Is Credit Suisse Going For Broke With ETFs?
Submitted by Tyler Durden on 06/19/2009 - 15:00Well, the "for broke" part is hopefully a pun. But based on their most recent holdings, which among others include 104% of the IYR Real Estate ETF, Credit Suisse is certainly ploying something here (one hopes, or else that is one big fat finger). When you have the balance sheet of the Swiss National Bank to back you up, you don't really care much if you overload the boat. Of course, this is excatly what Boaz Weinstein was thinking when the world blew up in his face.
Unemployment Rate By State
Submitted by Tyler Durden on 06/19/2009 - 14:45The state unemployment data from the BLS is likely significantly flawed but it makes sense to visualize it nonetheless. The chart below demonstrates both the monthly change in unemployment (April - May 2009) as well as the year-over-year increase in state unemployment (vs. May 2008). Notably, Michigan was in a world of pain even before the bankruprtcy of GM and Chrysler. The green shoot: seems cattle ranchers are in high demand in N/S Dakota and Wyoming.
Unemployment Rate By State
Submitted by Tyler Durden on 06/19/2009 - 14:45The state unemployment data from the BLS is likely significantly flawed but it makes sense to visualize it nonetheless. The chart below demonstrates both the monthly change in unemployment (April - May 2009) as well as the year-over-year increase in state unemployment (vs. May 2008). Notably, Michigan was in a world of pain even before the bankruprtcy of GM and Chrysler. The green shoot: seems cattle ranchers are in high demand in N/S Dakota and Wyoming.
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.
