Daily Archives: March 9, 2009 @ 3:00 pm (Monday)

Bernanke to ‘deploy all tools’ except the right ones

[Skip to the end] The right tools have yet to be deployed: Lending to member banks on an unsecured basis (demanding collateral is redundant).   Providing banks with term financing at rates set by the FOMC (mortgage rates, etc. can … Continue reading

Posted in CBs, Fed | Tagged |

Summers on stimulus

[Skip to the end] World Coordinated Stimulus Needed: White House Mar 9 (Reuters) NOT!!! We are much better of doing it all unilaterally. This is the cost of having leadership that does not understand our monetary system. Summer’s comments, ahead … Continue reading

Posted in Uncategorized |

OPEC February Crude Output Down 770,000 Bbl/Day to 27.775 Million

[Skip to the end] The Saudis are back to being swing producer as they set price and let output adjust. World inventories are estimated to be falling by over 1.4 million barrels per day, as confirmed by the contango quickly … Continue reading

Posted in Oil | Tagged , |

Re: Consumer credit up

[Skip to the end] (email exchange) >    >   On Mon, Mar 9, 2009, Mauer wrote: >    >   And then there’s this, which nobody focused on last week, fixating instead on the employment >   numbers. >    Yes, another indicator moving sideways rather than down. … Continue reading

Posted in Banking | Tagged |

China News Highlights

[Skip to the end] Looks like they are showing signs of having bottomed as well, and continue to push demand with fiscal adjustments to sustain employment? The post Olympic lull also contributed to the Great Mike Master’s Inventory liquidation which … Continue reading

Posted in China | Tagged |

Comments on Krugman

[Skip to the end] Yes, but unspoken is the automatic stabilizers are quietly adding to the deficit with each move down, and the curves will cross and the economy start to improve when the deficit gets large enough, whether it’s … Continue reading

Posted in Uncategorized | Tagged |

USD LIBOR inching out as ECB USD swap lines move lower

[Skip to the end] Maybe the ECB is quietly asking their banks to reduce their USD borrowings, causing them to bid up USD LIBOR? [top]

Posted in Banking | Tagged |

SOV CDS Indicative Level

[Skip to the end] Starting this week off higher as equity markets sag. Systemic risk in the eurozone remains elevated. Wide spreads in the US, UK, Sweden, etc. show markets misunderstand the risks of governments with their own non-convertible currency … Continue reading

Posted in Uncategorized | Tagged |

Crude oil inventories falling

[Skip to the end] Higher crude prices means dollars are easier to get overseas and will tend to weaken the dollar. And the talk is higher oil prices will give the Fed more reason to keep rates low as the … Continue reading

Posted in Oil | Tagged , |

2009-03-09 CREDIT

[Skip to the end]   Some new wides and the stock market hits new lows. IG On-the-run Spreads (Released 5:02 EST) IG6 Spreads (Released 5:02 EST) IG7 Spreads (Released 5:02 EST) IG8 Spreads (Released 5:02 EST) IG9 Spreads (Released 5:02 … Continue reading

Posted in Credit |