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Monthly Archives: June 2007
Mortgage rate rise pushes US housing, economy to "blood bath" — WSJ
The WSJ today reports on the ongoing pressure that increasing lending rates are placing on the US consumer who is today more levered than ever before in history. See Mortgage Rate Rise Pushes US Housing: “The jump in 30-year mortgage rates … Continue reading
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Conflicts of interest make bond rating agencies slow to downgrade
TD Institutional Services reports today that on Friday, credit-rating agency Moody’s cut the ratings on 131 bonds backed by pools of speculative subprime loans because of unusually high rates of default and delinquencies among the underlying mortgages (WSJ). Moody’s also … Continue reading
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Hedge Funds: levered not hedged
The WSJ today reports: Merrill Postpones Auction. Merrill Lynch postponed its planned auction of $400 million worth of collateral assets from a troubled Bear Stearns Cos. hedge fund, giving the fund's managers additional time to present a plan for salvaging it. … Continue reading
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