August 31st, 2009 10:10 am | by John Jansen |

Corporate bond spreads are unchanged in very quiet trading this morning.

One participant noted that AIG hybrids were off several points. Some are questioning the rally in the common and if you dont believe the common rally it is tough to love the preferreds.

The Chicago PMI touched 50. It has not been above 50 since January 2008 at the outset of the recession.

There was strength in employment, production and new orders.

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  1. 2 Responses to “Miscellany”

  2. By mSquare on Aug 31, 2009 | Reply

    HYD – Anyone have an opinion on owning this ETF? I was looking for reasonably stable Muni to own instead of adding to Money-market funds that yield nothing.

    I was also vary of buying funds with their short-term trading restrictions and thought this ETF would be decent alternative. I was considering buying on a dip that I expect after it goes ex-dividend next week.

  3. By Tyler K on Aug 31, 2009 | Reply

    some OT miscellany:

    I’m just reviewing some articles on China and I’ve come up against something that I’ve seen repeated a number of times now; specifically, the tale of Chinese pig farmers jumping on the stockpiling bandwagon and storing copper in their barns as speculative investments.

    Now I admit I know squat about Chinese pig farmers, but I think I smell something funny — and I don’t think its the pigs. Personally, this odor strikes me as story that has been conjured, relying upon quaint imagery of hard working entrepreneurial peasant farmers to draw gaze away from something more dubious in the commodity markets.

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