Bund, Tbond e la matrixiana allo yen vm18 (7 lettori)
- Creatore Discussione gipa69
- Data di Inizio
ronumaar
Nuovo forumer
A parte il casino sozzo dei subprime, Wal-Mart y Home Depot avvisano che gli utili saranno mermati a causa del rallentamento del consumo yankee (beccandosi un -5% a cranio).. se fosse cosí, quazzi amarognoli veramente. 
Carrysti fuggendo, oro giú, cinesi con inflazione, supportone spezzato, americans senza dollars... Embè, sembra proprio l'Apocalypse Now... pero... non staranno creando tutto sto panico... per poi rompere UP!
Sempre bella gnocc@ su sto 3d
Ciao!!
Carrysti fuggendo, oro giú, cinesi con inflazione, supportone spezzato, americans senza dollars... Embè, sembra proprio l'Apocalypse Now... pero... non staranno creando tutto sto panico... per poi rompere UP!
Sempre bella gnocc@ su sto 3d
Ciao!!
gipa69
collegio dei patafisici
ronumaar ha scritto:A parte il casino sozzo dei subprime, Wal-Mart y Home Depot avvisano che gli utili saranno mermati a causa del rallentamento del consumo yankee (beccandosi un -5% a cranio).. se fosse cosí, quazzi amarognoli veramente.
Carrysti fuggendo, oro giú, cinesi con inflazione, supportone spezzato, americans senza dollars... Embè, sembra proprio l'Apocalypse Now... pero... non staranno creando tutto sto panico... per poi rompere UP!
Sempre bella gnocc@ su sto 3d
Ciao!!
Lo Yen contro euro sembra aver rotto supporto a 159 alto ed orasembra indirizzato sui 155. se sarà così potremmo avere un minimo dello spoore intorno ai 1380.
Penso anche io che stanno preparando le condizioni per una ripartenza forte, ma bisogna capire quando.....
gipa69
collegio dei patafisici
ronumaar ha scritto:A parte il casino sozzo dei subprime, Wal-Mart y Home Depot avvisano che gli utili saranno mermati a causa del rallentamento del consumo yankee (beccandosi un -5% a cranio).. se fosse cosí, quazzi amarognoli veramente.
Carrysti fuggendo, oro giú, cinesi con inflazione, supportone spezzato, americans senza dollars... Embè, sembra proprio l'Apocalypse Now... pero... non staranno creando tutto sto panico... per poi rompere UP!
Sempre bella gnocc@ su sto 3d
Ciao!!
comunque le commodities con il dollaro forte stanno performando fin troppo bene per l'inflazione mondiale!!!
ronumaar
Nuovo forumer
gipa69 ha scritto:
Ciao grande Gipa!!
Al riguardo, mi sembra interessante quest'articolo sulle similitudini delle precondizioni delle passate crisi stagflazionarie (che parolaccia) con i giorni d'oggi:
http://www.safehaven.com/article-8162.htm
Hai ragione sulla mossa UP: quando??? D'altronde, sbirciando di qua e la tra i vari fori si vede molto, troppo ottimismo, che l'ora del rimbalzone è arrivata... si potrebbe perfettamente andare a testare i minimi di Marzo, onda che coinciderebbe (+ o -) con la lunghezza della discesa di fine Luglio (130 punti sullo sp500)...
Chi vivrá vedrá
Buenas noches!!
gipa69
collegio dei patafisici
Il mondo hedge è davvero in agitazione e i rischi liquidativi proseguono.....
Basis Capital Tells Investors Loss May Exceed 80% (Update5)
By Laura Cochrane
A 'For Sale' sign hangs outside a home Aug. 15 (Bloomberg) -- Basis Capital Fund Management Ltd. told investors losses at one of its hedge funds may exceed 80 percent as the U.S. subprime mortgage rout prompted creditors to force the Sydney-based company to sell assets.
Basis Capital is unable to ``accurately estimate'' the value of units in its Yield Fund, the hedge fund said today in a letter sent to investors and obtained by Bloomberg News. The losses have worsened since a month ago, when it said the fund may decline more than 50 percent. The firm managed $1 billion in March.
``Any fund with securities backed by lower quality U.S. mortgages is having trouble finding prices and valuations,'' said James Alexander, who helps manages the equivalent of $9.9 billion at AllianceBernstein Holding LP in Melbourne.
Mitsubishi UFJ Financial Group Inc., Japan's largest bank, also reported losses today sparked by the subprime crisis. Asian stocks slumped to a three-month low on concern that falling credit markets may trigger a wider slowdown in economic growth.
``The situation in global structured credit markets remains fluid and uncertain,'' Basis said in the letter.
Grant Harris, head of research at Basis Capital, declined to comment today.
The firm hired Blackstone Group LP last month to negotiate with creditors to prevent a fire sale of its assets after Bear Stearns Cos. was forced to liquidate hedge funds.
`Toxic Waste'
The Yield Fund had A$308 million ($255 million) under management as at March this year, according to Zenith Partners, a Melbourne-based funds research company. Basis had more than $1 billion spread across four funds at that time, Zenith said.
Basis Capital's financiers have increased margin requirements ``as a result of a global market-wide increase in risk aversion and a general desire to reduce their exposure to these markets,'' the letter said.
The hedge funds ran into trouble by investing in the unrated, riskiest portions of collateralized debt obligations and then leveraging the investment. The portions, also known by bankers as ``toxic waste,'' are first in line for any losses when borrowers fall short on mortgage payments.
While sales of CDOs -- used to pool bonds, loans and their derivatives into new debt -- rose fivefold to $503 billion last year from 2003, investor appetite for the securities is now waning.
Delinquencies on U.S. subprime mortgages, or home loans to people with poor credit, surged to a 10-year high this year after borrowing costs rose.
Bear Stearns, the fifth-largest U.S. securities firm, said last month that investors in its two failed hedge funds would get little if any money back after ``unprecedented declines'' in the value of securities used to bet on subprime mortgages.
Demand Wanes
The losses triggered a selloff across credit markets because of concerns that CDO declines would mean losses for holders of even the least risky debt and that fewer sales of new CDOs would reduce demand for bonds and loans.
Rams Home Loans Group Ltd., an Australian lender, yesterday said its 2008 profits may be cut because the deepening crisis in the credit markets has driven up the cost of short-term U.S. debt, its biggest source of funding for its loans. Rams' have slumped 46 percent since listing July 27.
Australia's benchmark stock index slumped 3 percent to a five-month low 5,788 today. It has dropped 9.9 percent from its July 24 record.
Sydney-based hedge fund Absolute Capital Group Ltd. has also been caught in the rout and halted redemptions from two funds to avoid a sale of assets at distressed prices.
Commonwealth Bank of Australia, the nation's second-largest lender, has ``miniscule'' exposure to the U.S. subprime market, Chief Executive Officer Ralph Norris said in an interview today. The bank's second-half profit rose 18 percent to A$2.28 billion on increased corporate lending.
Five Star
The Basis Capital funds, which were open to individual and institutional investors, had the highest five-star ratings from Standard & Poor's before the ranking was put ``on hold'' July 17.
Basis Capital's Aust-Rim Diversified Fund, which had A$332 million under management at March, is not in default and is meeting margin calls, the fund said in the letter. Redemptions have been halted in both funds.
The two Australian domiciled funds invest in Basis's two offshore funds, which held a combined $1.03 billion at March this year, according to Zenith.
Basis was founded in 1999 by Steve Howell and Stuart Fowler, who worked together at County NatWest. It was named ``Fund of the Year'' at the 2005 AsiaHedge awards and Macquarie Bank Ltd.'s ``Skilled Manager of the Year'' in 2004.
Hedge funds in Australia are open to retail investors, unlike in the U.S. where the largely unregulated pools of capital are generally limited to institutions and wealthy individuals. The funds' managers participate substantially in any gains on the money invested.
To contact the reporter on this story: Laura Cochrane in Melbourne at cochranel3bloomberg.net.
Last Updated: August 15, 2007 04:20 EDT
Basis Capital Tells Investors Loss May Exceed 80% (Update5)
By Laura Cochrane
A 'For Sale' sign hangs outside a home Aug. 15 (Bloomberg) -- Basis Capital Fund Management Ltd. told investors losses at one of its hedge funds may exceed 80 percent as the U.S. subprime mortgage rout prompted creditors to force the Sydney-based company to sell assets.
Basis Capital is unable to ``accurately estimate'' the value of units in its Yield Fund, the hedge fund said today in a letter sent to investors and obtained by Bloomberg News. The losses have worsened since a month ago, when it said the fund may decline more than 50 percent. The firm managed $1 billion in March.
``Any fund with securities backed by lower quality U.S. mortgages is having trouble finding prices and valuations,'' said James Alexander, who helps manages the equivalent of $9.9 billion at AllianceBernstein Holding LP in Melbourne.
Mitsubishi UFJ Financial Group Inc., Japan's largest bank, also reported losses today sparked by the subprime crisis. Asian stocks slumped to a three-month low on concern that falling credit markets may trigger a wider slowdown in economic growth.
``The situation in global structured credit markets remains fluid and uncertain,'' Basis said in the letter.
Grant Harris, head of research at Basis Capital, declined to comment today.
The firm hired Blackstone Group LP last month to negotiate with creditors to prevent a fire sale of its assets after Bear Stearns Cos. was forced to liquidate hedge funds.
`Toxic Waste'
The Yield Fund had A$308 million ($255 million) under management as at March this year, according to Zenith Partners, a Melbourne-based funds research company. Basis had more than $1 billion spread across four funds at that time, Zenith said.
Basis Capital's financiers have increased margin requirements ``as a result of a global market-wide increase in risk aversion and a general desire to reduce their exposure to these markets,'' the letter said.
The hedge funds ran into trouble by investing in the unrated, riskiest portions of collateralized debt obligations and then leveraging the investment. The portions, also known by bankers as ``toxic waste,'' are first in line for any losses when borrowers fall short on mortgage payments.
While sales of CDOs -- used to pool bonds, loans and their derivatives into new debt -- rose fivefold to $503 billion last year from 2003, investor appetite for the securities is now waning.
Delinquencies on U.S. subprime mortgages, or home loans to people with poor credit, surged to a 10-year high this year after borrowing costs rose.
Bear Stearns, the fifth-largest U.S. securities firm, said last month that investors in its two failed hedge funds would get little if any money back after ``unprecedented declines'' in the value of securities used to bet on subprime mortgages.
Demand Wanes
The losses triggered a selloff across credit markets because of concerns that CDO declines would mean losses for holders of even the least risky debt and that fewer sales of new CDOs would reduce demand for bonds and loans.
Rams Home Loans Group Ltd., an Australian lender, yesterday said its 2008 profits may be cut because the deepening crisis in the credit markets has driven up the cost of short-term U.S. debt, its biggest source of funding for its loans. Rams' have slumped 46 percent since listing July 27.
Australia's benchmark stock index slumped 3 percent to a five-month low 5,788 today. It has dropped 9.9 percent from its July 24 record.
Sydney-based hedge fund Absolute Capital Group Ltd. has also been caught in the rout and halted redemptions from two funds to avoid a sale of assets at distressed prices.
Commonwealth Bank of Australia, the nation's second-largest lender, has ``miniscule'' exposure to the U.S. subprime market, Chief Executive Officer Ralph Norris said in an interview today. The bank's second-half profit rose 18 percent to A$2.28 billion on increased corporate lending.
Five Star
The Basis Capital funds, which were open to individual and institutional investors, had the highest five-star ratings from Standard & Poor's before the ranking was put ``on hold'' July 17.
Basis Capital's Aust-Rim Diversified Fund, which had A$332 million under management at March, is not in default and is meeting margin calls, the fund said in the letter. Redemptions have been halted in both funds.
The two Australian domiciled funds invest in Basis's two offshore funds, which held a combined $1.03 billion at March this year, according to Zenith.
Basis was founded in 1999 by Steve Howell and Stuart Fowler, who worked together at County NatWest. It was named ``Fund of the Year'' at the 2005 AsiaHedge awards and Macquarie Bank Ltd.'s ``Skilled Manager of the Year'' in 2004.
Hedge funds in Australia are open to retail investors, unlike in the U.S. where the largely unregulated pools of capital are generally limited to institutions and wealthy individuals. The funds' managers participate substantially in any gains on the money invested.
To contact the reporter on this story: Laura Cochrane in Melbourne at cochranel3bloomberg.net.
Last Updated: August 15, 2007 04:20 EDT
gipa69
collegio dei patafisici
Japanese Bank Risk Rises on Losses From U.S. Subprime (Update1)
By Junko Fujita and Patricia Kuo
A man walks past an electronic stocks board Aug. 15 (Bloomberg) -- The risk of owning the bonds of Japan's biggest banks rose after Mitsubishi UFJ Financial Group Inc. and Sumitomo Mitsui Financial Group Inc. announced losses related to the U.S. subprime mortgage debacle.
Credit-default swaps tied to the bonds of Mitsubishi UFJ, Mizuho Financial Group Inc. and Sumitomo Mitsui rose by 7 basis points to 62 basis points today, according to Merrill Lynch & Co. A basis point is 0.01 percentage point.
Mitsubishi UFJ, Japan's largest bank, said it had unrealized losses of about 5 billion yen ($42.6 million) on investments related to U.S. subprime loans as of the end of July. Smaller Sumitomo Mitsui said it recorded ``several billion yen'' of losses in the three months to June 30, after selling about 350 billion yen in U.S. mortgage-backed securities, including some backed by subprime loans.
``Investors are still unable to grasp a clear picture of the subprime losses at Japanese banks,'' said Yasunori Kuroda, a fund manager at Sompo Japan Insurance Inc. who oversees about $4.9 billion of Japanese bonds. ``This uncertainty is making investors buy protection now.''
Mizuho Financial said last week it recorded a loss of 600 million yen from selling most of its 50 billion yen of subprime- related holdings.
Credit-default swaps based on the dollar-denominated subordinated debt of Bank of Tokyo-Mitsubishi UFJ Ltd., Mizuho Corporate Bank Ltd. and Sumitomo Mitsui Banking Corp. rose 7 basis points to 62 basis points, according to Merrill prices.
Asian Banks
The credit swap price means the cost to protect 1 billion yen of the banks' debt from default rose to 6.2 million yen. An increase in price suggests deterioration in investor confidence. Subordinated debt is one of the forms of capital which regulators require banks to hold to absorb losses.
Credit-default swap spreads also widened elsewhere in Asian. The five-year CDS for Oversea-Chinese Banking Corp. rose to 57 basis points from 50 yesterday. The cost to insure the debt of Kookmin Bank increased to 40 basis points from 35. ICICI Bank Ltd. reached 138 basis points today, up from 135 yesterday, according to ABN Amro Holding NV prices.
The five-year CDS on DBS Group Holdings Ltd., Singapore's biggest bank, increased by 5 basis points to 35 basis points today, according to Barclays Capital.
None `Spared'
``Credit-default swaps have indeed widened as global sentiment towards the banking and financial sector has suffered,'' said Bryan Ko, a vice-president at the fixed-income division of Morgan Stanley in Hong Kong. ``No bank has been spared. Pretty much any name you can think of has widened.''
Calyon, the investment banking unit of Credit Agricole SA, expects total losses tied to subprime mortgages to reach about $150 billion globally, Calyon's Hong Kong-based head of credit research Dilip Parameswaran said in a research note today.
Late payments on U.S. subprime mortgages made to borrowers with poor credit histories are at the highest since 2002, driving down the value of bonds backed by home loans and causing turmoil in credit markets.
The credit crunch forced hedge funds managed by Bear Stearns & Co. and Sowood Capital Management LP to liquidate last month, and has spread to stock markets, causing losses at computer-driven funds including those of Goldman Sachs Group Inc.
Basis Capital Fund Management Ltd. told investors losses at one of its hedge funds may exceed 80 percent as the U.S. subprime mortgage rout prompted creditors to force the Sydney- based company to sell assets.
To contact the reporter on this story: Junko Fujita in Tokyo [email protected]
Last Updated: August 15, 2007 03:33 EDT
By Junko Fujita and Patricia Kuo
A man walks past an electronic stocks board Aug. 15 (Bloomberg) -- The risk of owning the bonds of Japan's biggest banks rose after Mitsubishi UFJ Financial Group Inc. and Sumitomo Mitsui Financial Group Inc. announced losses related to the U.S. subprime mortgage debacle.
Credit-default swaps tied to the bonds of Mitsubishi UFJ, Mizuho Financial Group Inc. and Sumitomo Mitsui rose by 7 basis points to 62 basis points today, according to Merrill Lynch & Co. A basis point is 0.01 percentage point.
Mitsubishi UFJ, Japan's largest bank, said it had unrealized losses of about 5 billion yen ($42.6 million) on investments related to U.S. subprime loans as of the end of July. Smaller Sumitomo Mitsui said it recorded ``several billion yen'' of losses in the three months to June 30, after selling about 350 billion yen in U.S. mortgage-backed securities, including some backed by subprime loans.
``Investors are still unable to grasp a clear picture of the subprime losses at Japanese banks,'' said Yasunori Kuroda, a fund manager at Sompo Japan Insurance Inc. who oversees about $4.9 billion of Japanese bonds. ``This uncertainty is making investors buy protection now.''
Mizuho Financial said last week it recorded a loss of 600 million yen from selling most of its 50 billion yen of subprime- related holdings.
Credit-default swaps based on the dollar-denominated subordinated debt of Bank of Tokyo-Mitsubishi UFJ Ltd., Mizuho Corporate Bank Ltd. and Sumitomo Mitsui Banking Corp. rose 7 basis points to 62 basis points, according to Merrill prices.
Asian Banks
The credit swap price means the cost to protect 1 billion yen of the banks' debt from default rose to 6.2 million yen. An increase in price suggests deterioration in investor confidence. Subordinated debt is one of the forms of capital which regulators require banks to hold to absorb losses.
Credit-default swap spreads also widened elsewhere in Asian. The five-year CDS for Oversea-Chinese Banking Corp. rose to 57 basis points from 50 yesterday. The cost to insure the debt of Kookmin Bank increased to 40 basis points from 35. ICICI Bank Ltd. reached 138 basis points today, up from 135 yesterday, according to ABN Amro Holding NV prices.
The five-year CDS on DBS Group Holdings Ltd., Singapore's biggest bank, increased by 5 basis points to 35 basis points today, according to Barclays Capital.
None `Spared'
``Credit-default swaps have indeed widened as global sentiment towards the banking and financial sector has suffered,'' said Bryan Ko, a vice-president at the fixed-income division of Morgan Stanley in Hong Kong. ``No bank has been spared. Pretty much any name you can think of has widened.''
Calyon, the investment banking unit of Credit Agricole SA, expects total losses tied to subprime mortgages to reach about $150 billion globally, Calyon's Hong Kong-based head of credit research Dilip Parameswaran said in a research note today.
Late payments on U.S. subprime mortgages made to borrowers with poor credit histories are at the highest since 2002, driving down the value of bonds backed by home loans and causing turmoil in credit markets.
The credit crunch forced hedge funds managed by Bear Stearns & Co. and Sowood Capital Management LP to liquidate last month, and has spread to stock markets, causing losses at computer-driven funds including those of Goldman Sachs Group Inc.
Basis Capital Fund Management Ltd. told investors losses at one of its hedge funds may exceed 80 percent as the U.S. subprime mortgage rout prompted creditors to force the Sydney- based company to sell assets.
To contact the reporter on this story: Junko Fujita in Tokyo [email protected]
Last Updated: August 15, 2007 03:33 EDT