FINal(er) Countdown

UPDATE: MS just traded $11.99 -3.77% on the Egan Jones downgrade news

Overnight saw credit markets crushed overseas in Australia and Asia, Europe continue to sink into the abyss and now pre-market equities in the US are showing serious weakness with no sign of a bounce. We already discussed CDS this morning (which are all gapping wider and the curve inverting/flattening further, and the Waffle train just keeps on coming, now +35 at 303/313) but a quick look at pre-market stocks shows the pain in the TBTFs:

  • BAC -2.7% at $5.38 (at 3/12/09 levels)
  • MS -2.2% at $12.2 (at 12/03/08 levels)
  • C -2.3% at $22.58 (at 3/16/09 levels)
  • GS -1.6% at $88.6 (at 3/11/09 levels)
  • JPM -2.1% at $28.05 (at 4/08/09 levels)
  • WFC -1.6% at $22.8 (just above recent lows)


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