Monthly Archives: May 2009

Pablo Triana: The VIX Is A Volatility Ghost James K. Glassman: Driving the Bond Markets to Ruin P.J. O’Rourke: The End of the Affair Niall Ferguson: How economists can misunderstand the crisis // Continue reading →

As everybody knows, Zimbabwe dumped its currency in January in favor of the U.S. dollar and other currencies and, guess what, things are looking up. Inflation was down 1.1% last month, this compares with up 200 to 500 million percent … Continue reading →

Missed that one, Dartmouth lost its Triple A rating. Related: Dartmouth College, Its Bond Rating Downgraded, Takes On More Debt Big Moan on Campus: Bond Downgrades // Continue reading →

Japan: 38.90 bp (+0.90) Germany: 40.75 bp (+0.73) U.S.A.: 48.50 bp (+1.45) China: 89.05 bp (+3.24) All 5-year CDS, mid and change ( via CMA DataVision ) // Continue reading →

Rule #1: Always Blame Derivatives Fifteen Thoughts on Advantage in the Markets How Harvard University Almost Destroyed Itself Pimco’s Gross Says Harvard, Yale May Need to Alter Investments Not so risk-free DTCC wants to join Fed system PPIP Unpopular, Stiglitz … Continue reading →

To $184,932 Down $51,527 Related: Fed Explains Central Bank Liquidity Swaps // Continue reading →

High Yield Last month: 2.630% Today: 3.300% Allotted at High Last month: 18.93% Today: 78.32% Bid-to-Cover Ratio Last month: 2.28 Today: 2.26 Related: 30-Year Treasury Bond Collapses // Continue reading →

Christian Lacroix, the French couturier whose artistic and exuberant pouf dresses propelled him to fame in the 1980s, became the latest victim of the global financial crisis as the U.S.-owned fashion house filed for court protection from creditors. // Continue reading →

The Revenge of Purchasing Power Parity on Carry Trades during Crises by M. Brière and B. Drut Empirical evidence shows that fundamental models have produced disappointing results over the past 20 years while carry trade strategies have performed superbly. But … Continue reading →

To Our Clients and Friends: I am writing to you, our loyal clients and friends, to let you know that I have reached the painful conclusion that it is necessary to wind down Pequot’s business. Related: Samberg’s Pequot Capital to … Continue reading →