The recession is getting worse more slowly than expected: Payrolls fell by 345,000, the least in eight months, after a revised 504,000 loss in April, the Labor Department said today in Washington. The jobless rate …
Search Results for: performance
June 4, 2009
I noted yesterday that there had been a huge rally in junk bonds fuelled – at least in part – by issuer bids. The same thing is happening in asset-backeds: European companies have increased purchases …
June 3, 2009
The recent rally in junk bonds is having some interesting knock-on effects: The biggest high-yield rally ever is punishing the lowest- rated companies that may no longer be able to afford avoiding bankruptcy by exchanging …
June 2, 2009
The IMF has released a working paper by Peter Stella, The Federal Reserve System Balance Sheet: What Happened and Why it Matters: The recent expansion of the balance sheet of the consolidated Federal Reserve Banks …
June 1, 2009
Econbrowser‘s James Hamilton has put together a very good collection of links regarding the Credit Crisis. Treasuries got hit today, with a Bloomberg story suggesting a cyclical shift: “Money is rotating out of Treasuries and …
Moody's Puts BMO on Outlook Negative
Moody’s has announced it has: changed the rating outlook on the Bank of Montreal (BMO) and its subsidiaries to negative from stable. BMO is rated B for bank financial strength and Aa1 for deposits. The …
MAPF Portfolio Composition: May 2009
Trading activity increased slightly in May, with portfolio turnover of about 90%, as the market extended its gains. Trades were, as ever, triggered by a desire to exploit transient mispricing in the preferred share market …
Best & Worst Performers: May 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. May 2009 Issue Index DBRS Rating …
May 29, 2009
Remember Jefferson County? It was last mentioned on September 28 … it’s becoming more farcical all the time: Circuit Judge David Rains allowed the county in March to collect and spend the tax while the …
May 28, 2009
The Treasury Market Practices Group has released a new closing-time convention that should help the Treasury fails situation – at least to some extent: Some buy-side market participants expressed dissatisfaction with the existing market convention …