Yesterday,
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You’ve got to be a rosy credit analyst to think that a lending firm can go bankrupt due to issues with their loan customers and funders,
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The bonds downgraded (or placed under review) by Standard Poors include three that were previously rated AA,
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Here’s the rub; some of the more conservative fixed income desks strive to earn maybe 100 basis points a year above the "risk free" rate on their portfolio of bond investments. If that pool of assets is,
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If you had allocated merely 1.5% of your portfolio ($30 million) to these higher yielding mortgage bonds,
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To make matters worse,
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As you’ve read here since we began our corporate blog last September,
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If US$50 billion of adjustable rate mortgages are due for 2.0% rate increases this summer,
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And Moody’s has just downgraded merely 1.2% (!) of their 2006 subprime bond ratings,
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With billions of more loans going up in price this summer,
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Who wants to buy a bond fund right now,
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And that’s not the only collateral damage. CIBC (NYSE:CM),
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This is the reality of the capital markets. Despite all of the positive news in the equity markets,
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Then there are the new plays,
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