Archive - Jun 17, 2009

Tyler Durden's picture

The Confidence Game In Quotes





Austrian Filter has taken the time to put together all the relevant quotes over the past 2 years that demonstrate how profoundly Bernanke and Paulson have been misrepresenting (or simply misunderstanding) just how extensive the crisis we are in, is. One can only imagine why anyone would ever believe anything Ben Bernanke (or any other vapid disseminator of groundless optimism) has to say anymore, after two years of outright hyperbole and unfounded green shootery.

 

Tyler Durden's picture

Blind Re-Raise To The Fed





Even with the market oscillating lower, then higher, and finally closing unchanged, the trend in bonds has started getting ugly again. The bond vigilantes will need progressively more to be placated: a several % drop in the S&P just ain't gonna cut it no more.

2s10s closed at the day's (and 4 day) wides with a trend to accelerating widening.

 

Tyler Durden's picture

Daily Credit Summary: June 17 - Much Ado About NufFin





Spreads were broadly wider in the US as all the indices deteriorated (with HY once again underperforming IG but the latter ending well off its wides of the day).

 

Tyler Durden's picture

REIT CBL's Brief And Painful Stay On The Goldman Sachs Conviction Buy List





For a good example of just how worthless of a tool for investors (and useful for persuading follow on offering "participation") the Goldman Sachs Conviction Buy list is, look no further than the recent performance of REIT CBL & Associates, coupled with the recommendations on the stock by Goldman Sachs REIT analyst Jonathan Habermann.

 

Tyler Durden's picture

REIT CBL's Brief And Painful Stay On The Goldman Sachs Conviction Buy List





For a good example of just how worthless of a tool for investors (and useful for persuading follow on offering "participation") the Goldman Sachs Conviction Buy list is, look no further than the recent performance of REIT CBL & Associates, coupled with the recommendations on the stock by Goldman Sachs REIT analyst Jonathan Habermann.

 

Tyler Durden's picture

REIT CBL's Brief And Painful Stay On The Goldman Sachs Conviction Buy List





For a good example of just how worthless of a tool for investors (and useful for persuading follow on offering "participation") the Goldman Sachs Conviction Buy list is, look no further than the recent performance of REIT CBL & Associates, coupled with the recommendations on the stock by Goldman Sachs REIT analyst Jonathan Habermann.

 

Tyler Durden's picture

Hugh Hendry Musings On Deflation





hat tip root

 

Tyler Durden's picture

Intraday Credit/Mortgage Weakness





Equity markets may need to be reigned in a little - after the recent drop in mortgage rates and a steepening of the bond curve (thanks to a not insubstantial drop in equities), the S&P target makers may need to adjust the target for equities again. With the S&P running higher for the day, both the 2s10s is steepening and mortgages are starting to run wider. Time to take the market lower to see at what level we get a new equilibrium.

 

Tyler Durden's picture

Intraday Credit/Mortgage Weakness





Equity markets may need to be reigned in a little - after the recent drop in mortgage rates and a steepening of the bond curve (thanks to a not insubstantial drop in equities), the S&P target makers may need to adjust the target for equities again. With the S&P running higher for the day, both the 2s10s is steepening and mortgages are starting to run wider. Time to take the market lower to see at what level we get a new equilibrium.

 

Tyler Durden's picture

Intraday Credit/Mortgage Weakness





Equity markets may need to be reigned in a little - after the recent drop in mortgage rates and a steepening of the bond curve (thanks to a not insubstantial drop in equities), the S&P target makers may need to adjust the target for equities again. With the S&P running higher for the day, both the 2s10s is steepening and mortgages are starting to run wider. Time to take the market lower to see at what level we get a new equilibrium.

 

Tyler Durden's picture

Eddie Bauer Files For Bankruptcy





Eddie Bauer, which emerged from bankruptcy as a standalone company in 2005 after former owner Spiegel had filed for chapter 11 protection, has just filed for bankruptcy again, the latest casualty of the real "green shoots free" consumer "spending" landscape.

Clothing retailer Eddie Bauer Holdings Inc. filed on Wednesday for Chapter 11 bankruptcy court protection, the latest retail casualty of the recession.

 

Tyler Durden's picture

S&P: United States Safe... In Near Term





The good news:

Currently, 17 of the 124 sovereigns we rate have 'AAA' long-term ratings and stable outlooks. These include close G7 peers, such as Canada, France, and Germany.

We believe the U.S.'s key credit strengths include:

-- A high-income, highly diversified economy, with unusually flexible labor and product markets.

 

Tyler Durden's picture

S&P: United States Safe... In Near Term





The good news:

Currently, 17 of the 124 sovereigns we rate have 'AAA' long-term ratings and stable outlooks. These include close G7 peers, such as Canada, France, and Germany.

We believe the U.S.'s key credit strengths include:

-- A high-income, highly diversified economy, with unusually flexible labor and product markets.

 

Tyler Durden's picture

S&P: United States Safe... In Near Term





The good news:

Currently, 17 of the 124 sovereigns we rate have 'AAA' long-term ratings and stable outlooks. These include close G7 peers, such as Canada, France, and Germany.

We believe the U.S.'s key credit strengths include:

-- A high-income, highly diversified economy, with unusually flexible labor and product markets.

 

Tyler Durden's picture

Soc Gen: "Expect New Equity Lows In H2", China Is The Global Achilles Heel





Just released, a new and highly relevant Weekly Strategy report out from Albert Edwards of Societe Generale. Not only does Edwards, who was previously vilified then praised for calling the 1997 Asian Bubble, see a significant drop in equities before the end of the year, his main concern is every optimist's greatest green shoot: China.

 
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