Accrued Interest

We used to have fun commenting about the bond market, including Treasuries, Mortgages, Municipals, and Corporates. But that was before the dark times. Before deleveraging. Contact the Author: accruedint at gmail.com

Saturday, December 29, 2007

You're wrong Assured Guaranty. You have that power too.

Berkshire Hathaway is starting its own municipal bond insurer , Berkshire Hathaway Assurance Corp. There are three questions. First, what im...

Monday, December 24, 2007

What is a Tender Option Bond (TOB)?

(Alternative title for long-time readers: There's a meteorite that hit the ground near here. I want to check it out. It won't take l...

Friday, December 21, 2007

I want proof, not leads

I'm contacted by new bloggers a fair amount, and I honestly at least check out the sites I'm sent. Unfortunately, I don't have a...

Clumsy and Random Thoughts

I was out of the office yesterday, finishing up some Christmas shopping. Here are a few quick thoughts. MBIA's disclosure surprises me....

Thursday, December 20, 2007

Hokey Religions

When I started college, I wanted to be in politics. I was already of a Libertarian mindset, and had it in my mind that I could change the wo...

Tuesday, December 18, 2007

Housing prices: We're in for it as it is!

I have been working for several weeks on a model for what the fundamentally correct price for homes. I'll tell you right off the bat tha...

Saturday, December 15, 2007

I only hope that when the data is analyzed...

... a strength can be found. Or at least, that's FGIC's only hope. Moody's placed the erstwhile GE subsidiary on negative watch ...

Friday, December 14, 2007

Well, what would you like?

I've said it before . We've moved beyond "good" solutions to the mortgage crisis. There is no reasonable step which would ...

Wednesday, December 12, 2007

Well, Killinger, did WaMu survive?

Apparently Washington Mutual is not as well capitalized as we were lead to believe. As recently as November 7 , Washington Mutual management...

Tuesday, December 11, 2007

You don't have to do this to impress me!

I'm a believer in two things when it comes to monetary policy. First, it is in the best interests of everyone that long-term inflation r...

Monday, December 10, 2007

MBIA: I wonder who they found to pull that off

What did we learn today? As you probably know by now, Warburg Pincus has agreed to invest $500 million in MBIA stock (about 13% of the comp...

Thursday, December 06, 2007

Your MBS pool will freeze before you get past the first marker!

Bush and Paulson on the tape with their new sub-prime freeze plan . I've commented that I think it's a good idea, at least in concep...

Wednesday, December 05, 2007

Too big to fail? Not this ship, sister

First, spam e-mail of the day. " Open jars in seconds! " is the message header. Now that's a product I need, because I've ...

Monday, December 03, 2007

Money Markets: And I thought they smelled bad... On the outside!

I'm increasingly convinced that when we, as investment pros, think back on the sub-prime debacle of 2007 in ten years, we'll think o...

RSS Readers: Do you copy?

Do you read Accrued Interest over RSS? If so, please visit the site and vote in the poll I just put up on the RSS subject. If I get a strong...

Friday, November 30, 2007

Not a bad bit of rescuing, huh?

No, it doesn't solve all our problems. No, it doesn't mean those that are over-leveraged (cough SIV cough) aren't still in troub...

Thursday, November 29, 2007

E*Trade: There's no sense in your risking yourself on my account

Ah it seems like only yesterday, but it was a whole two weeks ago when E*Trade appears to be on the verge of bankruptcy. Now Citadel has in...

Wednesday, November 28, 2007

This is it boys!

Freddie Mac's $6 billion preferred offering is supposedly going to yield between 8.5 and 9%. It has a five year call feature, after whic...

Tuesday, November 27, 2007

AMBAC: Episode II

My Thanksgiving special on AMBAC got quite a bit of attention, and I have unfortunately been swamped and unable to give too many good respo...

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About Me

Accrued Interest: I oversee taxable bond trading for a small investment management firm. Opinions expressed on this website may not reflect the opinions of my employers. Strategies described here should not be taken as advice, and may not be the strategies being used for my clients. Take this website as the egotistical ramblings of a bond geek and nothing more. E-mail is accruedint *at* gmail.com or find on Facebook.

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