Archive - Jun 2009

• US Leading Indicators, Factory gauge climb in evidence slump is easing.
• New York City’s unemployment rate climbs to 9%; 361,000 are jobless, highest since '93.
• Air France-KLM may need to cut a further 3,000 jobs says CEO.
• Apple Inc. shares have climbed 59 percent since Jobs take on leave.
• Dongfeng Motor., China’s third-largest automaker, will partner with Detroit Electric Holdings.
• GE objects bank separation plan but favors broad regulator.
• Abraxas Petroleum and Abraxas Energy Partners, L.P.
  

• Dick Bove, who still may be bullish on Lehman, says to Buy Citigroup, $4 Target, sees 2010 EPS of $0.13!

Well, the "for broke" part is hopefully a pun. But based on their most recent holdings, which among others include 104% of the IYR Real Estate ETF, Credit Suisse is certainly ploying something here (one hopes, or else that is one big fat finger).

The state unemployment data from the BLS is likely significantly flawed but it makes sense to visualize it nonetheless.

Latest NYSE Program Trading data out. Program Trading volume continues to decline, with 3.4 billion shares traded, down 700 million from the week before.

Well, maybe Scott Galloway too.

In yet another splinter approach from the route espoused by Bernanke, the Dallas Fed shares its thoughts on limiting irresponsible lending. The Fed's solution is the imposition of loan-to-value caps which would make a lot of sense, but would substantially curb loan demand - a course of action that the Federal Reserve would fight tooth and nail against in its attempt to deflate debt by a new wave of excess (and even more irresponsible as it would be taxpayer backstopped) lending.

Submitted by John Bougearel of Structural Logic

• US Leading Indicators, Factory gauge climb in evidence slump is easing.
• New York City’s unemployment rate climbs to 9%; 361,000 are jobless, highest since '93.
• Air France-KLM may need to cut a further 3,000 jobs says CEO.
• Apple Inc. shares have climbed 59 percent since Jobs take on leave.
• Dongfeng Motor., China’s third-largest automaker, will partner with Detroit Electric Holdings.
• GE objects bank separation plan but favors broad regulator.
• Abraxas Petroleum and Abraxas Energy Partners, L.P. announce merger intention.

• Dick Bove, who still may be bullish on Lehman, says to Buy Citigroup, $4 Target, sees 2010 EPS of $0.13!
• Companies of Commercial real estate "billionaire" Halabi default on $1.9 billion in debt after 50% drop in property value (Bloomberg)
• E.U. leaders say no more stimulus (Marketwatch)
• The two sides of the inflation debate (Morgan Stanley)

Bedtime reading for the wonkish insomniac-cum-strange attractor seeker in all of us. Additionally, London readers are lucky - Dr. Paul Wilmott, one of the best known and most respected financial quants, will host on July 8 a free quant and event driven trading forum called 'Evolving Strategies in the New World Order', covering topics such as:

- Transforming your strategies to respond to changing liquidity dynamics
- Generating alpha with differentiated content
- Going global:opportunities and challenges
- Effective strategies for the current market environment

• Schapiro says SEC to force more disclosure on "dark pools" (Bloomberg)
• Senate attacks role of Fed in Geithner reform (FT)
  

Total Federal Reserve balance sheet assets for the week of June 17 of $2,053 billion consisting of:

Total Federal Reserve balance sheet assets for the week of June 17 of $2,053 billion consisting of: