Market Soapbox 09/27/07
THU, up, DJIA +35 on low volume with nice internals. All UP cept DJUA, XOI.
Bonds up 10 yr yield -6bps 4.57, $ down vs 1.4146E & up vs 115.688Y, WTI crude up 3.5% $83.09, gold up $739.90
Foxtons, a discount realtor that brokered home sales for a 3 percent commission, shut its U.S. operations and may file for bankruptcy.
Banks, investors and pension funds seeking to restructure about $35 billion of Canadian ABCP said they need more time to come to an agreement.
An attorney involved: "What we're trying to do is avoid a meltdown, which would not be in the interest of any of the investors."
Montreal's La Presse newspaper reported earlier this month that the Caisse de Depot et Placement holds about C$13.6 billion of asset-backed commercial paper...
more than any other Canadian investor. Spokespeople for the Caisse, Canada's largest pension- fund manager, have refused to comment on the figure.
Yesterday: "This market needs a breather, but it appears to be headed for NDX 2121 or 2131 by early Oct." Try 2121 by Oct 3rd?
SP500, open 1527, rise to 1532. NDX open 2088, gap up 2099, fall to 2096. Often wrong, but never in doubt, this is the Nattering Naybob and you're not!
Bonds up 10 yr yield -6bps 4.57, $ down vs 1.4146E & up vs 115.688Y, WTI crude up 3.5% $83.09, gold up $739.90
Foxtons, a discount realtor that brokered home sales for a 3 percent commission, shut its U.S. operations and may file for bankruptcy.
Banks, investors and pension funds seeking to restructure about $35 billion of Canadian ABCP said they need more time to come to an agreement.
An attorney involved: "What we're trying to do is avoid a meltdown, which would not be in the interest of any of the investors."
Montreal's La Presse newspaper reported earlier this month that the Caisse de Depot et Placement holds about C$13.6 billion of asset-backed commercial paper...
more than any other Canadian investor. Spokespeople for the Caisse, Canada's largest pension- fund manager, have refused to comment on the figure.
Yesterday: "This market needs a breather, but it appears to be headed for NDX 2121 or 2131 by early Oct." Try 2121 by Oct 3rd?
SP500, open 1527, rise to 1532. NDX open 2088, gap up 2099, fall to 2096. Often wrong, but never in doubt, this is the Nattering Naybob and you're not!
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