How ZIRP and SNAC Made It Easier To Short Credit

Tyler Durden's picture

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oogs66's picture

So many analysts talking about how Junk spreads are CHEAP !!!  yet, they can't really tighten because they are cheap to very short dates and compared to treasury yields of zero.  the Fed has made looking at spreads somewhat useless.  the fact that sell siders are trying to sell high yield bonds based on spread is a death trap waiting to happen

Careless Whisper's picture

The Careless Whisper Morning Update

 

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sqz's picture

How many sovereign CDS use the Standard North American Corporate (SNAC) or Standard European Corporate (STEC) protocol?

I'm guessing that number is negligible or zero.

GMadScientist's picture

I guarantee you ZIRP has postponed my first home purchase indefinitely. With no rate risk and prices dropping...why buy now?

Village Smithy's picture

And at the other end of the age spectrum I gaurantee you that ZIRP has hastened my last home sale, and many of my friends, because we are running out of cash.

bania's picture

what's the over/under on the Deer in Headlights graphic today?

oogs66's picture

high - though deer in headlights might be getting too pleasant of an image

El Viejo's picture

What about K Mart ?  They're like a rubber ball. They have bounced a few times since 1966.

 

slewie the pi-rat's picture

zirpity doo dah,

zirpity yay...

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