Archive - May 2009

The IWM unwind is getting more and more desperate, and as the IOIA chart below demonstrates, some brokers seem to be nicely axed with a solid inventory in the name: note the indicating broker and the constant barrage of trades (times are PST). One wouldn't really call it domination, but if the word fits. Readers who wish to catch up on the Indications Of Interest (IOIA) Bloomberg function and its implications, please click here...

The IWM unwind is getting more and more desperate, and as the IOIA chart below demonstrates, some brokers seem to be nicely axed with a solid inventory in the name: note the indicating broker and the constant barrage of trades (times are PST). One wouldn't really call it domination, but if the word fits. Readers who wish to catch up on the Indications Of Interest (IOIA) Bloomberg function and its implications, please click here...

The IWM unwind is getting more and more desperate, and as the IOIA chart below demonstrates, some brokers seem to be nicely axed with a solid inventory in the name: note the indicating broker and the constant barrage of trades (times are PST). One wouldn't really call it domination, but if the word fits. Readers who wish to catch up on the Indications Of Interest (IOIA) Bloomberg function and its implications, please click here...

At 2 pm, the House Financial Services Committee will hold a live webcast hearing (here for the link) discussing credit rating agencies, which should be quite entertaining and potentially violent as the RA storm clouds have been gathering for a while now, even more so since recently CT AG Blumenthal has made it his crusade to destroy the monopoly of S&P and Moody's with the current administration.

The UST 2s10s30s curve is breaking out of recent resistance levels, with the 2s10s steepening much more than the 10s30s, implying the 10Y is the most out of whack in the treasury curve. The trend has persisted since December implying not only that Quantitative Easing has lost all its power (is the Fed refocusing its purchasing efforts elsewhere?), but that the spread to mortgage rates which are 10Y duration hedged will continue suffering until it goes negative pretty soon.

The UST 2s10s30s curve is breaking out of recent resistance levels, with the 2s10s steepening much more than the 10s30s, implying the 10Y is the most out of whack in the treasury curve. The trend has persisted since December implying not only that Quantitative Easing has lost all its power (is the Fed refocusing its purchasing efforts elsewhere?), but that the spread to mortgage rates which are 10Y duration hedged will continue suffering until it goes negative pretty soon.

Taking a cue from the Renaissance conference call, in which Jim Simons stated that the main reason for RIEF's massive underperformance was the fatal positioning with regards to stock betas (long low beta stocks, short high beta stocks), Zero Hedge decided to analyze the performance of stock by beta bucket.

Taking a cue from the Renaissance conference call, in which Jim Simons stated that the main reason for RIEF's massive underperformance was the fatal positioning with regards to stock betas (long low beta stocks, short high beta stocks), Zero Hedge decided to analyze the performance of stock by beta bucket.

Taking a cue from the Renaissance conference call, in which Jim Simons stated that the main reason for RIEF's massive underperformance was the fatal positioning with regards to stock betas (long low beta stocks, short high beta stocks), Zero Hedge decided to analyze the performance of stock by beta bucket.

For readers who want to learn all about insolvency, and its interprestation by the Commitee Of Science And Technology, please click this link.

The questions are shockingly relevant and to the point - multiples more interesting than any Barney Frank scapegoating session.

In the latest spin of the Mark Patterson saga, Joe Weisenthal of Clusterstock notes that the most interesting developments may still come. Joe states:

Just to drive in the point of what is really happening on the green shoots front, I present a housing starts and housing permits chart. Yes, those second derivative inflection points - they turned out to be smoke and mirrors. Just as will all other second derivatives, as the economy continues collapsing, albeit a little slower.

Just to drive in the point of what is really happening on the green shoots front, I present a housing starts and housing permits chart. Yes, those second derivative inflection points - they turned out to be smoke and mirrors. Just as will all other second derivatives, as the economy continues collapsing, albeit a little slower.

Just to drive in the point of what is really happening on the green shoots front, I present a housing starts and housing permits chart. Yes, those second derivative inflection points - they turned out to be smoke and mirrors. Just as will all other second derivatives, as the economy continues collapsing, albeit a little slower.

• Housing construction drops 12.8% in April, after 8.5% drop in March, to record low of 458k, CNBC, doing 180 degrees from yesterday: "This is good news as we need to hit 0 and kill excess inventory fast." (AP and Bloomberg). - Futures still positive...