Tbond-tbills-tBUND-ti amo MARJA (VM 10 anni in borsa) (2 lettori)
- Creatore Discussione dan24
- Data di Inizio
Fleursdumal
फूल की बुराई
ma VDVlQ che potevi anche rimanere con 6 visto che quello che ti si è fulminato era fisso sui forum gay
ocio che siamo ai tempi del giudizio e le sodome e gomorre verrano fulminate una dietro l'altra, dixi
ocio che siamo ai tempi del giudizio e le sodome e gomorre verrano fulminate una dietro l'altra, dixi
Fleursdumal
फूल की बुराई
sul Bronx è long fisso, certi movimenti parlano chiaro
gli ANAlisti del piano di sotto ( forse li hanno spostati nei basement ora) hanno cambiato piano situazione e ora evidentemene l'inflazione sul lungo impippa , stanno aggiustando la curva
gli ANAlisti del piano di sotto ( forse li hanno spostati nei basement ora) hanno cambiato piano situazione e ora evidentemene l'inflazione sul lungo impippa , stanno aggiustando la curva
Fleursdumal
फूल की बुराई
con ormai un pugno di dealer primari rimasti su un book sempre più sottile, basta poco a scatenere un panic buy
gastronomo
Forumer storico
Greenspan Concedes to `Flaw' in His Market Ideology (Update1) 
By Scott Lanman and Steve Matthews
Oct. 23 (Bloomberg) -- Former Federal Reserve Chairman Alan Greenspan said a ``once-in-a-century credit tsunami'' has engulfed financial markets and conceded that his free-market ideology shunning regulation was flawed.
``Yes, I found a flaw,'' Greenspan said in response to a grilling from the House Committee on Oversight and Government Reform. ``That is precisely the reason I was shocked because I'd been going for 40 years or more with very considerable evidence that it was working exceptionally well.''
Greenspan said he was ``partially'' wrong in opposing regulation of derivatives and acknowledged that financial institutions didn't protect shareholders and investments as well as he expected. Forecasting is an inexact science, he said.
``If we are right 60 percent of the time in forecasting, we are doing exceptionally well; that means we are wrong 40 percent of the time,'' Greenspan said. ``Forecasting never gets to the point where it is 100 percent accurate.''
In May 2005 speech, Greenspan said that ``private regulation generally has proved far better at constraining excessive risk-taking than has government regulation.''
Committee Chairman Henry Waxman, a California Democrat, said Greenspan had ``the authority to prevent irresponsible lending practices that led to the subprime mortgage crisis.''
``You were advised to do so by many others,'' he told Greenspan. ``And now our whole economy is paying the price.''
Waxman and other lawmakers repeatedly interrupted Greenspan as he answered their questions, in contrast to deference to his testimony while he was Fed chairman.
Writedowns, Losses
Firms that bundle loans into securities for sale should be required to keep part of those securities, Greenspan said in prepared testimony. Other rules should address fraud and settlement of trades, he said.
Greenspan opposed increasing financial supervision as Fed chairman from August 1987 to January 2006. Policy makers are now struggling to contain a financial crisis marked by record foreclosures, falling asset prices and almost $660 billion in writedowns and losses tied to U.S. subprime mortgages.
Today, the former chairman asked: ``What went wrong with global economic policies that had worked so effectively for nearly four decades?''
Greenspan reiterated his ``shocked disbelief'' that financial companies failed to execute sufficient ``surveillance'' on their trading counterparties to prevent surging losses. The ``breakdown'' was clearest in the market where securities firms packaged home mortgages into debt sold on to other investors, he said.
`Three Bill Buckners'
``As much as I would prefer it otherwise, in this financial environment I see no choice but to require that all securitizers retain a meaningful part of the securities they issue,'' Greenspan said. That would give the companies an incentive to ensure the assets are properly priced for their risk, advocates say.
Securities and Exchange Commission Chairman Christopher Cox and former Treasury Secretary John Snow also appeared at the House committee hearing today.
Snow said the global ``financial architecture'' should be reorganized by focusing on increasing transparency of ``excessive'' leverage to prevent institutions from creating too much risk.
The U.S. needs ``one strong national regulator'' to oversee firms and fix what Snow called ``a fragmented approach'' to regulation. ``Steps to restore transparency and responsibility in the marketplace will go a long way towards restoring stability and confidence,'' he said.
Addressing the trio that oversaw the U.S. financial markets as the housing bubble developed, Representative John Yarmuth, a Democrat from Kentucky, characterized them as ``three Bill Buckners,'' referring to the Boston Red Sox first baseman whose fielding error some fans blame for the team's loss in the 1986 World Series.
To contact the reporter on this story: Scott Lanman in Washington at [email protected]; Steve Matthews in Atlanta at [email protected].
Last Updated: October 23, 2008 12:34 EDT
By Scott Lanman and Steve Matthews
Oct. 23 (Bloomberg) -- Former Federal Reserve Chairman Alan Greenspan said a ``once-in-a-century credit tsunami'' has engulfed financial markets and conceded that his free-market ideology shunning regulation was flawed.
``Yes, I found a flaw,'' Greenspan said in response to a grilling from the House Committee on Oversight and Government Reform. ``That is precisely the reason I was shocked because I'd been going for 40 years or more with very considerable evidence that it was working exceptionally well.''
Greenspan said he was ``partially'' wrong in opposing regulation of derivatives and acknowledged that financial institutions didn't protect shareholders and investments as well as he expected. Forecasting is an inexact science, he said.
``If we are right 60 percent of the time in forecasting, we are doing exceptionally well; that means we are wrong 40 percent of the time,'' Greenspan said. ``Forecasting never gets to the point where it is 100 percent accurate.''
In May 2005 speech, Greenspan said that ``private regulation generally has proved far better at constraining excessive risk-taking than has government regulation.''
Committee Chairman Henry Waxman, a California Democrat, said Greenspan had ``the authority to prevent irresponsible lending practices that led to the subprime mortgage crisis.''
``You were advised to do so by many others,'' he told Greenspan. ``And now our whole economy is paying the price.''
Waxman and other lawmakers repeatedly interrupted Greenspan as he answered their questions, in contrast to deference to his testimony while he was Fed chairman.
Writedowns, Losses
Firms that bundle loans into securities for sale should be required to keep part of those securities, Greenspan said in prepared testimony. Other rules should address fraud and settlement of trades, he said.
Greenspan opposed increasing financial supervision as Fed chairman from August 1987 to January 2006. Policy makers are now struggling to contain a financial crisis marked by record foreclosures, falling asset prices and almost $660 billion in writedowns and losses tied to U.S. subprime mortgages.
Today, the former chairman asked: ``What went wrong with global economic policies that had worked so effectively for nearly four decades?''
Greenspan reiterated his ``shocked disbelief'' that financial companies failed to execute sufficient ``surveillance'' on their trading counterparties to prevent surging losses. The ``breakdown'' was clearest in the market where securities firms packaged home mortgages into debt sold on to other investors, he said.
`Three Bill Buckners'
``As much as I would prefer it otherwise, in this financial environment I see no choice but to require that all securitizers retain a meaningful part of the securities they issue,'' Greenspan said. That would give the companies an incentive to ensure the assets are properly priced for their risk, advocates say.
Securities and Exchange Commission Chairman Christopher Cox and former Treasury Secretary John Snow also appeared at the House committee hearing today.
Snow said the global ``financial architecture'' should be reorganized by focusing on increasing transparency of ``excessive'' leverage to prevent institutions from creating too much risk.
The U.S. needs ``one strong national regulator'' to oversee firms and fix what Snow called ``a fragmented approach'' to regulation. ``Steps to restore transparency and responsibility in the marketplace will go a long way towards restoring stability and confidence,'' he said.
Addressing the trio that oversaw the U.S. financial markets as the housing bubble developed, Representative John Yarmuth, a Democrat from Kentucky, characterized them as ``three Bill Buckners,'' referring to the Boston Red Sox first baseman whose fielding error some fans blame for the team's loss in the 1986 World Series.
To contact the reporter on this story: Scott Lanman in Washington at [email protected]; Steve Matthews in Atlanta at [email protected].
Last Updated: October 23, 2008 12:34 EDT
Fleursdumal
फूल की बुराई
intanto hanno fatto un doppio min rel giusto sulla s1 a 872,5
forato questo si va al doppio min importante a 850
la giornata particolare si preannuncia quella di domani, poi lunedì mattina gappaccio con rialzo del 584584754858%
forato questo si va al doppio min importante a 850
la giornata particolare si preannuncia quella di domani, poi lunedì mattina gappaccio con rialzo del 584584754858%
Fleursdumal
फूल की बुराई
11:40 am - Waiter, There's a Flaw in my Model : The maestro conducted an encore symphony on the Hill, which unfortunately hit more than a few notes off-key. Greenspan's mea culpa on his flawed "free market" model was softened by his admission that the outcome has caught even him by surprise. Nevertheless he says he should'a regulated more. He sees more job losses and weak growth ahead. (Bloomberg)
11:23 am - Mocked Disbelief: Trade slides as supply is put out, with levels inline with previous auctions, albeit in the shadow of the occasional shorter term "drive-by" (or "snap") auctions that have been tossed into the mix over the past 2 weeks. The market got added pressure as the announcement on the auctions hit. The $34B 2-yrs on par with recent record amounts, and the $24B 5-yr, on par with the record largest offering in early 03 accompanied by a reopened $6B 5-yr TIPS as well as standard issue $25B 3-mos and a smaller $25B 6-mo. Former Fed-head Greenspan has done his stint in the witness chair, and his "shocked disbelief" over the current credit situation, seems laughable to many. (Bloomberg)
11:08 am - Note & Bill Announcement : Treasury will sell $6B re-opened 5-yr TIPS, $25B each of 3- & 6-month bills (Mon), $34B of 2-yr notes (Tues) & $24B 5-yrs (Thurs),
10:54 am - Sinking : Trade has been slumping as the market looks to book some profits as equities revive a bit and outside of supply issues the calendar is empty. The market continues to trade in wafer thin conditions, so swings will tend wide. BNP's Patrick Jacq tells Bloomberg, "Market activity isn't recovering strongly, or even significantly, and it won't as long as banks can get all they want from the central bank... While it's a good sign that rates have been coming down, they are doing so because central banks are playing the role of the interbank market and allotting as much liquidity as is demanded." Well said, Jacq.
10:30 am - Faded at Highs : The continuous 10-yr futures contract got snagged on its longer term moving averages converging near 115-20. Prices have moved into the middle of their trading range that began in Dec and topped out in Apr (as defined between 111 and 120). Trade awaits longer-term direction as it has through much of the year. A close above 115-20 should focus attention back on the topside.
10:13 am - Slip n Slide : Treasuries continue to offer a mixed bag as the expectations for upcoming supply skew to the shorter durations. The market is looking into the abyss, with no data or other scheduled items on tap. Announcements of the 2-and-5-yr auction details are due, but there should be few surprises there. The slide in prices now is being accompanied by a blip better in size, but, as has been the case, those "blips" tend to remain just that and see little follow through.
09:46 am - Cash from System : Fed drains $25B via overnight reverse repos.
09:28 am - Buck Takes a Breather : The dollar continues to carve out a tight range on the euro and yen. Gyrations have been driven by global equities and headlines on emerging markets being led into the abyss by capital outflows and collapsing currencies. The equity open is awaited and could provide the necessary catalyst for chop outside of ranges. The euro is wedged between 1.2725 and 1.2820. A break eyes 1.2580 and 1.25 while above sees resistance near 1.2880 and 1.2930. Against the yen, the dollar is snagged between 96.80 and 98.30. The pound broke down further this am with 1.6040 propping for now. Resistance sits at 1.6170 with trade eyeing a bigger drop to near 1.56. Spot gold is getting crushed again at 707.82 (-22.63) while crude is trying to rally at 67.88 (+1.13).
09:28 am - Buck Takes a Breather : The dollar continues to carve out a tight range on the euro and yen. Gyrations have been driven by global equities and headlines on emerging markets being led into the abyss by capital outflows and collapsing currencies. The equity open is awaited and could provide the necessary catalyst for chop outside of ranges. The euro is wedged between 1.2725 and 1.2820. A break eyes 1.2580 and 1.25 while above sees resistance near 1.2880 and 1.2930. Against the yen, the dollar is snagged between 96.80 and 98.30. The pound broke down further this am with 1.6040 propping for now. Resistance sits at 1.6170 with trade eyeing a bigger drop to near 1.56. Spot gold is getting crushed again at 707.82 (-22.63) while crude is trying to rally at 67.88 (+1.13).
09:04 am - Slipping : The market has been slumping off the best levels awaiting the opening in stocks, while the curve has driven steeply flatter. The 2-10-yr yield spread is running at 204.4.
08:45 am - Claims : The jobless number hit harder than expected with the 478K coming in against consensus 465K with an upside revision to 463K from 461K. Continued claims came in, sort of, to 3720K from an upwardly revised 3726K (previously reported at 3711K). The market held on to the bid, but as has been the case, volume is sketchy at best.
08:24 am - Grabbing More Ground : The market is reaching higher with global equities selling off and the flight-to-quality still fueling flows. Foreclosures were up 21% (Sep yoy) according to RealtyTrac, a line-up is forming at the doorstep of the IMF, earnings are weak and Libor rates have quit improving. The market is taking all this in stride with its eye on Oct price highs (10-yr yield near 3.40%) but volume will likely need to pick up to get there. The 2-10-yr yield spread is near unchanged at 209 while the 3-mo-10-yr is flatter at 265
11:23 am - Mocked Disbelief: Trade slides as supply is put out, with levels inline with previous auctions, albeit in the shadow of the occasional shorter term "drive-by" (or "snap") auctions that have been tossed into the mix over the past 2 weeks. The market got added pressure as the announcement on the auctions hit. The $34B 2-yrs on par with recent record amounts, and the $24B 5-yr, on par with the record largest offering in early 03 accompanied by a reopened $6B 5-yr TIPS as well as standard issue $25B 3-mos and a smaller $25B 6-mo. Former Fed-head Greenspan has done his stint in the witness chair, and his "shocked disbelief" over the current credit situation, seems laughable to many. (Bloomberg)
11:08 am - Note & Bill Announcement : Treasury will sell $6B re-opened 5-yr TIPS, $25B each of 3- & 6-month bills (Mon), $34B of 2-yr notes (Tues) & $24B 5-yrs (Thurs),
10:54 am - Sinking : Trade has been slumping as the market looks to book some profits as equities revive a bit and outside of supply issues the calendar is empty. The market continues to trade in wafer thin conditions, so swings will tend wide. BNP's Patrick Jacq tells Bloomberg, "Market activity isn't recovering strongly, or even significantly, and it won't as long as banks can get all they want from the central bank... While it's a good sign that rates have been coming down, they are doing so because central banks are playing the role of the interbank market and allotting as much liquidity as is demanded." Well said, Jacq.
10:30 am - Faded at Highs : The continuous 10-yr futures contract got snagged on its longer term moving averages converging near 115-20. Prices have moved into the middle of their trading range that began in Dec and topped out in Apr (as defined between 111 and 120). Trade awaits longer-term direction as it has through much of the year. A close above 115-20 should focus attention back on the topside.
10:13 am - Slip n Slide : Treasuries continue to offer a mixed bag as the expectations for upcoming supply skew to the shorter durations. The market is looking into the abyss, with no data or other scheduled items on tap. Announcements of the 2-and-5-yr auction details are due, but there should be few surprises there. The slide in prices now is being accompanied by a blip better in size, but, as has been the case, those "blips" tend to remain just that and see little follow through.
09:46 am - Cash from System : Fed drains $25B via overnight reverse repos.
09:28 am - Buck Takes a Breather : The dollar continues to carve out a tight range on the euro and yen. Gyrations have been driven by global equities and headlines on emerging markets being led into the abyss by capital outflows and collapsing currencies. The equity open is awaited and could provide the necessary catalyst for chop outside of ranges. The euro is wedged between 1.2725 and 1.2820. A break eyes 1.2580 and 1.25 while above sees resistance near 1.2880 and 1.2930. Against the yen, the dollar is snagged between 96.80 and 98.30. The pound broke down further this am with 1.6040 propping for now. Resistance sits at 1.6170 with trade eyeing a bigger drop to near 1.56. Spot gold is getting crushed again at 707.82 (-22.63) while crude is trying to rally at 67.88 (+1.13).
09:28 am - Buck Takes a Breather : The dollar continues to carve out a tight range on the euro and yen. Gyrations have been driven by global equities and headlines on emerging markets being led into the abyss by capital outflows and collapsing currencies. The equity open is awaited and could provide the necessary catalyst for chop outside of ranges. The euro is wedged between 1.2725 and 1.2820. A break eyes 1.2580 and 1.25 while above sees resistance near 1.2880 and 1.2930. Against the yen, the dollar is snagged between 96.80 and 98.30. The pound broke down further this am with 1.6040 propping for now. Resistance sits at 1.6170 with trade eyeing a bigger drop to near 1.56. Spot gold is getting crushed again at 707.82 (-22.63) while crude is trying to rally at 67.88 (+1.13).
09:04 am - Slipping : The market has been slumping off the best levels awaiting the opening in stocks, while the curve has driven steeply flatter. The 2-10-yr yield spread is running at 204.4.
08:45 am - Claims : The jobless number hit harder than expected with the 478K coming in against consensus 465K with an upside revision to 463K from 461K. Continued claims came in, sort of, to 3720K from an upwardly revised 3726K (previously reported at 3711K). The market held on to the bid, but as has been the case, volume is sketchy at best.
08:24 am - Grabbing More Ground : The market is reaching higher with global equities selling off and the flight-to-quality still fueling flows. Foreclosures were up 21% (Sep yoy) according to RealtyTrac, a line-up is forming at the doorstep of the IMF, earnings are weak and Libor rates have quit improving. The market is taking all this in stride with its eye on Oct price highs (10-yr yield near 3.40%) but volume will likely need to pick up to get there. The 2-10-yr yield spread is near unchanged at 209 while the 3-mo-10-yr is flatter at 265
Sharnin 2
Forumer storico
Come organizzarsi in caso di global crash
http://www.chrismartenson.com/crash-course/chapter-20-what-should-i-do
http://www.chrismartenson.com/crash-course/chapter-20-what-should-i-do
Fleursdumal
फूल की बुराई
spread 30y-10y futures, giusto per visualizzare la viulenzaa con cui stanno lavorando sulla curva
