Global Market Comments for September 10, 2008 1) Lehman (LEH) held its much anticipated conference call. The bottom line is that all of the saleable parts will be sold and the toxic waste will remain with LEH on a $600 billion balance sheet. The Q3 loss is $3.9 billion on $5.6 billion in net mark
Global Market Comments for September 9, 2008 1) The biggest financial bail out in US history, and the nationalization of the majority of American home mortgages and we only get a one day rally. Hank Paulson must be slitting his own wrists. All this at the price of doubling the national debt, from $9 trillion
Global Market Comments for September 9, 2008 1) The biggest financial bail out in US history, and the nationalization of the majority of American home mortgages and we only get a one day rally. Hank Paulson must be slitting his own wrists. All this at the price of doubling the national debt, from $9 trillion
Global Market Comments for September 8, 2008 1) Hank Paulson promised a bazooka and delivered a pea shooter. The Treasury used the Bear model once again, making Fannie Mae (FNM) and Freddie Mac (FRE) bond holders whole, while wiping out the equity owners. Trillions of dollars in debt, largely owned by China, Japan, Russia and
Global Market Comments for September 8, 2008 1) Hank Paulson promised a bazooka and delivered a pea shooter. The Treasury used the Bear model once again, making Fannie Mae (FNM) and Freddie Mac (FRE) bond holders whole, while wiping out the equity owners. Trillions of dollars in debt, largely owned by China, Japan, Russia and
Global Market Comments for September 5, 2008 1) The August unemployment rate rocketed from 5.7% to 6.1%, a five year high. The monthly non farm payroll rose an unexpected 84,000. Traders were out there from the get go, selling stocks with both hands, taking the Dow down 150 points. Bond yields are flirting with all
Global Market Comments for September 5, 2008 1) The August unemployment rate rocketed from 5.7% to 6.1%, a five year high. The monthly non farm payroll rose an unexpected 84,000. Traders were out there from the get go, selling stocks with both hands, taking the Dow down 150 points. Bond yields are flirting with all
Global Market Comments for September 4, 2008 1) Today the global recession came home to roost, knocking stocks down 350 points. If shares can't go up on a $43 drop in crude, then they can only go down. Bond yields soared, taking the ten year to 3.60%, giving you a real return of negative -1.00%.
Global Market Comments for September 4, 2008 1) Today the global recession came home to roost, knocking stocks down 350 points. If shares can't go up on a $43 drop in crude, then they can only go down. Bond yields soared, taking the ten year to 3.60%, giving you a real return of negative -1.00%.
Global Market Comments for September 3, 2008 1) The dollar spiked up to the $1.43 handle against the euro as billions poured out of the soon to be lower yielding euro and pound and into the soon to be higher yielding greenback. Since we have had no significant pull backs from the major break of