the supporters of the current structure of fannie mae and freddie mac appear to be winning the debate at treasury. merrill lynch is telling its that a source within treasury says they want to keep the gses in their current form as in shareholder owned. that implies no takeover any time soon finance blogger accrued interest tells us.......
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...ece on that topic.ahe has the radical notion of splitting fnma and freddie mac into digestible pieces. if any of the pieces went into a tailspin it would not threaten the system. have a good read httpa ccruedint. blogspot.c om......
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four notes for the evening first on lehman brothers deal journal wrote a piece earlier this week on lehman potentially selling their subsidiary neuberger berman.a i generally agreed with the piece and wrote the following response be wary when managements sell their bestsafest assets to stay alive. it means that the remaining firm is more risky and that should the downturn persist the firm will ...
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ugh.a im still not home yet but after my recent 48hour news blackout the news on fannie and freddie is pretty amazing.a now i would not be so certain that an interpretation of sfas 140 would force fannie or freddie to raise capital gaap accounting often has little to do with regulatory capital rules.a only if ofheo decides to mimic the treatment in gaap would it force capitalraising absent any ne...
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first an old realmoney columnist conversation post david merkel moodys downgrades xl capital assurance 272008 334 pm est when the main rating agencies begin downgrading the lesser guarantors the big guarantors are likely not far behind. moodys just downgraded xl capital assurance from aaa to a3 and security capital assurance from aa3 to baa3 barely investment grade. psychologically...
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accrued interest has the straighttalk on the balance sheet of fannie maes brother freddie. the highlight of the q a is this loaded question q freddie macs senior debt rating is still aaa which is about as much bullshit as ambac. how can these guys keep losing money quarter after quarter and retain that rating so spot on i didnt even bother reading the answer i was overcome with the amusement of...
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sp 500 earningsex three big oil companies. big picture sp 500 growth is beating value since the market top of last october. bespoke investment group read this before wednesday sp 500 performance by day of the week. crossing wall street tbill supply is pushing rates higher. marketbeat negative real yields on 10 year treasury bonds historically dont last long. capital spectator a key tax ruling...
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he thing i thought felix salmon did an excellent job on this post regarding economics blogging. his correspondent proposes standards for and a reward to be handed out to the best bloggers. felix declines. i decline as well which i will detail later. there are already ways for financial bloggers to be distinguished against one another whats the alexa technorati and quantcast rankings of your s...
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times are tough when an asset manager needs to raise capital in billion dollar chunks. wsj.com deal journal market movers inflationary psychology is back and the fed is worried. real time economics calculated risk the fed is running out of tbills. alea price increases are simply more noticeable more salient as psychologists would say than price decreases. nytimes.com also crossing wall stree...
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microsoft will be back. dealbook the pressure on yahoo yhoo management is going to be intense. nytimes.com market movers select quotes from the capitalist woodstock. dealbreaker.com wsj.com the upshot of a shift away from fund of hedge funds. all about alpha confidence is good only when confidence is merited. interfluidity also market movers the bear stearns bailout may have saved the economy...
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the bond market has had quite a shift since the last fed meeting. what are the common themes ou tperforman ce of credit especially high yield. return of the carry trade. taxfree munis have run. under performanc e of treasuries longer worse and foreign bonds particularly carry trade currencies like the yen and swiss franc. the willingness to take risks in fixed income has returned particularly in th...
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under increased scrutiny libor rises. wsj.com also market movers accrued interest either commodities are in a bubble and their prices must come down or the flight to quality has been overdone and investors will take losses on bonds as they return to riskier assets. ft.com t. boone pickens admits he was wrong to call for an oil price correction. marketbeat i believe that the price of oil like th...
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we tried to edit it down but for whatever reason todays linkfest is longer than usual. we hope you enjoy the entire thing. distressed asset investors are stepping up to the leveraged loan plate. wsj.com nytimes.com do not expect a big lbo for at least a year. naked capitalism apollo management lp will pursue distressed assets and an ipo. wsj.com dealbook arent hedge funds supposed to benefit ...
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i mentioned in my original post this morning that earnings season will begin in earnest this week. the excellent blog accrued interest has a recent posting with a listing of dates when some major financial firms report.......
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the stock market is trading right where it was nine years ago. stocks long touted as the best investment for the long term have been one of the worst investments over the nineyear period trounced even by lowly treasury bonds. wsj.com also aleph blog you do not always need to have a strong opinion on the market. thestreet. com everyo ne assumes the bond market is correctit never suffers from exuber...
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inflation expectations have dropped for now. real time economics the fedex fdx indicator hints at slower growth ahead. wsj.com calculated risk somebody had to win betting against bear stearns bsc. wsj.com rumbling of shareholder opposition to the 2 deal. minyanville.com dealbook collective action and the ongoing mystery of bear stearns stock price. dash of insight what lies ahead for visa v ...
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the cme finalizes its deal to purchase the nymex. wsj.com markets are now looking for a full percentage point cut in the fed funds rate target. marketbeat a quick run through of the state of the bond markets. accrued interest are other investment banks at risk silicon alley insider do you own the securities in your investment account market movers long memories and echoes of the ltcm bailout....
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is there a fatal flaw in the fundamental law of active management ultimi barbarorum are 13030 funds a securities lending jackpot all about alpha carlyle capital played with fire leverage and got burned. market movers small startup credit hedge funds are facing a funding squeeze. times online via dealbook sometimes the rumors really are true. bear stearns bsc really is having liquidity issues....
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accrued interest do you think that after what you did to han were going to trust you once the unbridled fear subsides then we can get to the business of properly pricing various risks. were getting there. slowly. tags bonds trading markets ted talks jill bolte taylor my stroke of insight video tags brain psychology stroke no tags......
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credit spreads wont tighten until sellers are exhausted. accrued interest the fact that people are buying credit protection on treasury bonds at nonnegligible prices does go to show how crazy the markets are right now. market movers the u.s. is now ground zero for global inflation. mankiw blog add tslf or term securities lending facility to your fed lexicon. interfluidity economists view naked...
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if history is a reliable guide the recession of 2008 is now unavoidable. nytimes.com a weird financial dynamic seems to be feeding on itself in an unusually violent fashion. marginal revolution my feeling is that the credit markets are hysterical. theyre not clearing theyre not acting efficiently and spreads especially on highlyrated debt are much higher than credit risk alone could ever account...
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looking behind the headline payroll figures and spotting a recession. market movers bespoke investment group calculated risk dealbreaker.com big picture agency bond spreads are at levels not seen since 1986. nytimes.com aleph blog credit spreads blow out as new issue bond pricing goes back to basics. alea ibid how marktomarket accounting affects the market clearing process. naked capitalism ft ...
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i think as a way of raising the profile of this blog i should sponsor a public alliteration contest. against that background iaoffer an invitation to visit the blog accrued interest for a wonderful exegesis of the above mentioned mayhem.......
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u.s. corporations are flush with cash. net debt ratios hover around zero. nytimes.com will a weak economy prompt more corporate divestitures financial week now both the bond market and foreign exchange show acute concern for the us economy. ft alphaville investors are increasingly turning to currencies as an asset class. capital spectator have commodity index investors pushed prices too high ...
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