Archive for February, 2009
Monday, February 23rd, 2009
AIG Seeks More U.S. Funds, May Have $60 Billion Loss, CNBC Says
2009-02-23 19:38:38.880 GMT
By Vivek Shankar
Feb. 23 (Bloomberg) -- American International Group Inc. is
in talks with the U.S. government for more funding as it
prepares to report the biggest corporate loss in American
history, CNBC reported, citing unidentified people familiar with
the ...
Posted in Uncategorized | 2 Comments »
Monday, February 23rd, 2009
Agency spreads are tighter across the curve this day. Two year sector paper is 3 basis points tighter. Five year sector benchmarks are 2 basis points tighter and ten year paper is about 3 basis points tighter. One trader and friend of the blog reports very light activity. He notes ...
Posted in Uncategorized | Comments Off on Bond Market: Agency Department
Monday, February 23rd, 2009
There is robust issuance today in the new issue corporate bond market. That issuance proceeds in spite of the equity market trading near multi year lows and in spite of the poor performance of most of the stuff issued last week. One salesman noted that only the Roche deal was ...
Posted in Uncategorized | 2 Comments »
Monday, February 23rd, 2009
Treasury market activity is light. There is still a steel cage death match of sorts between the sordid economic fundamentals and the tsunami of supply which the Treasury continues to issue.
I have heard of some modest sales of off the run 10 year paper and some buying of the long ...
Posted in Uncategorized | 3 Comments »
Monday, February 23rd, 2009
Almost any agency with initials has its name attached to a statement released this morning. The statement is a no starter. It lack details, depth and denies the real problems bedeviling the banking system.
The market has pronounced major banking companies virtually insolvent. The official statement argues that they are ...
Posted in Uncategorized | 8 Comments »
Monday, February 23rd, 2009
IG 11 opening 3 basis points wider at 214/216.
Posted in Uncategorized | Comments Off on IG 11
Monday, February 23rd, 2009
Libor US$ Fixing
2/23 2/20 Change
OVERNIGHT 0.26500 0.27813 -0.01313
1 WEEK 0.36375 0.36875 -0.00500
2 WEEKS 0.40750 0.41500 -0.00750
1 MONTH 0.47375 0.47250 0.00125
2 MONTH 0.94938 ...
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Monday, February 23rd, 2009
Prices of Treasury coupon securities have tumbled on overnight trading as media reports the US taxpayer is on the verge of becoming the largest single owner of Citibank common stock diminish the safe haven bid for government bonds. One would think that demand for the safety of government debt should ...
Posted in Uncategorized | 9 Comments »
Monday, February 23rd, 2009
I was doing the research for my morning piece in which I include an assortment of news nuggets from various overnight sources and venues. This item fromthe generally unflappable Jean Paul Trichet struck me as interesting and worth posting separately.
He thinks that the European financial system is under severe strain and ...
Posted in Uncategorized | 2 Comments »
Sunday, February 22nd, 2009
The Wall Street Journal is reporting on its website that Citibank and the United States Government are negotiating a deal which would make the Government a substantial owner of Citibank common shares.
The ownership would come about as a substantial portion of the preferred stake which the government currently owns is ...
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