Archive for May, 2009

Credit Market Overview
May 29, 2009
A quick look back on the three days that has been this post Memorial Day holiday shortened week so far has seen 54.37 S&P points of movement or about 6.13% of where the index stood last Friday vs. 19.83 S&P points worth of direction (up) equaling 2.24% or about 1/3rd of… »

Credit Market Overview
May 28, 2009
On Tuesday the S&P Case/Schiller home price index data was released and it was;  not good.  The S&P stock index decided it was a good reason and traded 2.63% or 23.33 points higher.  Yesterday, the National Association of Realtors released existing home sales data which turned out to be at least… »

Credit Market Overview
May 27, 2009
If there was any indication needed whether or not the market is still practicing the denial that pushed the S&P 98.39 points last September when Hank’s initial idea for TARP was leaked it was all to evident yesterday.
Ignoring a “nucular” detonation and the firing of three missiles by one of the… »

Credit Market Overview
May 26, 2009
http://www.marketstrategiesmgmt.com
When the Tim Geithner first brought up the concept of stress testing the banks it was thought that things would not go well as the market place suspected many of the institutions would be found to be insolvent.  The results have been released and in typical rumor vs. news fashion the… »

Credit Market Overview
May 22, 2009
The telegraph was one of the earliest forms of long distance communication. Longer than you can ride and shout from horseback, send smoke signals or spend hoping the carrier pigeon doesn’t soak up any lead on his way back home.
Like “Coke” and “Xerox”, “telegraph” has also become a generic term to… »

Credit Market OverviewMay 21, 2009

The amount of new issuance in the both the equity and debt markets has been prodigious since the first drips appeared to be falling from the ice that had frozen the capital markets after Lehman took on Arnold “Da Gubenator” Schwarzenegger’s character in Batman, Mr. Freeze.
This has been heralded as… »

Credit Market OverviewMay 20, 2009

As the S&P does its damnedest to stay above the 900 line and the bulls root for last Friday’s close of 882.88 to be the next highest low that comes when strings of higher lows and highs attach themselves together and grow horns it is worth remembering that the 882 level… »

Credit Market OverviewMay 19, 2009

Like the bedraggled hiker that catches up to the group only to have them start off again without the one who needs the rest actually getting any; Citigroup (C) issued $2BN bonds last Friday without the FDIC’s backing. The “too big to fail” guarantee, while not explicitly priced into the… »

Credit Market OverviewMay 18, 2009

The only thing possibly shorter than a “New York” minute is a “TV” minute as the latter seems to go by in a handful of seconds and nothing even close to 60.
Having done research on the OTC derivatives regulation proposed in a letter to Congress by Treasury Secretary Tim Geithner… »

The CEC Strategy returned -0.89% YTD for 2009 vs. -10.30% for the S&P with a correlation coefficient of -0.18 to the Index.  The Strategy has generated Alpha of 2.02183% with a Beta of -0.02462.  Beta’s t-Stat is -3.3246 is statistically significant proof of a negative albeit small correlation with the S&P.  Comparing Standard Deviations; that… »