Archive - Apr 29, 2009 - Story

Last week was characterized by unprecedented rerisking in financial names, to the tune of $145 billion in notional change, representing over 28 thousand contracts. This was caused by an imbalance in New Trades ($173 billion) versus Full Terminations ($297 billion). Was the credit market a little trigger happy to say all green shoots in financials are in place? Or merely the equity driven short squeeze has forced even the usually cooler fixed income heads to push the "cover" button.

Largest drop since early 1980s

Bloomberg reports that the former bastion of massively mismarked distressed loans and crazy CDS trades, DB Zwirn is to be taken over by Fortress Management. And by taken over we mean liquidated.

• GDP down -6.1% on -4.7% consensus; CNBC: "This is better than it looks"

• Ken Lewis - dead man walking (Bloomberg)
• Citigroup scrambles to raise capital (FT)
• Swing flu is no a global pandemic (FT)
• Obama refuses to take blame for terror plane photo shoot, voters still drink kool-aid (WSJ and

All you wannabe masters of the universe who want to bypass the three- to five-year apprenticeship at Goldman Sachs and go straight to the motherlode of manipulative machinations, look no further than this job posting on the Ladders, in which none other than the bastion of free market communism, aka the New York Fed, is seeking a Financial Analyst/Corporate Bond Analyst.

All you wannabe masters of the universe who want to bypass the three- to five-year apprenticeship at Goldman Sachs and go straight to the motherlode of manipulative machinations, look no further than this job posting on the Ladders, in which none other than the bastion of free market communism, aka the New York Fed, is seeking a Financial Analyst/Corporate Bond Analyst.