Archive for October 3rd, 2008

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