Credit Archive

2008-05-27 Weekly Credit Graph Packet

Might be settling into a trading range. ...Read More

Q&A with Warren B

[Skip to the end] Jim Baird asks: Hey Warren, I noticed the crude spreads have slipped back into contango today. Are the ETFs up to their old tricks? For sure inventory conditions have shifted, but they always seasonally shift up around this time. Could be ETFs to some degree. More interesting, if ...Read More

Credit Recap

(an interoffice email) > > Office Depot (ODP): Announced today that it sees erosion of sales and > earnings in the 4th quarter of 2007 due to housing problems, especially in > FL and CA. These two states account for 28% of ODP’s North American sales. > First actual weak report for ...Read More

Fed regs with comments

Note they’ve also added the international arrangements as per my discussion earlier today. The same recommendations suggested in August. 7 Lending by the Federal Reserve The Federal Reserve’s authority to extend loans is a potentially powerful tool with which it can stimulate aggregate demand. Loans to depository institutions can help spur credit ...Read More

More detail on the liquidity facility

looks a lot like the recommendations Karim emailed to them: An article in the Financial Times: Fed officials have dusted down this proposal and adapted it to address the current credit market crisis. Vincent Reinhart, a fellow at the American Enterprise Institute and former chief monetary economist at the Fed, says this ...Read More

Ip: intermeeting ease/action

(an interoffice email)  Thanks, and good call! > > > > Many I spoke to post-fomc talked about an intermeeting ease on the discount > rate. > > Also, that the Fed would use their mouthpieces (Ip,e.g.) to get a message > out tomorrow if today’s reaction went poorly. > > So ...Read More

Re: credit recap

(an interoffice email) > > > > Mkt did not like the Fed move today- IG9 went from 70 out to 78.75 after the > news. CMBS cash (which had a roaring spread tightening in the morning of > about 15bp) gave all but 6bp of it back. There was a rumor ...Read More