Bonds and Stocks
Since Lehman Failed
October 3, 2008
Market participants left work three weeks ago on September 12th expecting the Treasury to arrange a buyer for Lehman or to step in at the last minute and nationalize it. The allowed failure of Lehman was a mistake, which will exact a huge bill on taxpayers and already has hurt asset holders. Here are some […] More
Foreign Exchange Insights and Next Week
Weekly Foreign Exchange Insights: October 3rd
October 3, 2008
A recession is spreading rapidly across industrialized economies. Trade flows account for only part of this contagion. All regions were exposed to a rapid rise in commodity costs, especially for energy and food. The breakdown of the U.S. sub-prime mortgage market created a liquidity shortage in most money markets that is transforming into more serious […] More
New Overnight Developments Abroad - Daily Update
New Overnight Developments Abroad: Awaiting U.S. Labor Data and House Vote on TARP Bill
October 3, 2008
The dollar has relinquished part of yesterday’s advance, dropping 0.9% against the kiwi, 0.5% against the Swissy, 0.4% against sterling and the euro and 0.2% against the yen and Canadian dollar. An exception was a 0.5% rise against the Australian dollar, which had its worst week in over 20 years. Asian stocks fell mostly. Japanese […] More
