Posted in Uncategorized on November 19, 2008 | 1 Comment »
The massive redemptions in US based funds have pulled the hot money from international markets back to the US. As a result, the dollar has strengthened, but this can’t last for too long. As we have called for two years now, US treasury bonds are beyond junk, and printing of at least $2.6 trillion in [...]
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Posted in Uncategorized on December 8, 2007 | Leave a Comment »
The recent E-trade sale of $2.5 billion of asset backed securities (ABS) to a Citadel led consortium demonstrates the massive write-downs ahead for ABS. At a range of 11 to 27 cents on the dollar with approximately 73% of loans backed by prime mortgages, that is a dramatic write-down for prime mortgages and is actually worse than [...]
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Posted in Bankruptcy, CMBS, Federal Reserve, Herd Mentality, Interest Rates, Investment Banks, Liquidity, Rating Agencies, Real Estate, Recession, Subprime, U.S., Uncategorized on December 4, 2007 | Leave a Comment »
A credit crunch wouldn’t seem to be the best time to buy financials, but an analyst from Morningstar says there might be opportunities for investors who want to buy cheap.Sonya Morris, senior analyst at Morningstar, writes that there are ETFs focused on financials that have high-value stocks that could be poised for a turnaround.
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As if a lack of liquidity isn’t already a killer…
SAN FRANCISCO (AP) — Wells Fargo & Co. is avoiding another type of mortgage designed for borrowers who can’t qualify for conventional home loans, further restricting the amount of money flowing into the troubled real estate market.
In a notice distributed Tuesday, Wells Fargo informed mortgage brokers [...]
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