Archive for May 2009

No Market For Commercial Mortgage Backed Securities

May 28, 2009  ·  Category: Real Estate
Posted by Greg Feirman  ·  No Comments »

All Eyes On The Treasury Auctions

May 28, 2009  ·  Category: Bonds, Government, Macro Economics, Market Commentary
An auction of 5 year treasury notes on Tuesday and one of 7 year notes today appear to be driving the market.  Everybody is focused on the federal deficit, China's appetite for our debt and ...
Posted by Greg Feirman  ·  No Comments »

Federal Income Tax Receipts Plummet In April

May 28, 2009  ·  Category: Macro Economics
These are staggering numbers. - Kerry Lynch, Senior Fellow, American Institute for Economic Research Source: "Tax Revenue Plummets", Kerry Lynch, American Institute for Economic Research, May 20 How about them "green shoots"????? Also see "State Tax Receipts 'Plummetting'", Top ...
Posted by Greg Feirman  ·  No Comments »

Treasury Sell Off Causes Stock Market Selloff

May 27, 2009  ·  Category: Bonds, Market Commentary
For some reason at about 1pm EST long term treasuries started selling off causing interest rates to surge and dragging the stock market down with it. I missed my man Rick Santelli explaining why at the close ...
Posted by Greg Feirman  ·  No Comments »

Controversy Regarding NY Times Reporter Edmund Andrews Article And Book

May 24, 2009  ·  Category: Business Culture and Current Events
Last Sunday, The New York Times Magazine published a lengthy adaptation from a new book by one of their business reporters: "My Personal Credit Crisis" by Edmund Andrews.  The article generated a lot of attention ...
Posted by Greg Feirman  ·  No Comments »

More Signs Of A Bottom In Sacramento Home Market

May 24, 2009  ·  Category: Real Estate
Whatever the explanation, median sales prices of existing homes are stabilizing in the $160,000 range so far this year in Sacramento County. - Jim Wasserman, "Capital-area home prices stop slide, for now", The Sacramento Bee, May ...
Posted by Greg Feirman  ·  No Comments »

Foreclosure Market Booming In Phoenix

May 24, 2009  ·  Category: Real Estate
The low end of the real estate market here - and in some equally hard-hit places like inland California and coastal Florida - is becoming as wild as anything during the boom. - David Streitfeld, "Amid ...
Posted by Greg Feirman  ·  No Comments »

M.B.A. = Master of Bullshit Administration

What does an M.B.A. do for you that a doctorate in philosophy can't do better? ....... M.B.A.s have taken obfuscatory jargon—otherwise known as bullshit—to a level that would have made even the Scholastics blanch. - Matthew Stewart, "The ...
Posted by Greg Feirman  ·  8 Comments »

Sac Bee: The economy is down, but the cost of living is going up

May 22, 2009  ·  Category: Business Culture and Current Events, Inflation
If you look at the consumer price index, you would think that the cost of living is very low.  Unfortunately, that is not the case.  The cost of living for the average person is going up. - ...
Posted by Greg Feirman  ·  No Comments »

Mish: The Next Bull Will Have Different Leaders

May 22, 2009  ·  Category: Market Commentary
Looking ahead, it's difficult to say what sectors will lead the next bull market (energy, alternative energy, gold, pharmaceuticals, etc. are all possible candidates) but whatever the leaders will be, financials and homebuilders are not ...
Posted by Greg Feirman  ·  No Comments »