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IDS World Markets Tues 28th August 07


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t?s=%5EAORD

 

 

Down today but the action is by no means bearish. All Ords -0.4% with relatively minor drops in most sectors. Telecomms is down the most, -1.5% followed by Healthcare, -0.9%. Of the three green sectors, Consumer Staples has the most gain, +1.1%.

 

A smallish drop on the miners: BHP -0.4%, RIO -0.6% and in the golds, Newcrest -0.3% and Newmont -1.2%.

 

Oils low volume: Woodside +0.5%, Santos +1.3% and Caltex -1.2%.

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w?s=%5EAORD

 

 

A bit of a rollercoaster today. All Ords closed -0.1% with a reshuffle in the sectors. Property Trusts popped into the lead, +2.2% followed by Energy +0.9%. At the other end Telecomms dropped the most, -1.8%.

 

In the miners, RIO went green, +0.7% and BHP remained slightly red, -0.2%. Golds remained down, Newcrest -0.9% and Newmont -1.6%.

 

Oils did ok, Woodside +2.1% and Santos +0.8%.

 

Mixed in Asia but at this stage Sth Korea is the only market with a significant gain, +1.5% with Honkers and Singers -0.7% and Nikkers -0.1%.

 

 

And on to UK/Europe:

 

t?s=%5EFTSE

 

t?s=^GDAXI

 

t?s=^FCHI

 

http://finance.yahoo.com/intlindices?e=europe

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Rams Turns to Australian Market After Failure in U.S.

 

Aug. 28 (Bloomberg) -- Australia's Rams Home Loans Group Ltd. said it will try to sell more mortgage-backed bonds in the domestic market after failing to refinance A$6.18 billion ($5 billion) of short-term debt in the U.S. this month.

 

The Sydney-based company plans to increase its funding from residential mortgage-backed securities in Australia to A$4.07 billion from A$3.8 billion as of June 30, it said in a statement.

 

Rams, which touts loans for as much as 100 percent of the purchase price of a home under the slogan ``No deposit? No worries!'' started trading its shares the same day that the risk of owning corporate bonds soared to the highest on record in the U.S. and Europe.

 

No Australian lender has sold mortgage-backed securities in the local market for a month as the cost of selling debt has soared, underscoring the difficulties faced by non-bank home- loan firms in financing their businesses amid the current credit crisis.

 

Members Equity Bank Ltd., a Melbourne-based non-bank lender, was forced to scrap a A$500 million sale of home loan-backed bonds Aug. 3 after failing to find buyers.

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Low clouds here tonight which have broken right at 50 past the hour, just in time to get a glimpse of totality. Moon looks copper-ish colored.

 

Anybody else watching the ecllipse?

603493[/snapback]

 

 

Ah, roger, captain over. Gimme a vector, victor.

 

Yes. the view from Jensen Beach, FL is great. However, The no-see-ums and mosquitos and such are keeping me inside and looking out the window. Clear sky and plenty dark enough.

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Ok 33 past the hour local. Middle of totality. Clear skies now.

 

Not much light polution here in the Antepodes.

 

Broke out the Jason Indy 500 Signature 7x35-6.5's.

 

Nice view-looks like one of those Florida Valencia oranges.

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ECB offered ? 210 bn in 1 week money- which is a net ? 65 bn drain

 

Still,  ? 210 bn is a lot of Franklins.

 

http://www.ecb.int/mopo/implement/omo/html/index.en.html

603496[/snapback]

 

 

But a drain is a drain! That's the only thing that matters. The crisis is apparently easing for now, but the trend of destruction of liquidity by the central banks isn't. Those of you who recognize how earhshakingly crucial this is to our future will be ahead of the game.

 

Tanks for reporting that Al! Muy importante!

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Good Morning!

 

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