Archive - 2009 - Blog entry
July 30th
FHFA is One Year Old - No Cause for Celebration
Submitted by Bruce Krasting on 07/30/2009 20:24 -0500No punch bowl at this party. Lots of slides of the mortgage mess. Did Mr. Lockhart confirm the rumor that the Agencies are going to merge with Ginnie Mae?
Leave Dennis Alone!
Submitted by Benjamin N. Dover III on 07/30/2009 19:14 -0500CNBC's Dennis Kneale isn't a smarmy, arrogant blowhard with no journalistic scruples. He just seems that way.
Successful Auction?
Submitted by Bruce Krasting on 07/30/2009 12:59 -0500Another surprise in bond land. This time an upside. The dealers do not know how to price all this paper.
Marketing Treasuries
Submitted by The Debt Bitch on 07/30/2009 05:34 -0500I love watching the press struggle with the issue of Asia buying U.S. debt. You can look at three different papers in a two day period and get three different answers on the topic. They are buying more. They will sell it all. They are doing nothing. We are fine. We are fucked. Who the hell knows?
July 29th
Fannie and Freddie Preferred Stock - Update
Submitted by Bruce Krasting on 07/29/2009 18:56 -0500Fannie and Freddie Pref are up 200% in five weeks. Who knows what?
C - Still on the NO BORROW list
Submitted by Bruce Krasting on 07/29/2009 16:59 -0500C goes off the NO BORROW list on Friday. The value of the common is just a guess.
Former Countrywide Execs Start New Subprime Company; Hilarity Ensues
Submitted by PragmaticIdealist on 07/29/2009 12:16 -05002006? Ancient history dude.
Cramer on BAC - Caveat Emptor
Submitted by Bruce Krasting on 07/29/2009 10:29 -0500Cramer calls for a 35% pop in BAC. What's he selling?
July 28th
2 Year Note - No Juice for the Carry Trade
Submitted by Bruce Krasting on 07/28/2009 20:33 -0500The cover rate on today's auction stunk. What rate on this Note would attract the leveraged players? Not 1.08%.
Selling Traditional Marriage Short
Submitted by Benjamin N. Dover III on 07/28/2009 18:41 -0500Now that the SEC has finally taken action to complicate the lives of the vermin known as short sellers, it can turn to the next dire threat to capitalism: gay marriage.
GECC - Is Cash Flow Negative?
Submitted by Bruce Krasting on 07/28/2009 11:08 -0500A question for the Corp.Fin. gurus. What does it mean when Consolidated Ratio of Earnings to Fixed Charges falls below one?
"Fair" Value of the S&P
Submitted by J.D. Swampfox on 07/28/2009 09:27 -0500Richard Ripp compares top-down to bottom-up estimates and concludes that top-down estimates have proven to be more accurate over time.
July 27th
Debt Repudiation – On the Table
Submitted by Bruce Krasting on 07/27/2009 21:19 -0500The NY Times describes a new breed of bad creditors, "Ruthless Defaulters". Ruthless or just fed up and angry? What is the 'tipping point' where default crosses over to repudiation?
Commercial Real State
Submitted by nickbarbon on 07/27/2009 20:59 -0500A phenomenal graph from Sean Keane at Triple T Consulting showing commercial real estate loan proportions of Tier 1 bank capital across the US...
Leading Economic Hope
Submitted by nickbarbon on 07/27/2009 18:59 -0500Floyd Norris at the NYT is excited about the Index of Leading Economic Indicators. Let's peek under the hood to see what's going on.
