Archive - May 28, 2009

So just which is it? Did the streaming ticker not pay its real time bill today?

Green shoots spinning in their grave - 12 percent of homeowners with a mortgage are behind on their payments or in foreclosure. Half of all adjustable-rate loans to borrowers with shaky credit were past due or in foreclosure. And we still have to see the Option ARM hurricane. California, Nevada, Arizona and Florida accounted for 46 percent of new foreclosures in the country.

A useful chart showing the historical levels of the various prices along the Treasury curve. Whoever put the steepener trade on in late 2006 (about the time Bernanke started calling the sho(r)ts) is by now rich, retired, sitting on a beach, collecting 20%.

hat tip Günter Leithold

A useful chart showing the historical levels of the various prices along the Treasury curve. Whoever put the steepener trade on in late 2006 (about the time Bernanke started calling the sho(r)ts) is by now rich, retired, sitting on a beach, collecting 20%.

hat tip Günter Leithold

For the latest and greatest thoughts in the investment community. Created by Mike O'Rourke of BTIG.

• US is considering the possibility of a single regulator for banks.
• April Existing-home sales climbed 2.9% as buyers took advantage of foreclosures.
• Treasury Yield curve steepens to record as sales of govt debt surge.
• AutoZone's Q3 net rises 9.5% to $173.7M, revs up 9.3% at $1.66B.
• BofA says has raised $26B in capital plan to date.
• GM bankruptcy is considered 'inevitable' as bondholders reject swap offer.
• GM has asked for an addln $415M for its Opel unit, stalling talks with Fiat, Magna Intl.
• Jo-Ann Stores beats by $0.19, posts Q1
  

• Time Warner approves spin off of AOL (AP)
• Initial claims drop, continuing claims rise for 17th "record" week (AP)
• Commerce department says soon to be downward adjusted durable goods order rose by 1.9% in April, after a [surprise, surprise] huge downward revision in March, from -0.8% to -2.1% (AP)
• Oil
  

The auto supplier firing squad just had its first casualty. Not surprising, and definitely not the last one. The bankruptcy was filed in Delaware. From the CEO:

The auto supplier firing squad just had its first casualty. Not surprising, and definitely not the last one. The bankruptcy was filed in Delaware. From the CEO:

• Tom Lauria seeks GM bondholders for new fight (Bloomberg)
• Chrysler asks bankruptcy judge to approve Fiat sale [and seal the farce] (Bloomberg and Reuters)
• Japan's PPT - Epic Fail: Japan to scrap $520 billion plan to prop up stock market [at least they are ope
  

Nothing too exciting today at One Bowling Green, just 10 hours of cross examinations of Tom Lasorda, former president and Vice Chairman of Chrysler, Alfredo Altavilla, chief executive of Fiat's powertrain business and, most notably, Robert Manzo of Capstone's Advisory Group, the de facto financial advisors for Ch

Nothing too exciting today at One Bowling Green, just 10 hours of cross examinations of Tom Lasorda, former president and Vice Chairman of Chrysler, Alfredo Altavilla, chief executive of Fiat's powertrain business and, most notably, Robert Manzo of Capstone's Advisory Group, the de facto financial advisors for Ch