Archive - Jun 17, 2009

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.