Commodities High; Dollar Low; Alt-A Decline; Mortgage Insurance Defaults Rise;Dell; AIG
Commodities Up...
The CRB index is up 12% this month, with silver up 16%, copper up 17% and wheat up 24%.
This is the largest monthly percent gain for the CRB Index since July 1973.
Dollar punked... The dollar fell to the 2 1/2-year low against the yen at 104.67 and over $1.52 per Euro.
Alt-A slumping... Valuations for AAA rated securities backed by Alt-A loans, slumped 10 to 15% this month.
More defaults... According to Mortgage Insurance Companies of America:
U.S. homeowners with private mortgage insurance defaulted on 37% more loans in December than a year earlier.
Dell Down... Dell, the world's 2nd biggest PC maker, reported an unexpected drop in Q4 profit.
Net income decreased 6%, In the past 8 months, Dell has trimmed 3,200 shares. Dell shares have dropped 15% this year.
Largest loss ever on CDO writedowns... American International Group, the world's largest insurer by assets, posted its biggest quarterly loss ever.
The Q4 net loss of $5.29 billion, compared with profit of $3.44 billion a year earlier.
AIG guaranteed $62.4 billion in CDO collateralized debt obligations as of Nov. 25.
The CRB index is up 12% this month, with silver up 16%, copper up 17% and wheat up 24%.
This is the largest monthly percent gain for the CRB Index since July 1973.
Dollar punked... The dollar fell to the 2 1/2-year low against the yen at 104.67 and over $1.52 per Euro.
Alt-A slumping... Valuations for AAA rated securities backed by Alt-A loans, slumped 10 to 15% this month.
More defaults... According to Mortgage Insurance Companies of America:
U.S. homeowners with private mortgage insurance defaulted on 37% more loans in December than a year earlier.
Dell Down... Dell, the world's 2nd biggest PC maker, reported an unexpected drop in Q4 profit.
Net income decreased 6%, In the past 8 months, Dell has trimmed 3,200 shares. Dell shares have dropped 15% this year.
Largest loss ever on CDO writedowns... American International Group, the world's largest insurer by assets, posted its biggest quarterly loss ever.
The Q4 net loss of $5.29 billion, compared with profit of $3.44 billion a year earlier.
AIG guaranteed $62.4 billion in CDO collateralized debt obligations as of Nov. 25.
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