When Irish Eyes Are Downgraded
Submitted by Tyler Durden on 07/02/2009 - 09:23Moody's sees likelihood of further gradual deterioration of Irish creditworthiness. Other things that will increase the sodium chloride and recycled beer and whiskey content of the Liffey include:
- Does not see any further changes to Ireland’s rating likely in short-term.
- Irish fiscal steps broadly appropriate, more spending cuts crucial.
- Ireland’s bad bank scheme positive measure.
- Sees less pronounced contraction in Irish economy in 2010, growth in 2011.
- Sees signs Ireland’s economic downturn may be bottoming out.
Toxic Equity Trading Order Flow On Wall Street
Submitted by Tyler Durden on 07/02/2009 - 09:03Lots of readers interest yesterday following Joe Saluzzi's Bloomberg interview. I present a White Paper by Themis Trading in which Joe elaborates on many of the concepts that may have flown over the heads of some of the more "beginner" readers. Additionally, I recommend readers search for specific concepts within Zero Hedge - we have covered the topic of program trading and liquidity extensively here over the past 3 months.
The "China Decoupling" 7th Derivative Just Turned Again
Submitted by Tyler Durden on 07/02/2009 - 08:48
For the foaming in the mouth daytraders who think that a day's reversion is the start of a multiyear secular pattern. Like the greenshoot crowd.
Daily Highlights: 7.2.09
Submitted by Tyler Durden on 07/02/2009 - 08:23Frontrunning: July 2
Submitted by Tyler Durden on 07/02/2009 - 08:07He Just Won't Let Go
Submitted by Tyler Durden on 07/02/2009 - 00:48Someone please find me a copy of the DSM-IV and look up Obsessive-Compulsive...
Overalottment: July 1
Submitted by Tyler Durden on 07/01/2009 - 22:24Lear Files For Bankruptcy, Icahn Slaughters Calf
Submitted by Tyler Durden on 07/01/2009 - 21:49The company which two years ago activist investor Carl Icahn thought was a steal at $37.25 just filed for bankruptcy (needless to say Suite #4700 at 767 Fifth Avenue is right now painted with sacrificial lamb blood: janitors who are told to clean it all up by tomorrow have just quit). In a press release the Southfield, MI parts supplier said it was hoping for a prompt Chapter 11 process and that it had already received a $500 million DIP compliments of JP Morgan andCiti (the latter probably has to pretend it is still a bank of some sort).
Peter Boockvar On Gold
Submitted by Tyler Durden on 07/01/2009 - 19:10For all gold bugs out there, Miller Taback's Peter Boockvar on that much debated element, Au 79. Let the discussions begin.
Q2 Corporate Finance Activity Overview
Submitted by Tyler Durden on 07/01/2009 - 17:43For all you investment bankers out there, just dying to see those league tables in which your bank with 4 deals in the quarter somehow made the Top 10.
Niall Ferguson agrees that GBP is going to pop
Submitted by Cornelius on 07/01/2009 - 16:35Ferguson and others are deeply concerned about GBP
Market Wrap 7.1.09
Submitted by Tyler Durden on 07/01/2009 - 16:34Equity indices benefited from optimism carried over from the European and Asian sessions after better manufacturing reports raised hopes that the global recession is easing. The positive sentiment was given a further boost following an in-line reading for the June ISM manufacturing data. However, the upward momentum was not sustained amid lower volumes, as traders turned their focus to today’s NFP report. Further to that, downbeat comments out of GM related to creditor payments, as well as news that California’s governor has declared a state of “fiscal emergency”, put further pressure on stocks later on in the session. Finally, at the closing bell DJI closed up 0.68% at 8504.06, S&P 500 closed up 0.44% at 923.32 and NASDAQ100 closed up 0.28% at 1481.34.
June Car Sales Update
Submitted by Tyler Durden on 07/01/2009 - 14:38- GM June US total vehicle sales down 33.6% vs. Exp. down 30%
- BMW (BMW GY) US June sales down 20.3%
- Volkswagen (VOW GY) of America June sales down 18%
- Ford (F) June US total sales down 10.9% vs. Exp. down 17%
- Chrysler Group US June sales -42% vs. Exp. -36%
- Toyota June sales down 34.6%
If Dick Bove Prognosticates In A Forrest And Nobody Cares, Did Dick Bove Prognosticate
Submitted by Tyler Durden on 07/01/2009 - 14:35-Bove revises Citigroup shr view to USD 0.14 from USD 0.13 for 2010, to USD 0.34 from USD 0.32 in 2011
-Bove sees USD 11bln Q2 gain from Smith Barney venture with Morgan Stanley
-Bove rates Citigroup buy
But again, when CNBC makes fun of you, have fun supergluing the few micro pieces of credibility you may find shattered on the floor.
