Lending To Emerging Markets In Crisis
Submitted by Tyler Durden on 07/01/2009 - 13:52
The New York Fed is out with a paper on Emerging Market capital flows.
In a nutshell: not much of those. Probably an opportune time to come out with this piece, as even blind orangutangs can see that the European currency crisis is days if not hours away, and someone, somewhere at the Federal Reserve will be taken to task if they did not have at least a theoretical contingency. Of course, the practical reality with EMs, once the commodity euphoria crashes, will be so ugly that a $1 quadrillion IMF bond raise won't help anyone.
Dollar Intraday Collapse
Submitted by Tyler Durden on 07/01/2009 - 12:51
Somewhere, Ben Bernanke is cheering the collapse of the dollar: after all it bought the market another 1%. Of course, forget his sworn duty of protecting the US currency: who cares about hyperinflation when there is a great ponzi stock bubble to reflate.
June P&L Update From Stony Brook
Submitted by Tyler Durden on 07/01/2009 - 12:31The East Setauket mega-cores must be doing something shockingly right for a change.
June performance:
- RIEF: up 3.93%
- RIFF: down 5.62%... well not so right here.
Reference: S&P up 0.20%
Afternoon Amusement - Trader Talk
Submitted by Tyler Durden on 07/01/2009 - 12:12"'Nigel,
I have got to say that I think you have been rather less than even-handed in the way that you handled our small disagreement last week about how employees should conduct themselves in (and out of) the workplace. And being placed on suspension by that sycophantic loser in HR was just too much; if he was just a bit taller, I would have punched him!"
Afternoon News Round Up
Submitted by Tyler Durden on 07/01/2009 - 12:06- Move lifts current 105% limit to aid more borrowers struggling to make payments.
- GSEs to offer new 25 year mortgage for some refinances to accelerate debt payments.
Themis Trading: "Principal Program Trading Is A Way To Get The Market Go In Your Direction"
Submitted by Tyler Durden on 07/01/2009 - 10:51Joe Saluzzi of Themis Trading on Bloomberg TV, discussing several critical topics previously covered extensively on Zero Hedge: the real state of the economy, high frequency program trading and outright market manipulation. Must Watch.
Excuse Our Dust
Submitted by Marla Singer on 07/01/2009 - 10:07We're in the process of testing network configurations today, so you might find yourself enduring some delay. Never fear.
Is Goldman Legally Frontrunning Its Clients?
Submitted by Tyler Durden on 07/01/2009 - 09:53
Everyone who is anyone on Wall Street has at some point used the Goldman 360 portal whether for research, news, keeping a track of prime brokerage portfolio or, disturbingly, for trading, via the REDI Plus 9.0 platform (now loaded with enhanced algo trading features to make life for you, dear soon to be frontran Goldman client, so much easier). A second widely accepted Wall Street concept is that a disclaimer is the last thing that anyone reads, if ever. Yet after taking a close look at the Goldman disclaimer for the 360 portal, which is an umbrella waiver or all downstream websites, including REDI, one discovers a curious gem
Daily Highlights: 7.1.09
Submitted by Tyler Durden on 07/01/2009 - 08:23Frontrunning: July 1
Submitted by Tyler Durden on 07/01/2009 - 08:06
New Zealand trade numbers for May
Submitted by Cornelius on 06/30/2009 - 23:17A quick look at New Zealand's increasing trade surplus
Dennis Lets Zero Hedge Have It
Submitted by Tyler Durden on 06/30/2009 - 20:38Dennis Kneale takes a stab at Zero Hedge and its readers. Zero Hedge stabs back.
Cohen & Steers Funds Merge
Submitted by Tyler Durden on 06/30/2009 - 18:22Two odd press releases after the close today, both pertaining to our favorite REIT focused fund. According to the first, Cohen & Steers Advantage Income Realty Fund, Inc. ("RLF"), Cohen & Steers Worldwide Realty Income Fund, Inc. ("RWF"), Cohen and Steers Premium Income Realty Fund, Inc. ("RPF") and Cohen & Steers Quality Income Realty Fund, Inc. ("RQI") have all merged with and into RQI. It apeears that even despite the magical ramp of all REITs this quarter, those pesky "size matters" issues have reared their ugly heads for the 4 various closed-end funds.
David Rosenberg, Shockingly, Realistic
Submitted by Tyler Durden on 06/30/2009 - 17:51David Rosenberg on the mother of all jobless recoveries
Market Wrap 6.30.09
Submitted by Tyler Durden on 06/30/2009 - 16:43An unexpected drop in consumer confidence data saw equity indices fall on concerns the economic recovery will be slow. Lower WTI prices weighed on the major US averages after the release of consumer confidence sparked a flight to safety in the USD. In turn this saw Exxon (-0.95%) top the laggers table in the S&P 500 index. Following the initial downward move in equity indices, prices were range bound and trading sideways, though did move slightly higher after positive comments on the economy by Fed’s Bullard. Finally, at the closing bell DJI closed down 0.96% at 84447.53, S&P 500 closed down 0.85% at 919.34 and NASDAQ100 closed down 0.44% at 1477.25
