Perhaps It Is Time For Another Statement From Jefferies
4 statements later, countless promises, several Leucadia triple-downs, and one 2-page CUSIP statement later and... Jefferies is down 9.2%. Perhaps the market was not all that convinced that "Jefferies is fine" after all. Our spidey sense is tingling that yet another statement by Jefferies is imminent. Also, it may be time for Jefferies to bite the bullet and unload the other half of its sovereign flow book: that sure will teach the market to doubt management's good intentions. And never mind the spread on liquidation firesales: after all who cares about EPS on a day like today.