Market Soapbox 08/26/08
TUE, wavy gravy split tape, DJIA +27 on lower volume with midlin internals. All UP cept NDX, NAZ, SOXX.
Bonds flat 10 yr 3.78, $ up vs 1.4652€ & vs 109.669y, WTI +1% $116.24, gold up $829.6, TED spread down -3bps 1.11%.
SP500 1266, rise to 1275, fall to 1263, close 1271. NDX 1890, rise to 1901, fall to 1874, close 1886.
MON: On very tepid volume, 95% of SP500 stocks sold off, all 10 sectors declined at least 1%.
South Korean regulators warned KDB to take a cautious approach regarding Lehman acquisition.
Today, Whats in that pipe?... KDB backed away from the table as #4 US securities firm Lehman asks for 50% over book value.
Lehman may now set up a company funded by outside investors (read suckers) to buy some of its mortgage assets.
"We ran out of money." said the CEO of Carteret Mortgage, a mortgage broker in 45 states, that originated more than $4 billion in loans in 2006 is closing its doors.
FOMC minutes reveal up, up and away: "members generally anticipated that the next policy move would likely be a tightening."
Keep your eyes peeled to the sky, it could be a name brand...
As $3 billion debt refi deadline nears, Jefferson County Alabama preparing for largest muni BK ever.
Often wrong, but never in doubt, this is the Nattering Naybob and you're not.
Bonds flat 10 yr 3.78, $ up vs 1.4652€ & vs 109.669y, WTI +1% $116.24, gold up $829.6, TED spread down -3bps 1.11%.
SP500 1266, rise to 1275, fall to 1263, close 1271. NDX 1890, rise to 1901, fall to 1874, close 1886.
MON: On very tepid volume, 95% of SP500 stocks sold off, all 10 sectors declined at least 1%.
South Korean regulators warned KDB to take a cautious approach regarding Lehman acquisition.
Today, Whats in that pipe?... KDB backed away from the table as #4 US securities firm Lehman asks for 50% over book value.
Lehman may now set up a company funded by outside investors (read suckers) to buy some of its mortgage assets.
"We ran out of money." said the CEO of Carteret Mortgage, a mortgage broker in 45 states, that originated more than $4 billion in loans in 2006 is closing its doors.
FOMC minutes reveal up, up and away: "members generally anticipated that the next policy move would likely be a tightening."
Keep your eyes peeled to the sky, it could be a name brand...
As $3 billion debt refi deadline nears, Jefferson County Alabama preparing for largest muni BK ever.
Often wrong, but never in doubt, this is the Nattering Naybob and you're not.
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