Archive - May 31, 2009 - Story

Just in case anyone needs to read page after page (for 68 in total) of a highly focused "research report" on why GGP is a phenomenal investment, look no further (from Ackman's Ira Sohn presentation). It is likely that investors in the PSIV fund will also be happy to read comparable such materials for why their Ackman-managed investment in Target is down 93%.

A few new debt issuance datapoints for inquiring minds.

First - not only has HY issuance in May skyrocketed, but IG issuance is also on a tear. The past 2 weeks have seen a staggering amount of new investment grade issues: just over $28 billion. The average new issue coupon has dropped to a weighted average of 6.508%, while the current average spread to Treasuries on the 37 new issues since May 18 is T+322.

A few new debt issuance datapoints for inquiring minds.

First - not only has HY issuance in May skyrocketed, but IG issuance is also on a tear. The past 2 weeks have seen a staggering amount of new investment grade issues: just over $28 billion. The average new issue coupon has dropped to a weighted average of 6.508%, while the current average spread to Treasuries on the 37 new issues since May 18 is T+322.

A few new debt issuance datapoints for inquiring minds.

First - not only has HY issuance in May skyrocketed, but IG issuance is also on a tear. The past 2 weeks have seen a staggering amount of new investment grade issues: just over $28 billion. The average new issue coupon has dropped to a weighted average of 6.508%, while the current average spread to Treasuries on the 37 new issues since May 18 is T+322.

Just when you thought there is no escape from a quadrillion dollar deficit, this comes along

[youtube=http://www.youtube.com/watch?v=7ADncN9HIa4&hl=en&fs=1]

And on that note, Geithner "No one is going to be more concerned about future deficits than we are" (Bloomberg)
54% of GM bondholders approve debt swap plan (Reuters)

Ok. You fuck me, then snub me. You love me, you hate me. You show me a sensitive side, then you turn into a total asshole. Is this a pretty accurate description of our relationship, Barack? This most recent nonsense is only the latest schizoid break. As you are no doubt aware, conspiracy theories are flying to and fro suggesting that the list of dealers that would be confiscated/dissolved/appropriated/killed by Chrysler the Auto Task Force was politically generated.

Ok. You fuck me, then snub me. You love me, you hate me. You show me a sensitive side, then you turn into a total asshole. Is this a pretty accurate description of our relationship, Barack? This most recent nonsense is only the latest schizoid break. As you are no doubt aware, conspiracy theories are flying to and fro suggesting that the list of dealers that would be confiscated/dissolved/appropriated/killed by Chrysler the Auto Task Force was politically generated.

Ok. You fuck me, then snub me. You love me, you hate me. You show me a sensitive side, then you turn into a total asshole. Is this a pretty accurate description of our relationship, Barack? This most recent nonsense is only the latest schizoid break. As you are no doubt aware, conspiracy theories are flying to and fro suggesting that the list of dealers that would be confiscated/dissolved/appropriated/killed by Chrysler the Auto Task Force was politically generated.

The New York Times reporting that according to people briefed on the matter, just over 50% of GM's holders of $27.2 billion in bonds have agreed to support the automaker's proposed bankruptcy plan. Apparently those 15% warrants (which could eventually bump up the bondholders' stake in the company to 25%) made all the different in the world.