Archive for September, 2008
Tuesday, September 16th, 2008
Speaker Pelosi plans far reaching investigation of recent events in the financial markets. It will be a circus and Henry Waxman will reprise the "Cross of Gold Speech".
I will ask this rhetorical question: Do you think that she is seeking some universal truth or is she seeking to exploit the ...
Posted in Uncategorized | 4 Comments »
Tuesday, September 16th, 2008
Bloombert reporting that the Fed is considering conservatorship as solution for AIG. I am not sure how they do that. Insurance companies are regulated on state by state basis. Off the cuff it would seem as though that would require legislation. This is a politically charged election year environment and ...
Posted in Uncategorized | 1 Comment »
Tuesday, September 16th, 2008
Prices of Treasury coupon securities are registering broad based losses in a day dominated by the fortunes, misfortunes and future prospects of AIG. There were many stories and comments about that company but a late in the day story that the Fed was reconsidering their position on aiding AIG sparked ...
Posted in Uncategorized | 4 Comments »
Tuesday, September 16th, 2008
Via Calculated Risk.
Posted in Uncategorized | Comments Off on Russian Stocks Plummet
Tuesday, September 16th, 2008
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Tuesday, September 16th, 2008
At the conclusion of its conclave on interest rates and monetary policy, the FOMC issued a statement which held the target federal funds rate at 2 percent.Policy makers cited a litany of reasons for the slowdown in growth. They noted that financial markets strains had increased significantly. (They were searching ...
Posted in Uncategorized | Comments Off on FOMC Statement
Tuesday, September 16th, 2008
CNBC has reported that the Federal Reserve and the Government are discussing some sort of intervention in that matter of CNBC. I think the term intervention is employed when a group of concerned friends seek to help addicted people.
Against that background benchmark, Treasury issues have surrendered most of the flight ...
Posted in Uncategorized | 6 Comments »
Tuesday, September 16th, 2008
Morgan Stanley-MS: CDS Basis Point Jump [MORE]
2008-09-16 12:40:54.710 GMTMorgan Stanley-MS: CDS Basis Point Jump
CMA Datavision reported that the 5-Year CDS for the company jumped 128bps wider
this morning to 628bps. The stock is also not responding well to a less than
hoped for result from its peer Goldman Sachs (GS). MS shares ...
Posted in Uncategorized | 5 Comments »
Tuesday, September 16th, 2008
Mortgages are lagging Treasuries this morning. The 5 year Treasury is up about 5 /8 of a point while MBS are down a tick or two. That would leave MBS about 12 basis points cheaper to Treasuries.Swaps are 4 basis points to 5 basis points wider.
One commentator notes that there ...
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Tuesday, September 16th, 2008
The IG 10 is trading 214/218. That is about 25 wider than the previous close and about 65 wider than the close Friday.
CDS on AIG are 47/52 points up front. That quote is about 90 minutes old. If I get a more current quote I will post it.
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