February 4, 2012

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Wall Street Debt Investors’ Confidence Renewed?

July 14, 2010 By 1 Comment
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Image via Wikipedia Corporate bonds, bets on the repayment of corporate debt, are experience a sustained rally. Investors are showing a renewed confidence in the global economy as they grab new debt securities in a variety of companies recent capital raises. This rally is currently the longest in four month--approaching the six day bond rally in March 2010. Retailer Target Corp. was able to raise $1 billion in their bond sales, the first in two years. And in the International markets Dutch … [Read more...]

Roubini Still Predicting Rough Road Ahead for Stock Market and Banks

March 26, 2009 By Leave a Comment
nouriel-roubini

Image by Getty Images via Daylife Roubini, professor at NYU’s Stern School of Business and the chairman of consulting firm Roubini Global Economics, tells Bloomberg that banks are not out of the woods yet. The infamous doomsdayer of the impending mortgage crisis in 2004, is cautioning investors and economist on reveilling in the euphoria of optimist stock market rallys. Roubini cautions economic recovery heralds as he predicts more major bank failures and nationalization ahead. I am … [Read more...]

The Quants Killed Wall Street

February 24, 2009 By Leave a Comment
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Image via Wikipedia Great article by Felix Salmon in Wired--Recipe for Disaster: The Formula That Killed Wall Street I remember back in my DeepGreen Bank days structuring and pitching home equity portfolios for sale and securitization. It is amazing up in the ivory towers of Wall Street it got very abstract, while on the front-end of getting into the palaces (Wall Street firms, rating agencies, and mortgage insurers) it was good old fashion salesmanship. This article is a great walk-through … [Read more...]

TARP Reversal, Mortgage Servicers on Hot Seat, China Rapidly Slowing

November 13, 2008 By Leave a Comment
hi-res-henry-paulson

TARP Reversal, Paulson ADHD? Paulson leads his dramatic redirection of the Trouble Asset Relief Program (TARP) with an adaption of John Maynard Keynes, “When the facts change, I change my mind – what do you do, sir?”: Treasury Secretary Henry Paulson, whipping out his dead economist quote book, used this gem from John Maynard Keynes to justify his bombshell Troubled Asset Relief Program update and redirection: "I will never apologize for -- for changing an approach or a strategy when … [Read more...]

Obama Reviewed, China, TARP Update, Bank of England, Wal-Mart Indicator

November 6, 2008 By Leave a Comment
walmart

Obama Election Reviewed Everyone is jumping in with there review and assessment of President-elect Obama. Here is what the financial services wonks are saying: Blown Mortgage is tracking Obama's Housing Promises Henry Blodget on the Yahoo! TechTicker is noting Obama already reseting expectations Wall Street Journal is ttracking Economists reactions to Obama Paul Kedrosky says Wall Street doesn't care China Crash Debated Economist Nouriel Roubini, noted economic doomsdayer often attributed … [Read more...]

New Hope?

November 5, 2008 By Leave a Comment
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New Hope has a rocky start: Mr. President we have a problem: The FDR/Obama parallel may not be extreme. This is going to be a fast start for President Obama anyway you look at it. His cabinet picks are going to be critical to success. … [Read more...]

GDP, Mortgage Bonds, Zero Interest Policy, Renters for Obama, Stop Being Bearish

October 30, 2008 By Leave a Comment
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GDP Swings Low, Sweet ... Well it is official, we're contracting. Consumers are hoarding their cash (taking queues from the banking sector). Unlike the recession of 2001 consumers will not be borrowing their way through hard time--try to find a home equity line of credit these days. They're calling it a recession: “This is the first of a run of negative G.D.P. numbers,” said Ian Shepherdson of High Frequency Economics. “The economy is in recession.” He predicted that the economy would … [Read more...]

Mortgage Rates, Misery Index, Foreclosures, Case Shiller, OPEC, Credit Default Swaps

October 29, 2008 By Leave a Comment
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Mortgage Rates Rise as US Market Soars We get a big, even historic, upward bounce in the US stock market. Meanwhile mortgage rates are taking a negative bounce. The interesting part is that one of the stated US government bailout objectives was to preserve or even increase mortgage affordability. However, these same interventions into markets are causing precisely the opposite (possibly short-term) effect: With so much government debt guarantees in the bond market yield spreads between mortgage … [Read more...]

Yields Spread Mortgage Rates Rise, Homebuilders Housing Fix, Soros on Denmark Mortgage Market, Your $700 Billion at Work

October 28, 2008 By Leave a Comment
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Yields Spread and Mortgage Rates Rise Fannie, Freddie, and Ginnie mortgage bonds continue to pull away from US Treasuries. The difference between yields on Washington-based Fannie's current-coupon 30-year fixed-rate bonds and 10-year U.S. Treasuries rose about 21 basis points to 224 basis points as of 4:30 p.m. in New York, data compiled by Bloomberg show. That's up from 162 basis points, or 1.62 percentage point, on Oct. 20. "It is the deleveraging,'' Mohamed El-Erian, the co-chief executive … [Read more...]

Asian Markets Down, Where is the Bottom, Rethinking Capitalism, and JP Morgan Will Not Lend

October 27, 2008 By Leave a Comment
capitalism

Asian Markets Take Another Dip Asian markets continue to tumble on real fears of global recession. Compounded by the already tightly intertwined system of banking and commercial equity positions. Much of these riskier equity positions, unlike US Banks are counted toward their regulatory capital requirements. This latest Asian market plunge is signalling another dangerous day on Wall Street. How many bullets can the market dodge? If we do get a real free fall what do you do? By the way don't … [Read more...]