Headline inflation in the US came in a 4.3% yoy today, powered by Food (+4.8%) and Energy (+21.4%). The core rate, which excludes these two items, was +2.3% yoy. Not a good report, according to …
Search Results for: iqw
December 13, 2007
Well … it looks like yesterday’s shock-and-awe effort to provide liquidity has failed – assuming the point of the exercise was to lower EURIBOR: The cost to borrow for three months remained at 4.95 percent, …
December 12, 2007
James Hamilton of Econbrowser took a look at yesterday’s market action and got confused: the January fed funds futures contract, which historically has proven to be an excellent predictor of the monthly average fed funds rate. …
December 11, 2007
The Fed cut rates by 25bp, to 4.25%. Many were disappointed it wasn’t 50bp. Stocks tanked. But bonds benefitted from asset reallocation, even in Canada. ‘Nuff said? A very active day in the preferred market, …
December 3, 2007
Sorry – month-end is a busy time for me, so again, there’s not much colour today! However, I was most interested in Accrued Interest’s essay on the implications of the Florida Money-Market Fund Freeze, together …
November 30, 2007
An extremely busy day to finish the month! Note that these indices are experimental; the absolute and relative daily values are expected to change in the final version. In this version, index values are based …
November 26, 2007
The big news today was Quebecor World’s suspension of preferred dividends; but that has its own post. There was a fair bit of news on the MLEC/Super-conduit front. HSBC is bailing out its SIVs, taking …
November 21, 2007
Menzie Chinn of Econbrowser wrote a good piece yesterday reviewing the dollar’s decline, noting: So while there is a tremendous amount of inertia in a currency’s reserve role, what we might be seeing now is …
November 20, 2007
I do apologize … many things came up today, so you’ll just have to do your own literature review. PerpetualDiscounts didn’t go down today! Note that these indices are experimental; the absolute and relative daily …
Distressed Preferreds?
After the Globe and Mail published an article on Distressed Preferreds, I received another interesting eMail from another correspondent: I wondered if you could advise me if you consider any of these “distressed preferreds” worthy of investment? …