CreditSights has recommended against the CIT restructuring: CIT Group Inc. bondholders should sell their investments as efforts by the 101-year-old commercial lender to restructure have “very little hope of succeeding,” according to CreditSights Inc. CIT …
Search Results for: performance
MAPF Portfolio Composition: September 2009
Turnover was steady in September at about 65%. Trades were, as ever, triggered by a desire to exploit transient mispricing in the preferred share market (which may the thought of as “selling liquidity”), rather than …
Best & Worst Performers: September 2009
These are total returns, with dividends presumed to have been reinvested at the bid price on the ex-date. The list has been restricted to issues in the HIMIPref™ indices. September 2009 Issue Index DBRS Rating …
October 2, 2009
CIT has launched its restructuring: Under the plan, CIT Group Inc. and CIT Group Funding Company of Delaware LLC (Delaware Funding) are launching exchange offers for certain unsecured notes. If the Company does not achieve …
October 1, 2009
I have updated the post FRB Boston Paper on Use of Funds from Housing ATM with new related BoC research focussing on the Canadian Boom of the late eighties. The Committee of European Banking Supervisors …
September 30, 2009
I’ve been wondering when there would be some more news on CIT! Here’s a rumour: Citigroup Inc. and Barclays Capital are offering to provide financing to CIT Group Inc., the commercial lender that’s struggling to …
September 29, 2009
The Ontario Securities Commission has released the 2009 Compliance Team Annual Report. Lots of volume, with 61 issues in the HIMIPref™ indices trading over 10,000 shares, but not much price action today, with PerpetualDiscounts down …
FRB Boston Paper on Use of Funds from Housing ATM
The Boston Fed has released a Public Policy Discussion Paper by Daniel Cooper titled Did Easy Credit Lead to Economic Peril? Home Equity Borrowing and Household Behavior in the Early 2000s, which dispels at least …
September 28, 2009
Accrued Interest worries that Fed purchases are distorting the Agency MBS market: Obviously the Fed wants to buy the current coupon because that’s the one that influences current borrowing rates. But as a consequence, the …
YLD.PR.A & YLD.PR.B: Semi-Annual Financial Statements
Split Yield Corp has announced: Split Yield Corporation (“Split Yield”) reports financial results for the six months ending July 31, 2009. The six month period ending July 31, 2009 was one of the most tumultuous …