has tightened sharply on the news that the Korean Development Bank wishes to own a primary dealer. CDS closed last night at 387/397. It has traded as tight as 300 this morning and a recent quote ...
Posted in Uncategorized | Comments Off on Corporate Open
Friday, August 22nd, 2008
There is nothing market moving in the Bernanke speech. The focus is the nitty gritty down in the dirt issues of systemic risk, counterparty risk, triparty repo and haircuts.It is not very interesting if you are looking for something to shape your market view.
http://www.federalreserve.gov/newsevents/default.htm
Posted in Uncategorized | Comments Off on Bernanke Speech
Friday, August 22nd, 2008
7:41 *LEHMAN BROTHERS SHARES GAIN 13% TO $15.47
7:39 *KOREA DEVELOPMENT BANK SAYS IT MAY BUY LEHMAN, REUTERS REPORTS
Posted in Uncategorized | 5 Comments »
Friday, August 22nd, 2008
Some overnight Treasury flow:Central Bank buying Agency.
Prop Desk buying 5 year
Bank buying 10s
Central bank buying bills.
Japanese buyers 3 years sector
Posted in Uncategorized | Comments Off on Overnight Flow (Some)
Friday, August 22nd, 2008
The Times has an interesting story about the barrowing range of options available to Lehman as it confronts the future.
Buy your M and M s now!
A dispute between surviving members of 1960s rock group The Doors is settled by a judge and thankfully (for 1960s purists) you will not be ...
Posted in Uncategorized | Comments Off on Links
Friday, August 22nd, 2008
Prices of Treasury coupon securities have registered mixed results in overseas trading with modest declines in securities with maturities of 5 years and shorter while bonds with maturities of 10 years and longer manifested virtually no price change.The yield on the benchmark 2 year note has climbed about 2 basis ...
Posted in Uncategorized | 2 Comments »