Category: C.M.O.

C.M.O. 3.20.2009

Credit Market OverviewMarch 20, 2009 There were some dramatic reactions to the Fed announcement of its planned purchase of treasuries and additional assets in mortgage backed securities. The bond market reacted immediately with the 30yr Bond contract settling up 5…

C.M.O. 3.19.2009

Credit Market OverviewMarch 19, 2009http://creditequitycorrelation.blogspot.com/ Yesterday’s announcement that the Fed would purchase $300BN in long term Treasuries and boost its purchase of mortgage debt by $750BN to a projected total of $1.45TN caused a rally in the debt world that,…

C.M.O. 3.18.2009

Credit Market OverviewMarch 18, 2009http://creditequitycorrelation.blogspot.com/ Magicians and pickpockets practice the art of deception. In the first case we gladly pay to be deceived, in the second we would pay even more not to be. In order to perform their acts…

C.M.O. 3.17.2009

Credit Market OverviewMarch 17, 2009 “Beware the Ides of March”. For Caesar these words had dreadful consequences and from his point of you, yes, unintended too. In the financial markets there is a Caesar as well only this one might…

C.M.O. 3.16.2009

Credit Market OverviewMarch 16, 2009 CEC Portfolio Composition Throughout the turmoil that has beset the markets and the economy since the housing market became a house of cards there have been certain words or phrases have dominated the lexicon. “Credit…

C.M.O. 3.13.2009

Credit Market OverviewMarch 13, 2009 It’s a bit ironic that on Friday the 13th, after a three day 10.97% run off the lows in the SPX, the market seems to be gaining a bit of a pulse which cannot be…

C.M.O. 3.12.2009

Credit Market OverviewMarch 12, 2009 In the first part of this millennium the two major rating agencies, Moody’s and S&P, competed fiercely to place “AAA” stamps on a host of collateralized debt products being produced by those that were paying…

C.M.O. 3.11.2009

Credit Market OverviewMarch 11, 2009 Given yesterday’s respite to the selling which had reduced the S&P from it’s 903.25 2008 year end close to 676.53 on Monday I thought I would discuss something that caught my eye in the papers…

C.M.O. 3.10.2009

Credit Market OverviewMarch 10, 2009 If there is any truth to the adage: “It’s not what you know, but who you know”; then you might consider a slight variation on that theme: “It’s not who you are but who you…

C.M.O. 3.9.2009

Credit Market OverviewMarch 9, 2009 These are historic times for many reasons; The U.S.A. elected its first Black President and the economy is experiencing a contraction that brings to mind some of the most severe in this Nation’s existence. Additionally…