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: performance
January 15, 2009
Another piece of history gone! Across the Curve notes that Treasury has called the 13.25 of May 2014: I recall that bond as the last bond to trade at 14 percent. It was issued as …
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 7, 2009
There is speculation that huge issuance may saturate the market for government bonds in the UK. Reception of a €6-billion issue of 10-year Bunds was sufficiently poor that the auction is being labelled a failure: …
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 Portfolio Composition: December 2008
Trading was frenzied in December as a hesitant rally in PerpetualDiscounts was swamped by a wave of tax-loss selling and then skyrocketted after the selling pressure lifted. Meanwhile, SplitShares enjoyed a sharp recovery from their …