The day was enlivened somewhat by reports of excited groupies at the Financial Forum and by the closing quote of BNS.PR.S at 26.00-99.99. Whatever happened to the good old days of bid-without? There is still …
Search Results for: fbs.pr.b
January 14, 2009
Donato Masciandaro writes an opinion piece on VoxEU: Basel 3: Supervising the credit giants with progressive capital ratios: The too big to fail rule therefore represents an authentic paradox – in the presence of risk …
January 13, 2009
BMO is buying AIG’s Canadian life insurance business. Nice to see the balance sheet of a Canadian bank being put to work. Professor Axel Leijonhufvud has written a two part series on Vox (commencing yesterday) …
January 12, 2009
You know what the trouble with TARP is? I’ll tell you what the trouble with TARP is. The trouble with TARP is there’s not enough box-ticking and there’s not enough feel-goodism and there’s not enough …
January 9, 2009
The ABX index derivatives (which reference either the lowest or the penultimate AAA tranche of structured subprime mortgage products) are getting hammered today due to fears of pending legislation: it appears that a bill to …
January 8, 2009
The Congressional Budget Office released its Ten Year Outlook for the US Economy, and my-oh-my, but it’s gloomy: Under an assumption that current laws and policies regarding federal spending and taxation remain the same, CBO …
January 6, 2008 2009
Yet another banner day for preferreds, although Fixed-Resets are (not surprisingly) reacting poorly to the flood of new issuance (RY, 6.25%+419, NA, 6.60%+463, TD, 6.25%+437) at higher coupons. Formatting of the tables is horrible today. …
MAPF Performance: December 2008
Sometimes everything works. There are times – such as June of this year – when everything goes wrong. The market doesn’t just behave in a manner differently from that expected by quantitative models, but differently …
January 5, 2009
American corporates were on fire today amidst a dramatic steepening in Treasuries; the 2-30 spread widened 26bp. Canadian 2-30s steepened as well, but only by 12bp; a mere bagatelle. Jon Danielsson has an interesting essay …
January 2, 2009
Great news! I’ve made the switchover to the “December Revision” of the HIMIPref™ Preferred Indices for daily reporting purposes. While this may not mean a lot to you, it is very important to me, since …