David Faber Openly Ridicules Dick Bove
Submitted by Tyler Durden on 06/19/2009 - 14:11Everyone else does, why should David be an exception. Fast fwd to 2:20 - "You want a good laugh, take a look at Dick Bove's latest report." Dick - when CNBC makes fun of you for smoking the "shutes" you know you have reached a new low on the propaganda pole. At least that DC advisory job beckons - better make use of it quick. The next election is in just over 3 years.
Goldman Sachs Principal Transactions Update: 631 Million Shares
Submitted by Tyler Durden on 06/19/2009 - 13:56Latest NYSE Program Trading data out. Program Trading volume continues to decline, with 3.4 billion shares traded, down 700 million from the week before. Most notable is Goldman's dramatic drop in principal trading, down from on average 1 billion over the past 2 months to a mere 631 million. In the meantime, Credit Suisse is continuing its climb in Principal PT.
Humorous Interlude That Only Phil Falcone Will Appreciate
Submitted by Tyler Durden on 06/19/2009 - 13:21Well, maybe Scott Galloway too.
[youtube=http://www.youtube.com/watch?v=ENu_06t9xl4&hl=en&fs=1&]
Dallas Fed On Curbing Irresponsible Lending
Submitted by Tyler Durden on 06/19/2009 - 12:42In yet another splinter approach from the route espoused by Bernanke, the Dallas Fed shares its thoughts on limiting irresponsible lending. The Fed's solution is the imposition of loan-to-value caps which would make a lot of sense, but would substantially curb loan demand - a course of action that the Federal Reserve would fight tooth and nail against in its attempt to deflate debt by a new wave of excess (and even more irresponsible as it would be taxpayer backstopped) lending. The Dallas Fed's justification:
Guest Post: The Proposed Grayson-Glass-Steagall Act Of 2009
Submitted by Tyler Durden on 06/19/2009 - 12:25Submitted by John Bougearel of Structural Logic
Late Night Quantology
Submitted by Tyler Durden on 06/19/2009 - 02:08Bedtime reading for the wonkish insomniac-cum-strange attractor seeker in all of us. Additionally, London readers are lucky - Dr. Paul Wilmott, one of the best known and most respected financial quants, will host on July 8 a free quant and event driven trading forum called 'Evolving Strategies in the New World Order', covering topics such as:
- Transforming your strategies to respond to changing liquidity dynamics
- Generating alpha with differentiated content
- Going global:opportunities and challenges
- Effective strategies for the current market environment
Federal Reserve Balance Sheet Update: Week Of June 17
Submitted by Tyler Durden on 06/18/2009 - 21:56Total Federal Reserve balance sheet assets for the week of June 17 of $2,053 billion consisting of:
Federal Reserve Balance Sheet Update: Week Of June 17
Submitted by Tyler Durden on 06/18/2009 - 21:56Total Federal Reserve balance sheet assets for the week of June 17 of $2,053 billion consisting of:
TrimTabs CEO Provides Realistic View On Economy
Submitted by Tyler Durden on 06/18/2009 - 20:40With quotes like "as opposed to the other commentators on CNBC, i think the banks are a great short here," this is a must watch video from TrimTabs' Charles Biderman.
VWAP Reversion Programs Win The Day
Submitted by Tyler Durden on 06/18/2009 - 19:04The 4 or 5 computers that were trading with each other today all executed perfectly according to the "regress to VWAP" program. If you were a human (presumably, since only a few East Setauket machines do serious OCRing here), and you thought you had any edge trading this market, you were a fool. Play again though, and better luck tomorrow.
VWAP Reversion Programs Win The Day
Submitted by Tyler Durden on 06/18/2009 - 19:04The 4 or 5 computers that were trading with each other today all executed perfectly according to the "regress to VWAP" program. If you were a human (presumably, since only a few East Setauket machines do serious OCRing here), and you thought you had any edge trading this market, you were a fool. Play again though, and better luck tomorrow.
We Have Mortgage Lift Off
Submitted by Tyler Durden on 06/18/2009 - 18:26The spread between mortgages and the 10 year just exploded...
But not because anyone is buying the 10 year.
Deutsche Bank Projecting A 40% Decline In NY Housing Prices
Submitted by Tyler Durden on 06/18/2009 - 17:01After the good folks in the Deutsche Bank securitization group anticipated a 47% drop in NY housing prices in March, they have released an updated report discussing the future pain in the top 10 MSA, and the biggest outlier by a big margin, once again, is the New York-White Plains-Wayne NY-NJ MSAD.
Intraday Credit Observations
Submitted by Tyler Durden on 06/18/2009 - 16:17Quants are back pushing the market up on no volume in tried and true fashion. Credit panicking, as 7 shares of something or another higher means inflation is here to stay. In the meantime, mortgages are on a one way street higher, while 2s10s are enjoying the cattle gun. At the same time, Treasury vol is starting to pick up again: just what the doctor ordered for a quant manipulated market as even PT volume disappears.
So which will it be Bernanke: 401(k) down only50% form their peak or people buying that 7th vacation home again.
Treasury Supply On Deck: $104 Billion
Submitted by Tyler Durden on 06/18/2009 - 15:08As the 10 Year has resumed its daily pounding (and it seemed like just yesterday that bond concerns had disappeared... oh wait it was - time to deflate equities guys), the scheduled bond releases for next week should make the bond vigilantes giddy at the prospect of further uncovering China's growing lack of interest in US printed pieces of paper.
Here is the line up for next week:
$40 billion 2 Years on Tuesday
$37 billion 5 Years on Wednesday
