Brent Nyitray
Fairlington Blade
Let the mutherfuker burn!
jnc4p
Kevin S. Willis
Michigoose
lmsinca
markinaustin
Arcanaut
novahockey
quarterback
ScottC
yellojktVital Statistics:
| Last | Change | Percent | |
| S&P Futures | 1367.8 | 3.4 | 0.25% |
| Eurostoxx Index | 2535.2 | 23.1 | 0.92% |
| Oil (WTI) | 107.27 | 0.2 | 0.19% |
| LIBOR | 0.4843 | -0.003 | -0.67% |
| US Dollar Index (DXY) | 78.891 | 0.072 | 0.09% |
| 10 Year Govt Bond Yield | 2.04% | 0.07% |
Markets are slightly better after a mixed bag of economic reports this morning. Personal income and spending were lower than expected, while the jobless report was slightly better. Initial Jobless Claims definitely seem to have found a new level around 350k, which for all intents and purposes represents “normalcy.”
Bonds and mortgage backs sold off on the data, continuing the slide that began after The Bernank offered his testimony yesterday.
Today is the first Thursday of the month, and that means retailers are releasing their same-store sales numbers for February. Reports are still coming in, but WalMart, Target, and the Gap are all up smartly on their reports. The unusually warm weather in the Northeast may have played a part in the comps. Most retailers have a January fiscal year, so some are announcing their fiscal year earnings as well.
So a default is not a default? According to ISDA that is the case. Bought credit default swaps on Greek sovereign debt? No credit event for you!
Remember the days of 5% commissions and going to the library to research a stock? – why there has never been a better time to be an individual investor.
Chart: Initial Jobless Claims over the years:
Filed under: Uncategorized |
All Things in Moderation 
The CDSs don’t come into play b/c the 70% haircut is voluntary [gulp]!
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Understatement of the year:
“Even so, the ruling — and the prospect that Greece could default without activating the swaps — could reignite the debate about the usefulness of the financial instruments. If borrowers can structure defaults to circumvent swaps payouts, investors may see the swaps as unreliable.
“The market has been harmed by people playing games to avoid events that would be covered by the insurance,” said John Sprow, chief risk officer at Smith Breeden Associates, a fund management firm.”
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Andrew Breitbart, RIP. (h/t, McWing)
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Poor guy, and he was only 43.
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43 with 4 kids. Depressing to think about.
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Poor guy, and he was only 43.
Eeek. I turn 43 in three weeks. I don’t like stories like this!
He died suddenly of natural causes. That usually means a previously undetected (or improperly diagnosed) heart defect.
My cousin died a year ago, at 49, of pancreatic cancer. Cause of death was only determined on autopsy—it was never diagnosed. He just had back problems, then they got worse, then one day they were terrible. The next day, he was dead.
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Blunt amendment failed 51-48
[update: Casey (D-PA), Manchin (D-WV) and Nelson (D-NE) voted against tabling it. Snowe (R-ME) voted to table.]
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Davy Jones, dead as 66.
RIP
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The Blunt amendment would attach a provision to a key highway bill that would let employers opt out of a new federal health-care mandate for their employees if they have religious objections.
I’d vote against everything is I were in congress. Except my own legislation, which would be a rule against attaching unrelated amendments to other pieces of legislation, period.
The healthcare mandate has noting to do with highway bills. Probably a lot of other things in the highway bill has nothing to do with highways.
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If I were senator, I’d sit at my desk on the floor and utter only two words: “i object”
No UC for six years.
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“Kevin S. Willis, on March 1, 2012 at 10:27 am said:
The Blunt amendment would attach a provision to a key highway bill that would let employers opt out of a new federal health-care mandate for their employees if they have religious objections.
I’d vote against everything if I were in congress.”
Jessie Helms reincarnated. Senator No!
I’m sure you would love the end of term, 5 months late, omnibus budget reconciliation bill.
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my mark twain comment
i read somewhere that he said
the more i learn about people
the more i like my dog
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i thought i liked you at first
not so sure anymore
but wish you well
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respect can be a lot of things
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