Friday, November 28, 2008

We need? What about you need?

›
The Fed's new Term ABS Loan Facility (TALF) announced this week could be a significant step in improving credit availability. While man...
12 comments:
Thursday, November 27, 2008

Accrued Interest Holiday Edition

›
Its time for a new tagline for the blog. So in proper geek fashion, I've created a poll. The options are... Republic credits? Credits ar...
9 comments:
Wednesday, November 26, 2008

And NOW young monoline... you will die

›
Moody's has downgraded FSA and Assured Guaranty on Friday, claiming that with the future of municipal monoline insurance uncertain, it ...
13 comments:
Tuesday, November 25, 2008

My God, they aren't kidding!

›
The Fed will be buying up to $600 billion in debt and MBS backed by Fannie Mae and Freddie Mac. Yeah, that'll move the market. Today we ...
Friday, November 21, 2008

Goldman Sachs: General, count me in

›
The FDIC announced their final rules on the so-called Temporary Liquidity Guarantee Program, or TLGP (Pronounced "Teelgup"). This...
5 comments:
Thursday, November 20, 2008

Update on 30-year Swaps

›
On October 21, I wrote that 30-year swap spreads , which were hovering around zero at the time, was a another sign that lack of liquidity wa...
6 comments:

3.44% for 30-years? Where do I sign up!?!?

›
Okay, someone is obviously short the long-bond and can't find a buyer, because not only did it rise 5 points during the regular session,...
8 comments:
Wednesday, November 19, 2008

CMBS: This is no cave...

›
If you are like many of our readers, you are a bond guy and are well aware that CMBS (commercial mortgage-backed securities) are in an absol...
22 comments:
Tuesday, November 18, 2008

The New Order

›
Much has been made of the November 15 deadline for many hedge fund clients to submit redemption requests. While we wait to see what the even...
5 comments:
Friday, November 14, 2008

Told you about the long bond...

›
30-year Treasury up 2 1/2 points this morning. Told ya so. Wouldn't be surprised to see it get down to 4.15% but there is resistance the...
3 comments:
Thursday, November 13, 2008

30-year auction: They're just not in demand anymore

›
The 30-year auction was... something less than good. You don't need to hear any of the auction statistics (which can be deceiving, don...
5 comments:

Asset-backed securities and the future of consumer lending

›
So... no buying of mortgages from banks in the TARP . What are they doing? On the same day they pulled the rug from under our banking system...
3 comments:
Wednesday, November 12, 2008

AI to Paulson: A Jedi must have the deepest commitment

›
Hank... Hank... you've got to be kidding me. Its clear to you that buying illiquid mortgages "is not the most effective" way t...
11 comments:
Friday, November 07, 2008

Investigation is implied in our mandate

›
In the post from Thursday, I argued that the current recession is the result of classic over investment, in this case in housing. This bring...
26 comments:
Thursday, November 06, 2008

I'm taking an awful risk here... this had better work...

›
Is the TARP working? Are rate cuts working? Stimulus package? Is the TSLF working? What about the GSE conservatorship? Is that going to work...
15 comments:
Monday, November 03, 2008

BREAKING NEWS! NOT MUCH HAPPENING!!

›
Volatility in stocks is unusually low today. I keep expecting CNBC to run one of their classic BREAKING NEWS headlines along the bottom of t...
1 comment:

Deflation: A new threat

›
Does the rate cut matter? We know that 1% fed funds isn't making mortgage rates lower, or spurring banks to lend. So what's the poin...
10 comments:
Thursday, October 30, 2008

20% high-yield defaults? Don't underestimate the power of the autos!

›
On Monday the yield on the Merrill Lynch High Yield Master index reached a shocking 19.6%. That yield is admittedly enticing, but the real q...
9 comments:
Tuesday, October 28, 2008

We know about the reality...

›
Don't ruin the fantasy. http://www.rallymonkey.com/oldvideo.php
3 comments:

Nothing has changed with Agency debt

›
On Thursday, James Lockhart,head of the Federal Housing Finance Agency (formerly OFHEO), said that the U.S. government is providing a "...
1 comment: