ratings

Tyler Durden's picture

Global Markets, S&P500 Futures Fall After Brussels Bombings





This morning's Brussels suicide attacks have led to risk-off sentiment across European asset classes, with Bunds higher and equities firmly in the red, although if the Paris terrorist attacks of November are any indication, today's tragic events may be just the catalyst the S&P500 needs to surge back to all time highs. FX markets have also been dominated by events in Brussels, with USD and JPY strengthening, while EUR and GBP softening throughout the European morning.

 
Reggie Middleton's picture

"Pfandbriefe", or "It Wasn't Me!": Why Nobody Realizes That Germany Is the Biggest Systemic Risk in the EU





Again, if it smells like a crash, walks like a crash and looks like a crash, why believe anybody who says it's not a crash?

 
Tyler Durden's picture

It's Not Over Yet - Moody's Put Deutsche Bank On Review For Downgrades





In a worryingly coincidentally timed move, Moody's has put Desutche Bank on review for downgrade, citing "execution challenges" in its new strategic plan. The worrying aspect comes from the fact the timing is entirely fitting with the ratings downgrade that started the last and most painful down-leg in Lehman's collapse...

 
Tyler Durden's picture

Day Of Reckoning Looms





Stock markets are said to “discount the future.” Maybe they see something we don’t. Or maybe they are simply preparing for a more spectacular day of reckoning by drawing more mom-and-pop investors into deeper water; as always, we wait to find out.

 
Tyler Durden's picture

S&P Adds Insult To Bill Ackman's Injury, Puts Pershing Square Holdings On Downgrade Watch





As if the historic collapse of Valeant and his hedge fund crashing by 26% YTD was not enough, moments ago S&P added insult to injury when it warned it may downgrade Pershing Square, because "Pershing Square Holdings' net asset value has dropped substantially, largely because of a precipitous decline in the market value of Valeant  Pharmaceuticals"  and "as a result, Pershing Square's debt-to-total assets ratio increased to  above 20% as of March 15, 2016, from 15% at the end of October 2015. We are placing our 'BBB' issuer credit and senior unsecured debt ratings  on the company on CreditWatch with negative implications."

 
Tyler Durden's picture

Fox Cancels Republican Debate After Trump Pulls Out





"I think it's enough," Trump says about the primetime debates.

 
Tyler Durden's picture

For The First Time, National Support For Trump Rises Above 50%





With Trump preparing to steamroll the competition in today's all important primaries, where a victory in Florida is now all but assured and only a Kasich challenge in Ohio can potentially spoil the day for the Donald - if Trump wins Florida and Ohio, it's over - earlier today he got some more good news to propell him even further: for the first time Trump has the support of a majority of Republican primary voters nationwide, scoring an all time high of 53% in support at the national level.

 
Tyler Durden's picture

The Shoe Keeps Dropping: CLOs With Negative Equity Soar By 30% In February To Record 453





Over the past month, as expected, the CLO rout has gone from bad to worse, and according to the latest Morgan Stanley CLO tracker, as of the end of February, the median US CLO 2.0 equity NAV stood at -1.99 with the number of CLO 2.0 deals’ equity tranches currently having NAV below zero soaring by 30% from 348 to 453.

 
Tyler Durden's picture

Energy Wars Of Attrition - The Irony Of Oil Abundance





In the end, the oil attrition wars may lead us not into a future of North American triumphalism, nor even to a more modest Saudi version of the same, but into a strange new world in which an unlimited capacity to produce oil meets an increasingly crippled capitalist system without the capacity to absorb it. Think of it this way: in the conflagration of the take-no-prisoners war the Saudis let loose, a centuries-old world based on oil may be ending in both a glut and a hollowing out on an increasingly overheated planet. A war of attrition indeed.

 
Tyler Durden's picture

Peak Online Lending? SoFi Starts Hedge Fund Just To Buy Loans From Itself





Concerns about the health of the US economy and the true state of the labor market will likely mean that demand for marketplace-backed paper won’t exactly be what one would call “robust” going forward. Of course that’s a problem for lenders like SoFi, which pools its loans and sells them to free up space on the books for still more loans. But don’t worry, because SoFi - which originates billions in personal loans - has an idea...

 
Tyler Durden's picture

Oil Bust Spreads As 11 Texas Towns See Credit Downgraded





Moody’s Investors Service placed 11 West Texas governments and municipalities under review for a potential downgrade last week. The review will consider downgrading the credit ratings of 11 local governments, which include Odessa and Midland, Pecos County, and 7 hospital districts. The review would affect US$477 million in outstanding public debt.

 
Tyler Durden's picture

Frontrunning: March 10





  • Pressure Is on Mario Draghi to Show ECB Has Tools to Boost Low Inflation (WSJ)
  • Euro dips as ECB sets sights on deeper negative rates (Reuters)
  • Ohio's 'dirty little secret': blue-collar Democrats for Trump (Reuters)
  • Irish Economy Expanded 7.8% in 2015, Fastest Pace Since 2000 (BBG)
  • Too Many Boats for Too Little Cargo Leaves Shippers High and Dry (BBG)
 
Tyler Durden's picture

Bond Bears Bewildered - The Case For US Treasuries





While conventional wisdom suggests that US government bond yields have nowhere to go but up, we believe the economic fundamentals will continue to weigh on interest rates for the foreseeable future.

 
Tyler Durden's picture

Is This The End Of CNBC As We Know It?





Something "disturbing" has emerged for financial pundits whose only job is to appear on CNBC, Fox Business or Bloomberg TV and to present their recurring daily permabullish view while pocketing a commission in exchange for the (almost) free advertising: a proposal which would hold them accountable for their recommendations. The result: an industry-wide panic about a post "fiduciary rule" world in which talking heads on CNBC can't simply disappear for a few months after saying that "Bear Stearns is fine" days before the bank spontaneously combusts.

 
Tyler Durden's picture

"No Signs Of Recession" Says Agency That Always Fails To Predict Recession





The top economist for Moody’s (one of the largest rating agencies in the world) said yesterday, as he unleahed the latest jobs guess, that there are absolutely zero signs of recession. These sameguys were so drunk on their own Kool-Aid that in October 2007, Moody’s announced that “the economy is not going to slide away into recession.” Everyone assumed that the good times would last forever. This is what virtually assures negative interest rates in America.

 
Syndicate content
Do NOT follow this link or you will be banned from the site!