‘Bond Trading’ Exodus, The Global Economy’s Q4 Landmine

By |2019-04-05T17:42:38-04:00April 5th, 2019|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

It isn’t just US or European banks which are shrinking. The nature of this post-August 9, 2007, world is just that – global. Sure, there are regulations which have made investment banking more expensive. But there isn’t a rule or law that Wall Street (really Lombard Street) wouldn’t “discover” a way to circumvent it if [...]

Financials, Markets Rise on Good News

By |2009-03-10T10:59:22-04:00March 10th, 2009|Markets|

The S&P 500 surged upward today, by about 5%, as financials (XLF) were boosted by unexpected news from Vikram Pandit and Citi: Financials were higher on news that Citigroup actually earned a profit (what?!?) in the first 2 months of the year. The market moved as a result of the tempered but renewed confidence in [...]

Market Week in Review

By |2009-01-17T17:32:29-05:00January 17th, 2009|Economy|

The steady stock market uptrend since the November lows was broken this week as the bad economic data and bailout uncertainties continued. Market action was dominated by news in the financial sector. JP Morgan, Citigroup and Bank of America all announced more writeoffs this week although JP Morgan at least was able to report a [...]

Citi: Breaking Up is Hard to Do

By |2009-01-13T19:38:21-05:00January 13th, 2009|Economy|

Citigroup is finally admitting defeat in its financial supermarket business model (via WSJ): Citigroup Inc., under pressure to rapidly downsize, is preparing to unveil a major reorganization that will mark a further step toward dismantling the financial conglomerate, according to people familiar with the matter. In addition to spinning off the New York company’s Smith [...]

Auction Rate Intoxication

By |2008-12-15T17:26:15-05:00December 15th, 2008|Economy|

The auction rate securities market imploded last year as the credit crunch started to hit in earnest. These securities were sold to investors as cash equivalents because theoretically they could be redeemed on short notice. Auctions were held at regular intervals, usually weekly, and investors were assured they could sell their securities at the auctions. [...]

Citigroup Town Hall Meeting

By |2008-11-17T15:17:27-05:00November 17th, 2008|Markets|

Citigroup, once the largest bank in the world, held a town hall meeting for all Citigroup employees today. In the prepared presentation, Citi management shares details on the company’s health: -Underlying business remains strong, and revenues have been stable -Very strong capital position -Strong competitive position to seize future opportunities They conviniently left out the fact that there were no profits in [...]


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