Archive - May 7, 2009 - Story

One picture is worth a thousand propaganda machines:

Last week was relatively quiet in the CDS market, shadowing the complete lack of liquidity in equities. Notable traded sectors were consumer Services and Industrials which saw a net gross notional rerisking of $32 and $39 billion, on 7,127 and 3,888 contracts respectively. Aside from these two sectors, the only other sector that saw marginal rerisking was Tech/Telecom with $11 billion in notional traded. All other sectors saw a net rerisking, for a total tally in the prior week of a rerisking of $23 billion.

Last week was relatively quiet in the CDS market, shadowing the complete lack of liquidity in equities. Notable traded sectors were consumer Services and Industrials which saw a net gross notional rerisking of $32 and $39 billion, on 7,127 and 3,888 contracts respectively. Aside from these two sectors, the only other sector that saw marginal rerisking was Tech/Telecom with $11 billion in notional traded. All other sectors saw a net rerisking, for a total tally in the prior week of a rerisking of $23 billion.

• Fed's bank results reassuring [and a joke at the same time], show no insolvency (Bloomberg)
• GM posts $6 billion loss as bankruptcy looms (FT)
• SPG boosts size of follow on offering to $1 billion (Bloomberg) [only about $30 billion more to be raised by MeREIT Lynch before the rally is over]
• Trichet says EC
  

Daily "market" summary presented in easy to digest format.

Daily "market" summary presented in easy to digest format.