Housing Archive

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

Dec 11 balance of risks update

Labor markets remain stronger than expected, right up through this morning’s Manpower survey for next quarter. Inflation risks remain elevated, with estimates of 1.5% PPI and 0.6% CPI the consensus for Thursday and Friday, and CPI core moving higher as well. While several funding spreads have widened vs. fed funds, absolute rates ...Read More

Washington Mutual to take writedown, cut jobs

Yet another shoe that didn’t fall. No business interruption, no change to aggregate demand, a relatively few layoffs over time, and this is a major California lender where housing is hurting perhaps the most of any state. Washington Mutual to Take Writedown, Cut Jobs (Update1) 2007-12-10 17:00 (New York) (Adds writedown in ...Read More