Calculated Risk Fri 2009-09-04 19:01 EDT

Junk Bond Default Rate Passes 10 Percent

CalculatedRisk

From Rolfe Winkler at Reuters: U.S. junk bond default rate rises to 10.2 pct -SP The U.S. junk bond default rate rose to 10.2 percent in August from 9.4 percent in July ... Standard & Poor's data showed on Thursday. The default rate is expected to rise to 13.9 percent by July 2010 and could reach as high as 18 percent if economic conditions are worse than expected, SP said in a statement. ... In another sign of corporate distress, the rating agency has downgraded $2.9 trillion of company debt year to date, up from $1.9 trillion in the same period last year. Bad loans everywhere ...

Calculated Risk; Junk Bond Default Rate Passes 10 Percent.

Credit Writedowns Wed 2009-08-26 16:38 EDT

The FDIC and the socialization of banking losses

With the Federal Deposit Insurance Corporation (FDIC) about to release its latest figures for banks it regulates and its own financial condition, now is a good time to review its role in this crisis. This post is about the FDIC's role in the credit crisis, how it seizes banks and why I believe this matters. [...] ``the way assets are seized and sold represents a redistribution of income from taxpayers to the acquiring entities''

banks losses; credit writedowns; FDIC; social.

Tue 2009-06-16 00:00 EDT

Clusterfuck Nation by Jim Kunstler : Strange Days

``he global economy, which was supposed to be a permanent new add-on to the human condition, is sloughing away in big horrid gobs''

Clusterfuck Nation; Jim Kunstler; strange day.

Tue 2009-06-16 00:00 EDT

naked capitalism: US to Impose Conditions on TARP Repayment

impose conditions; naked capitalism; TARP repayment.

Tue 2008-07-08 00:00 EDT

naked capitalism: Indymac Death Watch: Comment from Reader Steve on Regulatory Intervention

"capital starvation and deflating assets is a general condition"

Comments; Indymac Death Watch; naked capitalism; reader Steve; Regulatory Intervention.

Wed 2008-07-02 00:00 EDT

naked capitalism: Oil: Goldman Versus Faber, Data on Improving Supply/Demand Conditions

;

data; Goldman Versus Faber; Improving Supply/Demand Conditions; naked capitalism; Oil.

Mon 2008-06-23 00:00 EDT

Calculated Risk: More on Bear Stearns Indictment

"managers knew specific material information about the condition of the funds, and then provided false information to investors."

Bear Stearns Indictment; Calculated Risk.

Sat 2008-04-19 00:00 EDT

Mish's Global Economic Trend Analysis: Digging Into Citigroup's Numbers

Citigroup's financial condition continues to deteriorate; Citigroup using accounting tricks to hide deteriorating financial condition

Citigroup's Numbers; digging; Mish's Global Economic Trend Analysis.

Sat 2008-04-12 00:00 EDT

Bear Stearns Details Financial Condition

(AP)

Bear Stearns Details Financial Condition.

Tue 2008-03-25 00:00 EDT

Summary of Terms and Conditions Regarding the JPMorgan Chase Facility - Federal Reserve Bank of New York

(cont.)

Conditions; Federal Reserve Bank; JPMorgan Chase Facility; New York; Summary; term.

Thu 2008-02-14 00:00 EST

Hussman Funds - Going for the Gold

Four simple indicators for monitoring the condition of the precious metals markets; adapted from 1999 Hussman Econometrics

Go; gold; Hussman Funds.

Thu 2007-12-06 00:00 EST

Bear In Mind > Too Much Like 1929

Bear In Mind > Too Much Like 1929 (2007-04); chinese-american economic interconnections; similarities to pre-depression US-British conditions

1929; Bear; mind.

Tue 2007-12-04 00:00 EST

naked capitalism: "Fundamentals, not liquidity conditions, are behind MBS crash"

CreditSights believes MBS pricing in line with fundamentals, since severity loss ratio is historically elevated

fundamental; liquidity conditions; MBS crash; naked capitalism.

Mon 2007-12-03 00:00 EST

Winter (Economic & Market) Watch >> Ministry of Truth to Rectify Key Economic Data

Winter (Economic & Market) Watch >> Ministry of Truth to Rectify Key Economic Data; understating inflation; overstating growth; truck tonnage, container traffic confirm slack demand and recessionary conditions

economic; Market; ministries; Rectify Key Economic Data; truth; watch; winter.

Mon 2007-10-08 00:00 EDT

Winter (Economic & Market) Watch >> Credit Conditions: Halloween is Coming

Winter (Economic & Market) Watch >> Credit Conditions: Halloween is Coming

comes; credit conditions; economic; Halloween; Market; watch; winter.

Wed 2007-09-12 00:00 EDT

Mish's Global Economic Trend Analysis: No Greenspan, Conditions are NOT Like 1998

Fed "embraced every bubble in history"; Greenspan "consistently wrong at every major turn in his entire history as Fed chair"

1998; Conditions; Greenspan; Mish's Global Economic Trend Analysis.