Propaganda Machine Needs Oiling, GDP Needs Red Bull
Submitted by Tyler Durden on 06/22/2009 - 16:17With headlines like this, who can argue that the media machine, in full control for the past 3 months, has gotten skewered on its own (lack of) propaganda:
1:00 pm : A lack of upbeat headlines has allowed participants to take control of the session. In turn, losses have been deep and broad-based, leaving stocks to test a major technical hurdle.
Gold Rescue Plan Delineated
Submitted by Tyler Durden on 06/22/2009 - 15:51US To Trade Gold Reserves For Cash Through Cash4Gold.com
hat tip Steve
Intraday TICK Update
Submitted by Tyler Durden on 06/22/2009 - 14:59Not a single buy-program in da house today.
hat tip permabullish knockout optioned, kilt wearing dude
Intraday TICK Update
Submitted by Tyler Durden on 06/22/2009 - 14:59Not a single buy-program in da house today.
hat tip permabullish knockout optioned, kilt wearing dude
Intraday TICK Update
Submitted by Tyler Durden on 06/22/2009 - 14:59Not a single buy-program in da house today.
hat tip permabullish knockout optioned, kilt wearing dude
Warren Buffett Faces Stiff Competition From Senator Kit Bond
Submitted by Tyler Durden on 06/22/2009 - 13:18No, not with regard to who can put more money into struggling Hell's Angels' favorite company Harley Davidson, or who can launch another failed bond wraparound insurance company... No, we are talking Becky Quick of course, who somehow has a knack for attracting males 2-4 times her own age. In the clip below pay attention to Kit Bond's last words.
Loans Versus Bonds Relative Value: Week of June 18
Submitted by Tyler Durden on 06/22/2009 - 12:41The toxic grabfest is ending. This is best seen by the inversion in the secured/unsecured classes. While the loan universe moved 9 bps tighter over last week, the slow HY bus is still trying to load up on those Neiman Marcus bonds, hoping to see this piece of paper get taken out at par. Here's a hint - it won't.
RIEF Outperforms S&P by 2.06% MTD, RIFF Plunges
Submitted by Tyler Durden on 06/22/2009 - 12:02The high/low beta stratification seems to have finally worked out for RIEF, although likely too late as anxious investors have said "basta", and also just in time to watch RIFF get annihilated with a -7.79% absolute (ly disastrous) performance MTD. No surprise all fees there have been waived. At this rate of decline the "Futures" Fund certainly has no future.
Frontrunning: June 22
Submitted by Tyler Durden on 06/22/2009 - 11:28- Wallgreen's conference call: Consumers shopping closer to payday, saving more, using less credit
- Insiders apparently don't watch CNBC, don't smoke greenery, as they sell shares at fastest pace in two years (Bloomberg)
- The truth - Nobody has any idea what is going on: World Bank, Roubini
The Fledgling Conflicts Of Interest At The Nouveau Rating Agencies
Submitted by Tyler Durden on 06/22/2009 - 04:46A lot has been said recently over the much-maligned traditional rating agencies: S&P and Moody's. The rampant conflicts of interest over the past decade which everyone on Wall Street was all too aware of, somehow were a shock to politicians such as Barney Frank. In fact these very conflicts have been proposed to be the root of the credit and mortgage crisis (one can see how that is not a futile argument: if an excel workbook crashes your PC if you try to assume declining housing prices someone should have raised a red flag somewhere).
Guest Post: China - Economic Catastrophe Unfolding
Submitted by Tyler Durden on 06/22/2009 - 01:59Submitted by Terence Doherty, guest author (via Phil's Stock World)
Here’s some recent news about the real estate markets in China. I think it is fascinating watching how these things unfold. This proves once again that the lesson of history is that we don’t learn the lessons of history.
Guest Post: China - Economic Catastrophe Unfolding
Submitted by Tyler Durden on 06/22/2009 - 01:59Submitted by Terence Doherty, guest author (via Phil's Stock World)
Here’s some recent news about the real estate markets in China. I think it is fascinating watching how these things unfold. This proves once again that the lesson of history is that we don’t learn the lessons of history.
PIMCO Does Not Believe In Relative Value
Submitted by Tyler Durden on 06/22/2009 - 01:55In the accompanying presentation, it is easy to see why Bill Gross' PIMCO is highly bullish on credit of any variety. As the table below demonstrates, taken straight out of the biggest bond fund's May 2009 presentation "Investing for the Journey and the Destination: What it means across the Capital Structure" PIMCO doesn't see any overvalued instruments in the credit realm: MBS, IG, EM and HY/Loans all have wonderfully green and positive metrics in the valuation column.
PIMCO Does Not Believe In Relative Value
Submitted by Tyler Durden on 06/22/2009 - 01:55In the accompanying presentation, it is easy to see why Bill Gross' PIMCO is highly bullish on credit of any variety. As the table below demonstrates, taken straight out of the biggest bond fund's May 2009 presentation "Investing for the Journey and the Destination: What it means across the Capital Structure" PIMCO doesn't see any overvalued instruments in the credit realm: MBS, IG, EM and HY/Loans all have wonderfully green and positive metrics in the valuation column.
PIMCO Does Not Believe In Relative Value
Submitted by Tyler Durden on 06/22/2009 - 01:55In the accompanying presentation, it is easy to see why Bill Gross' PIMCO is highly bullish on credit of any variety. As the table below demonstrates, taken straight out of the biggest bond fund's May 2009 presentation "Investing for the Journey and the Destination: What it means across the Capital Structure" PIMCO doesn't see any overvalued instruments in the credit realm: MBS, IG, EM and HY/Loans all have wonderfully green and positive metrics in the valuation column.
