If you want to know the sentiments of the investors and how confident they are on our financial system, look nowhere but here.
NEW YORK (MarketWatch) - The Treasury Department sold $32 billion in four-week bills Tuesday at a yield of zero, implying investors purely wanted the assurance that they would get their principal back. Investors [...]
The publicly reported facts so far are the following:
1) the gross notional volume of CDS contracts written on Lehman is around $400bn.
2) At the October 10 auction organized by the ISDA defaulted Lehman bonds secured a recovery value of 8.7 cents on the dollar. CDS protection sellers are thus called to pay out 91.3 cents [...]
1. Valuing distressed securities is very time consuming and the idea of an auction process is a non-starter. There’s no way that any of those securities are comparable to each other. The terms are different. The collateral is different, for example, houses in different locations have different patterns of default.
2. If the government receives [...]
By Greg Robb
WASHINGTON (MarketWatch) — The Federal Reserve on Monday announced that it was providing more liquidity into global money markets to ease recent strains. The Fed said it was boosting the size of its auctions of liquidity to commercial banks and the size of its swap agreements from a number of foreign central banks [...]
The U.S. government’s seizure of Fannie Mae and Freddie Mac has triggered more than $1 trillion of credit default swaps tied to the mortgage giants.”
That trigger fired the starting gun for a stampede to dump as much toxic paper as possible into the lap of the US Government. Just what bankers and money managers [...]
News Corp. drops Newsday bid: report
By Michael Kitchen, MarketWatch
Last Update: 1:15 PM ET May 10, 2008
News Corp. has pulled its bid for Newsday, according to a company spokesman
quoted in a Wall Street Journal report Saturday.
The move makes Cablevision Systems Corp. (CVC) the likely victor of the auction
for the Long Island daily, the report said.
News Corp. [...]
Ambac Financial Group Inc. (ABK) said it has worked with clients to help them
lower their borrowing costs on auction- and variable-rate debt.
The New York bond insurer said since January, more than $700 million in
conversions to Ambac-wrapped fixed-rate deals have been approved.
In addition, Ambac said it has been “active” in exploring and implementing
various amendments to provide [...]
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