Bruce Krasting's blog

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Fannie and Freddie Preferred Stock - Update





Fannie and Freddie Pref are up 200% in five weeks. Who knows what?

 
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C - Still on the NO BORROW list





C goes off the NO BORROW list on Friday. The value of the common is just a guess.

 
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Cramer on BAC - Caveat Emptor





Cramer calls for a 35% pop in BAC. What's he selling?

 
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2 Year Note - No Juice for the Carry Trade





The cover rate on today's auction stunk. What rate on this Note would attract the leveraged players? Not 1.08%.

 
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GECC - Is Cash Flow Negative?





A question for the Corp.Fin. gurus. What does it mean when Consolidated Ratio of Earnings to Fixed Charges falls below one?

 
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Debt Repudiation – On the Table





The 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?

 
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The Growth Trade Vs. The Bond Calendar





Treasury has a load of paper for sale in August. The market is not set up for the big supply. Could we have another test of the 4% 10 year?

 
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A Slip of the Tongue by Geithner?





Timmy G. ducked another question on the future of Fannie and Freddie today. Maybe he gave a clue what is brewing while he was ducking.

 
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Red Berries – Brown Shoots





Raspberries as an LEI? What's Lord Maynard Keynes got to do with this? Illegal workers don't count? We have how much effective unemployment?

 
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A Mortgage Report - What's Ginnie Mae Up To?





Ginnie Mae is growing fast. Are they going to assume the roll of the bankrupt Fannie Mae and Freddie Mac? Is the 'Shadow System' taking a bank holiday? Are the commercial banks really making new loans?

 
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Jumbo Mortgage Defaults on the Rise in the Sun Shine States?





Big buck foreclosures trump green shoots.

 
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