Contributing Editors' Blog Entries
Marketing Treasuries
Submitted by The Debt Bitch on 07/30/2009 - 05:34 I love watching the press struggle with the issue of Asia buying U.S. debt. You can look at three different papers in a two day period and get three different answers on the topic. They are buying more. They will sell it all. They are doing nothing. We are fine. We are fucked. Who the hell knows?
Fannie and Freddie Preferred Stock - Update
Submitted by Bruce Krasting on 07/29/2009 - 18:56 Freddie Preferred Stock Fannie and Freddie Pref are up 200% in five weeks. Who knows what?C - Still on the NO BORROW list
Submitted by Bruce Krasting on 07/29/2009 - 16:59 C goes off the NO BORROW list on Friday. The value of the common is just a guess.
Former Countrywide Execs Start New Subprime Company; Hilarity Ensues
Submitted by PragmaticIdealist on 07/29/2009 - 12:16 Countrywide 2006? Ancient history dude.Cramer on BAC - Caveat Emptor
Submitted by Bruce Krasting on 07/29/2009 - 10:29 BAC Cramer calls for a 35% pop in BAC. What's he selling?2 Year Note - No Juice for the Carry Trade
Submitted by Bruce Krasting on 07/28/2009 - 20:33 Carry Trade The cover rate on today's auction stunk. What rate on this Note would attract the leveraged players? Not 1.08%.
Selling Traditional Marriage Short
Submitted by Benjamin N. Dov... on 07/28/2009 - 18:41 Now that the SEC has finally taken action to complicate the lives of the vermin known as short sellers, it can turn to the next dire threat to capitalism: gay marriage.GECC - Is Cash Flow Negative?
Submitted by Bruce Krasting on 07/28/2009 - 11:08 A question for the Corp.Fin. gurus. What does it mean when Consolidated Ratio of Earnings to Fixed Charges falls below one?
"Fair" Value of the S&P
Submitted by J.D. Swampfox on 07/28/2009 - 09:27 Richard Ripp compares top-down to bottom-up estimates and concludes that top-down estimates have proven to be more accurate over time.Debt Repudiation – On the Table
Submitted by Bruce Krasting on 07/27/2009 - 21:19 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?
Commercial Real State
Submitted by nickbarbon on 07/27/2009 - 20:59 A phenomenal graph from Sean Keane at Triple T Consulting showing commercial real estate loan proportions of Tier 1 bank capital across the US...Leading Economic Hope
Submitted by nickbarbon on 07/27/2009 - 18:59 Floyd Norris at the NYT is excited about the Index of Leading Economic Indicators. Let's peek under the hood to see what's going on.
On Wall Street Compensation
Submitted by Anal_yst on 07/27/2009 - 16:52 Information Arbitrage had a good summary of the Wall Street compensation argument over the weekend, and given the tension surrounding Phibro's Andrew Hall of-late, I think its high time to bring some logic and reason to the debate.Surprise! Earnings are Down
Submitted by nickbarbon on 07/26/2009 - 22:40 Nothing new here for regular readers but I thought the two histograms at the bottom of this graphic nicely contextualize earnings surprises within the broader macro picture.