Todd H.:"Things That Scare Me:Failed Bond Auctions"
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Todd H.:"Things That Scare Me:Failed Bond Auctions"
"Things That Scare Me: Failed Bond Auctions"
Todd Harrison
Feb 14, 2008 9:25 am
" This can be a frightening place and time.
That Justin Rohrlich, the driving voice of Hoofy and Boo, accepted my challenge at last night’s MV Staff Feast and ate five large cupcakes in five minutes for $500. And he’s still not in…
UBS (UBS), the second-biggest underwriter of auction-rate securities, will no longer buy deals that fail to attract enough bidders, joining a growing number of dealers stepping back from that $300 billion market.
The largest underwriter of those instruments is Citigroup (C).
According to a report by Bank America (BAC), 80% of all auctions of bonds sold by cities, hospitals and student loan agencies were unsuccessful yesterday.
That, Minyans notwithstanding, Mom and Pop retail won’t know about this until it’s too late. Just like the subprime.
Carnies. Circus folk. Nomads, really. They’ve got small hands and smell like cabbage.
Baidu $300 (BIDU), particularly the first test after a spike.
That MBIA (MBI) CFO Charles Chaplin just said that the world’s biggest bond insurer is equipped to survive the housing slump and dismissed suggestions that the industry needs a rescue or stronger federal oversight.
The two-sided risk that is a function of the fate of these bond insurers.
That Moody’s said it would complete its review of the bond insurers in mid- to late-February and it’s now mid-February.
Bees.
The likelihood that societal acrimony will manifest as we draw closer to the election.
As geopolitical tensions spread from the Middle East to to .
What risk appetites will look like when the other side of zero percent financing comes home to roost.
What my appetite looks like after tossing a few back with my Minyan family.
The serendipity that Big Ben will chime on the anniversary of the St. Valentine’s Day Massacre.
Angelo Mozilla’s tan.
We can rally another 600 points in the DJIA and still be entrenched in the negative pattern of lower highs.
My Raiders.
Over the last three sessions, the S&P 500 is up 3% and the broker dealer index is flat.
R.P."
(in www.minyanville.com)
Todd Harrison
Feb 14, 2008 9:25 am
" This can be a frightening place and time.
That Justin Rohrlich, the driving voice of Hoofy and Boo, accepted my challenge at last night’s MV Staff Feast and ate five large cupcakes in five minutes for $500. And he’s still not in…
UBS (UBS), the second-biggest underwriter of auction-rate securities, will no longer buy deals that fail to attract enough bidders, joining a growing number of dealers stepping back from that $300 billion market.
The largest underwriter of those instruments is Citigroup (C).
According to a report by Bank America (BAC), 80% of all auctions of bonds sold by cities, hospitals and student loan agencies were unsuccessful yesterday.
That, Minyans notwithstanding, Mom and Pop retail won’t know about this until it’s too late. Just like the subprime.
Carnies. Circus folk. Nomads, really. They’ve got small hands and smell like cabbage.
Baidu $300 (BIDU), particularly the first test after a spike.
That MBIA (MBI) CFO Charles Chaplin just said that the world’s biggest bond insurer is equipped to survive the housing slump and dismissed suggestions that the industry needs a rescue or stronger federal oversight.
The two-sided risk that is a function of the fate of these bond insurers.
That Moody’s said it would complete its review of the bond insurers in mid- to late-February and it’s now mid-February.
Bees.
The likelihood that societal acrimony will manifest as we draw closer to the election.
As geopolitical tensions spread from the Middle East to to .
What risk appetites will look like when the other side of zero percent financing comes home to roost.
What my appetite looks like after tossing a few back with my Minyan family.
The serendipity that Big Ben will chime on the anniversary of the St. Valentine’s Day Massacre.
Angelo Mozilla’s tan.
We can rally another 600 points in the DJIA and still be entrenched in the negative pattern of lower highs.
My Raiders.
Over the last three sessions, the S&P 500 is up 3% and the broker dealer index is flat.
R.P."
(in www.minyanville.com)
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