Credit Market OverviewApril 30, 2009
On Monday the headlines were all about the spread of the deadly Swine Flu. The S&P dropped 8.72 points, just a tad over 1% as fear of the unknown health hazard gripped the world’s population. One already weary of battling the financial pandemic brought on by the distribution of… »
Credit Market OverviewApril 29, 2009
At this point in the economic cycle we are all pretty familiar with what a “Junk” bond is. Some have learned this lesson by watching what they thought was not junk turn into junk. Others have hopefully learned the information without having to experience the pain. Learning is… »
Credit Market OverviewApril 28, 2009
As markets turn it is usually worth while to pay attention to the subtle signals that come along with the obvious ones. I’m not sure which category this fits into but I thought it was interesting that on a day where both Nouriel Roubini was speaking and the Milken Institute… »
Credit Market OverviewApril 27, 2009
Missouri, or “Mi-zur-y”, as it is pronounced by the residents there is also unofficially known as the “show me” state. The origin of this sobriquet is not certain but it is often attributed to U.S. Congressman Willard Duncan Vandiver, who served in the United States House of Representatives from 1897… »
Credit Market OverviewApril 24, 2009
In writing this piece every day I always try to envision it from the reader’s perspective. This includes never saying things like: “Back on such and such a date we highlighted the problems with XYZ and today they went bankrupt”. Additionally, when necessary I have no qualms about… »
Credit Market OverviewApril 23, 2009
As the mix of sometimes . . . alright constant contradictory evidence of a recovery vs. a continuation of the d . . de . . depre . . alright recession streams through much weight has been put on the shoulders of the stock market as a modern day equivalent of… »
Credit Market OverviewApril 22, 2009
Throughout the various stages of the global implosion in credit, liquidity and confidence there have been certain periods where the markets were said to have “decoupled”. In some instances that referred to the different markets within the U.S. e.g. stocks from bonds and at other times the U.S. markets as… »
Credit Market OverviewApril 21, 2009
Last week seemed like a good week to be a bank; GS painted a picture that, if you looked hard enough, contained small rays of sunshine. The view, it seemed, was so rare GS was able to hock it immediately for $5BN in stock which they are using to lead… »
Credit Market OverviewApril 20, 2009
With the stock market up for it’s sixth consecutive week the analysts will be all over the stats and comparisons on rates of change, Fibonacci numbers and whether the charts of the indexes look more like the 30’s or the 70’s. I am not sure about any of that but… »
Credit Market OverviewApril 17, 2009
Wall St. used to be dominated by the “Bulge Bracket” firms; those that were in perennial competition, mostly amongst themselves, to see who could underwrite the most securities, trade the highest volume and generally prove which among them brought the most alpha to Alpha. Taking an example from the… »
