Archive for September, 2008
Monday, September 15th, 2008
The 2 year note is trading at a yield of 1.88 percent which is 31 basis points better than it closed Friday. The benchmark 10 year note yields 3.52 percent and is better by 21 basis points. The Long Bond yields 4.20 percent and is lower in yield by 10 ...
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Sunday, September 14th, 2008
CNBC is reporting (and I do not see it anyplace on the net to which i can link) that 10 banks and investment banks will contribute to a fund with total capital of $70 billion.
The CNBC anchor thought that this would function as a private discount wndow of sorts which ...
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Sunday, September 14th, 2008
The Federal Reserve has expanded the type of collateral it will lend against at the Primary Dealer Lending Facility.
Separately, I was watching CNBC and they are reporting that AIG is looking for a bridge loan from the Fed.
CNBC also reports that the Fed forced Merrill to put itself up for ...
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Sunday, September 14th, 2008
From Reuters.
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Sunday, September 14th, 2008
The New York Times is reporting(via Deal Book) that Lehman will file for bankruptcy this evening.
The story notes that the Federal Reserve will take lower quality assets as collateral for loans and a consortium of banks will provide financing to assist an orderly liquidation of the company.
I am not sure ...
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Sunday, September 14th, 2008
Thanks to reader anonymiss for pointing out this WSJ story.
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Sunday, September 14th, 2008
As prospects dim that a suitable dance partner can be found for Lehman Brothers, the WSJ reports that an emergency ISDA trading session has been scheduled for this afternoon so that dealers can peel off counterparty risk ahead of a bankruptcy announcement by Lehman.
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Sunday, September 14th, 2008
The Wall Street Journal reports that B of A and Merrill are in talks to merge.
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Sunday, September 14th, 2008
The Wall Street Journal is now reporting that British bank Barclays has walked away from a plan to buy Lehman. It looks,at this juncture, that a private solution is less and less likely. Dervatives traders are working overtime this weekend attempting to figure a way to untangle the morass which would emerge ...
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Sunday, September 14th, 2008
The Wall Street Journal website is carrying a story which reports that Barclays has emerged as the most likely candidate to buy Lehman. Meetings will continue throughout the day today . A perusal of the news over the weekend ,though, would indicate that there are many stumbling blocks to overcome ...
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