Archive - Jun 2, 2009

Tyler Durden's picture

The "Other" Consumer Index Posts Major Market Divergence





Everyone, and Bernanke especially, knows that the highly objective UMich CONsumer CONfidence index is a wonderful leading and lagging indicator to the market, which is why lately it has been getting the rose colored glasses treatment. Curiously, the other consumer index, the ABC Consumer Index staged a major trend reversal this week with the one thing it should be mostly fond of - the market. While the market has kept on going higher as more retail investors look at the Con Con and figure all is hot, the weekly ABC index begs to differ.

 

Tyler Durden's picture

The "Other" Consumer Index Posts Major Market Divergence





Everyone, and Bernanke especially, knows that the highly objective UMich CONsumer CONfidence index is a wonderful leading and lagging indicator to the market, which is why lately it has been getting the rose colored glasses treatment. Curiously, the other consumer index, the ABC Consumer Index staged a major trend reversal this week with the one thing it should be mostly fond of - the market. While the market has kept on going higher as more retail investors look at the Con Con and figure all is hot, the weekly ABC index begs to differ.

 

Tyler Durden's picture

The "Other" Consumer Index Posts Major Market Divergence





Everyone, and Bernanke especially, knows that the highly objective UMich CONsumer CONfidence index is a wonderful leading and lagging indicator to the market, which is why lately it has been getting the rose colored glasses treatment. Curiously, the other consumer index, the ABC Consumer Index staged a major trend reversal this week with the one thing it should be mostly fond of - the market. While the market has kept on going higher as more retail investors look at the Con Con and figure all is hot, the weekly ABC index begs to differ.

 

Tyler Durden's picture

SPY Block Trading Update





Everyone's favorite Prime Brokers were working overtime today, chomping at the bits for those 3.1 and 3.9 million SPY blocks. Amusingly, JPM which today hopes to have met and exceeded Tiny Tim's capital needs (surprisingly Morgan Stanley thought the same before it was told it needs to raise more and more), had its CEO say the following yesterday:

 

Tyler Durden's picture

SPY Block Trading Update





Everyone's favorite Prime Brokers were working overtime today, chomping at the bits for those 3.1 and 3.9 million SPY blocks. Amusingly, JPM which today hopes to have met and exceeded Tiny Tim's capital needs (surprisingly Morgan Stanley thought the same before it was told it needs to raise more and more), had its CEO say the following yesterday:

 

Tyler Durden's picture

SPY Block Trading Update





Everyone's favorite Prime Brokers were working overtime today, chomping at the bits for those 3.1 and 3.9 million SPY blocks. Amusingly, JPM which today hopes to have met and exceeded Tiny Tim's capital needs (surprisingly Morgan Stanley thought the same before it was told it needs to raise more and more), had its CEO say the following yesterday:

 

Tyler Durden's picture

SPY Block Trading Update





Everyone's favorite Prime Brokers were working overtime today, chomping at the bits for those 3.1 and 3.9 million SPY blocks. Amusingly, JPM which today hopes to have met and exceeded Tiny Tim's capital needs (surprisingly Morgan Stanley thought the same before it was told it needs to raise more and more), had its CEO say the following yesterday:

 

Tyler Durden's picture

Whitney Tilson On The Housing Mirage





Particularly notable are slides 63 and 64 for all who care to see beyond the propaganda.

 

Tyler Durden's picture

Daily Credit Market Summary: June 2 - Trend's Still Your Friend





Spreads were tighter in the US as all the major indices improved (with HY and IG making new contract tights once again). Indices typically underperformed single-names with skews widening in general as IG's skew decompressed as the index beat intrinsics, HVOL underperformed but narrowed the skew, ExHVOL outperformed pushing the skew wider, XO underperformed but compressed the skew, and HY's skew widened as it underperformed.

 

Tyler Durden's picture

The Propaganda Shoots Emerge





When the green shots have wilted, it is time to take out the hard core propaganda shoots.

Now that's some hot error checking at CNBC.

 

Tyler Durden's picture

The Propaganda Shoots Emerge





When the green shots have wilted, it is time to take out the hard core propaganda shoots.

Now that's some hot error checking at CNBC.

 

Tyler Durden's picture

The Propaganda Shoots Emerge





When the green shots have wilted, it is time to take out the hard core propaganda shoots.

Now that's some hot error checking at CNBC.

 

Tyler Durden's picture

Jim Palotta, George Noble Closing Shop





WSJ reports that George Noble and former Tudor superstar Jim Palotta will close their hedge funds, return cash to investors. Will be interesting if the insane market closing action over the past two days is related to their unwinds.

 

Tyler Durden's picture

Exclusive: Zero Hedge Receives FOIA Response On Perella-Weinberg Compensation





After several months, the FDIC has been kind enough to provide Zero Hedge readers with the information requested on Perella Weinberg's compensation (good to know bank liquidation pays a nice $4.6 million a year), and the balance on the DIF (which is somewhat stale as the FDIC recently reported that information in its quarterly update and Zero Hedge discussed the topic). Under the umbrella of the Freedom Of Information Act, I present the information as received from the FDIC unadulterated.

 

Tyler Durden's picture

More On The VIX - MORE Correlation





In response to a flood of queries, the correlation between the VIX and MOVE (ML's Treasury vol index), is presented below: while the R^2 over the past year is sketchy at 0.585, historical correlation climbs to a sturdier 0.7

 
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