aussiebear Posted November 26, 2007 Report Share Posted November 26, 2007 http://finance.yahoo.com/intlindices Link to comment Share on other sites More sharing options...
aussiebear Posted November 26, 2007 Author Report Share Posted November 26, 2007 http://money.cnn.com/markets/morning_call/ http://www.kitco.com Energy futures Currencies/Au/Ag Link to comment Share on other sites More sharing options...
aussiebear Posted November 26, 2007 Author Report Share Posted November 26, 2007 A smidge of panic this am as shares are chucked willy-nilly on the market. All Ords has settled down a little, currently -1.4%. Property Trusts has the honour of being the biggest loser, -2.4% followed by Energy -1.9%. Telecomms is down the least, -0.4%. Miners are down although it could be worse: BHP -1.6%, RIO -2% and in the golds, Newcrest bucking the trend, +0.6%, Newmont -2.8% and Lihir -0.2%. Oils red but not looking too bad actionwise: Woodside -2%, Santos -0.4% and Caltex -1.3%. Link to comment Share on other sites More sharing options...
aussiebear Posted November 27, 2007 Author Report Share Posted November 27, 2007 A selection of articles from a thread on housingbubbleblog.com. http://thehousingbubbleblog.com/?p=3783#comments The ripples spread... ?Royal Bank of Scotland Group Plc CEO Fred Goodwin is proving that making acquisitions doesn?t always improve profitability. Goodwin?s bet that America?s housing boom would supplement slower growth in the U.K. backfired this year as U.S. foreclosures rose to a record and the world?s biggest financial institutions wrote down more than $65 billion for debt-related losses.? -------- ?Santander SA is considering making an over 1 bln eur provision in the fourth quarter to cover the decline in the value of its stake in Sovereign Bancorp, Bolsacinco reported.? ?The US subprime loans crisis and the dollar?s depreciation against the euro have had a combined impact on Sovereign, the website said, adding that Santander now has accumulated capital losses on its just under 25 pct stake in the US bank of some 1.44 bln eur.? -------- ?Allianz SE shareholders have a new reason to rue the almost $21 billion purchase of Dresdner Bank six years ago: the collapse of the U.S. subprime mortgage market.? ?Europe?s largest insurer is trading at the lowest valuation in four years on concern subprime losses at Dresdner will erode profit. Dresdner had 575 million euros ($852 million) of writedowns in the third quarter when the bank accounted for just 6 percent of Allianz?s total revenue, the Munich-based company?s reports show.? --------- From FIN Alternatives. ?Hedge funds sometimes get a bad rap in the U.S., but in Norway they are taking an epic beating following reports that four public municipalities have suffered huge losses because of hedge fund investments. The scandal involves a credit-focused Citigroup hedge fund marketed by Terra Gruppen and sold to local townships in the Scandinavian country.? ?The subprime credit crisis in the U.S. hit the fund hard, and the municipalities, four of which invested a total of $739 million, were forced to place more money into the funds or face losing their investments.? ?According to reports, one small town couldn?t even make payroll for December and was forced to cut child care and elder care programs.? Link to comment Share on other sites More sharing options...
cwd Posted November 27, 2007 Report Share Posted November 27, 2007 The heavy hitters are speaking to Professor Bernanke. There had better be a rate cut soon or it will be your fault. This article was posted by Suds on M2M and I think it is worth reposting. What concrete steps are necessary? First, maintaining demand must be the over-arching macro-economic priority. That means the Fed has to get ahead of the curve and recognise ? as the market already has ? that levels of the Fed Funds rate that were neutral when the financial system was working normally are quite contractionary today. As important as long-run deficit reduction is, fiscal policy needs to be on stand-by to provide immediate temporary stimulus through spending or tax benefits for low- and middle-income families if the situation worsens. Second, policymakers need to articulate a clear strategy addressing the various pressures leading to contractions in credit. Very likely this will involve measures that are non-traditional, given how much of the problem lies outside bank balance sheets. The time for worrying about imprudent lending is past. The priority now has to be maintaining the flow of credit. The current main policy thrust ? the so-called ?super conduit?, in which banks co-operate to take on the assets of troubled investment vehicles ? has never been publicly explained in any detail by the US Treasury. On the information available, the ?super conduit? has worrying similarities with Japanese banking practices of the 1990s that aroused criticism from American authorities for their lack of transparency, suppression of genuine market pricing of bad credits, and inhibiting effect on new lending. Perhaps there is a strong case for it, but that case has yet to be made. Third, there needs to be a comprehensive approach taken to maintaining demand in the housing market to the maximum extent possible. The government operating through the Federal Housing Administration, through Fannie Mae and Freddie Mac, or through some kind of direct lending, needs to assure that there is a continuing flow of reasonably priced loans to credit worthy home purchasers. At the same time there need to be templates established for the restructuring of mortgages to homeowners who cannot afford their resets, so every case does not have to be managed individually http://www.ft.com/cms/s/0/b56079a8-9b71-11...00779fd2ac.html Link to comment Share on other sites More sharing options...
cwd Posted November 27, 2007 Report Share Posted November 27, 2007 This is why C and the USD popped in the after hours Abu Dhabi to Bolster Citigroup With $7.5 Billion Capital Infusion By Robin Sidel Word Count: 904 | Companies Featured in This Article: Citigroup, Sony, Bank of America, J.P. Morgan Chase, Bear Stearns, Citic Securities Citigroup Inc., seeking to restore investor confidence amid massive losses due in credit markets and a lack of permanent leadership, is receiving a $7.5 billion capital infusion from the investment arm of the Abu Dhabi government. The investment by the Abu Dhabi Investment Authority will help rebuild Citigroup's capital levels, which have been eroded by a credit crunch that began in the summer. Citigroup Chief Executive Officer and Chairman Charles Prince resigned earlier this month after the bank, which had already written off billions of dollars, said it was facing as much as $11 billion more in losses. Citigroup announced ... http://online.wsj.com/article/SB1196130393...hoo_hs&ru=yahoo Link to comment Share on other sites More sharing options...
aussiebear Posted November 27, 2007 Author Report Share Posted November 27, 2007 All Ords closed -0.6%, off the lows. Most sectors recovered somewhat although Property Trusts, -2.2% didn't seem to be quite so favoured. IT was the next lowest, -0.8% and Materials -0.7%. Consumer Staples and Telecomms were the only greens, both +0.2%. Miners were down but not out: BHP -0.4%, RIO -1.6%. In the golds, Newcrest did ok, +1.4% and Lihir scraped up a gain, +0.5%. Newmont finished -2.3%. Not a lot of action in the juniors which ended flat to down. Oils picked up a touch: Woodside +0.1%, Santos +2.6% and Caltex -1.3%. Mostly bearish in Asia: Honkers -2.2%, Nikkers -2.1%, Taiwan -3.5% and China -1.5%. [edit: not sure about those percentages, Yahoo seems frozen] Over to UK/Europe: http://finance.yahoo.com/intlindices?e=europe Link to comment Share on other sites More sharing options...
cwd Posted November 27, 2007 Report Share Posted November 27, 2007 Another classic from Shorty on M2M QUOTE(Jimbo @ Nov 26 2007, 06:53 PM) Schumer expressed his concerns in a letter sent today to Federal Housing Finance Board Chairman Ronald MacDonald. Relax, Chuck. They're just key clicks. If they flush that $50 Billion we can just make more. Ain't fiat fine? Link to comment Share on other sites More sharing options...
potatohead Posted November 27, 2007 Report Share Posted November 27, 2007 ADIA, the sovereign wealth fund of the government of Abu Dhabi, is buying equity units that convert into Citigroup shares at prices ranging from $31.83 to $37.24 per share, on dates ranging from March 15, 2010, to Sept. 15, 2011, the U.S. bank said. The units will pay 11 percent annual interest. you were just given the date range for the bottom in the market...this is when the shite will hit the fan... No way the pigmen are going to give this company away...they will just play with the billions till then Link to comment Share on other sites More sharing options...
potatohead Posted November 27, 2007 Report Share Posted November 27, 2007 al-Qaida Wing: Bin Laden Message Coming CAIRO, Egypt (AP) - Al-Qaida's media wing said Monday it will soon release a new message from Osama bin Laden. It said the message will be addressed to European countries, but did not elaborate. The real reason for the rally............... Link to comment Share on other sites More sharing options...
Drano Posted November 27, 2007 Report Share Posted November 27, 2007 I sense an amazin' AMZN short squeeze dead ahead. This article talks at the end about online retailing and how it's so important, blah blah blah. http://bigtech.blogs.fortune.cnn.com/2007/...st-tech-stocks/ Link to comment Share on other sites More sharing options...
MrHanky Posted November 27, 2007 Report Share Posted November 27, 2007 Dow futures up 116 at around 4am another pop and drop or monster squeeze? Link to comment Share on other sites More sharing options...
Mies van der Rump Posted November 27, 2007 Report Share Posted November 27, 2007 Citi/Saudi Ahhhhh, now we see why all the tough talk of the dollar/riyal peg a week or two ago. Saudi's to Bush and Bennie: "Listen little boys, you be a nice little men (patting them on the head like puppies) and STFU about us. We will be coming to America with cash money to start purchasing interests in your Corporations. We don't want ANY problems like we ran into with the Port deal you mucked up for us last year. Capiche?" The game continues! Link to comment Share on other sites More sharing options...
Mies van der Rump Posted November 27, 2007 Report Share Posted November 27, 2007 CITI/SAUDI: The Investment Authority will receive equity units that pay an 11 percent annual yield until they are converted into Citigroup common shares at a price of up to $37.24 a share between March 15, 2010, and Sept. 15, 2011. Link to comment Share on other sites More sharing options...
Sudaca Posted November 27, 2007 Report Share Posted November 27, 2007 I have to laugh. I thought the AbuDhabi noize would give C a pop for a few days. It looks like it may not make it through today. Futures lost half of their overnight bonar and C is up less than 1%. Link to comment Share on other sites More sharing options...
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