Tyler Durden's picture

Afternoon Amusement - Trader Talk





"'Nigel,

I have got to say that I think you have been rather less than even-handed in the way that you handled our small disagreement last week about how employees should conduct themselves in (and out of) the workplace. And being placed on suspension by that sycophantic loser in HR was just too much; if he was just a bit taller, I would have punched him!"

 
Tyler Durden's picture

Afternoon News Round Up





  • Fannie, Freddie to refinance for homeowners with 125% loan to value ratio. If this is not borderline criminal, nothing is.
    - Move lifts current 105% limit to aid more borrowers struggling to make payments.
    - GSEs to offer new 25 year mortgage for some refinances to accelerate debt payments.
  • Fed purchases USD 2.99bln Aug. 2019 - Feb 2026, Offer/Cover  3.17 vs. Prev. auction of similar maturity 3.14
  • China has asked the G8 Italy summit to discuss issue of new global reserve currency
  •  
    Tyler Durden's picture

    Themis Trading: "Principal Program Trading Is A Way To Get The Market Go In Your Direction"





    Joe Saluzzi of Themis Trading on Bloomberg TV, discussing several critical topics previously covered extensively on Zero Hedge: the real state of the economy, high frequency program trading and outright market manipulation. Must Watch.

     
    Marla Singer's picture

    Excuse Our Dust





    We're in the process of testing network configurations today, so you might find yourself enduring some delay. Never fear.

     
    Tyler Durden's picture

    Is Goldman Legally Frontrunning Its Clients?






    Everyone who is anyone on Wall Street has at some point used the Goldman 360 portal whether for research, news, keeping a track of prime brokerage portfolio or, disturbingly, for trading, via the REDI Plus 9.0 platform (now loaded with enhanced algo trading features to make life for you, dear soon to be frontran Goldman client, so much easier). A second widely accepted Wall Street concept is that a disclaimer is the last thing that anyone reads, if ever. Yet after taking a close look at the Goldman disclaimer for the 360 portal, which is an umbrella waiver or all downstream websites, including REDI, one discovers a curious gem

     
    Tyler Durden's picture

    Daily Highlights: 7.1.09





  • Consumers' confidence in economy unexpectedly falls in June, halting a 3-month upward trend.
  • Dow Jones industrial average rose 11% during the quarter, while the S&P 500 index surged 15.2%.
  • FDIC to propose tough guidelines for PE investors seeking to buy failed banks.
  • Home prices fall 0.6% as rate of decline slows.
  • IMF’s board of directors plans to issue as much as $150B of bonds.
  •  
    Tyler Durden's picture

    Frontrunning: July 1





  • US ADP Employment Change (Jun) M/M -473K vs. Exp. -395K (Prev. -532K, Rev. -485K) (Bloomberg)
  • Fed's Yellen says rates may stay near zero for years (Bloomberg)
  • Banks falling 23% since may foreshadow S%P slump (Bloomberg)
  • Karl Denninger: To Dennis Kneale - You're an idiot (Market Ticker)
  • Too Bernanke to fail? (WSJ)
  •  

    Should We Create This Poll?





    * Yes
    * No

     
    Cornelius's picture

    New Zealand trade numbers for May





    A quick look at New Zealand's increasing trade surplus

     
    Tyler Durden's picture

    Dennis Lets Zero Hedge Have It





    Dennis Kneale takes a stab at Zero Hedge and its readers. Zero Hedge stabs back.

     
    Tyler Durden's picture

    Cohen & Steers Funds Merge





    Two odd press releases after the close today, both pertaining to our favorite REIT focused fund. According to the first, Cohen & Steers Advantage Income Realty Fund, Inc. ("RLF"), Cohen & Steers Worldwide Realty Income Fund, Inc. ("RWF"), Cohen and Steers Premium Income Realty Fund, Inc. ("RPF") and Cohen & Steers Quality Income Realty Fund, Inc. ("RQI") have all merged with and into RQI. It apeears that even despite the magical ramp of all REITs this quarter, those pesky "size matters" issues have reared their ugly heads for the 4 various closed-end funds.

     
    Tyler Durden's picture

    David Rosenberg, Shockingly, Realistic





    David Rosenberg on the mother of all jobless recoveries

     
    Tyler Durden's picture

    Market Wrap 6.30.09





    An unexpected drop in consumer confidence data saw equity indices fall on concerns the economic recovery will be slow. Lower WTI prices weighed on the major US averages after the release of consumer confidence sparked a flight to safety in the USD. In turn this saw Exxon (-0.95%) top the laggers table in the S&P 500 index. Following the initial downward move in equity indices, prices were range bound and trading sideways, though did move slightly higher after positive comments on the economy by Fed’s Bullard. Finally, at the closing bell DJI closed down 0.96% at 84447.53, S&P 500 closed down 0.85% at 919.34 and NASDAQ100 closed down 0.44% at 1477.25

     
    Marla Singer's picture

    Shake Off The Yoke Of Oppression





    The tyranny of email registration has been lifted.

     
    Tyler Durden's picture

    May San Diego Home Sales Increase Revised From 89% to 6.5%





    More and more economic data manipulation is coming to the fore, none of which as blatantly obvious as the California housing market. Some of it is palatable, but when home sales in San Diego get revised from 89% to 6.5% due to a "data glitch", it is no wonder that increasingly more Americans realize every single day they are being blatantly lied to by an Administration whose sole purpose in life is to give out 10 pair of rose-colored glasses to every possible voter in the next election.

     
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