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TED Spread

The Financial Crisis Is Not Over

The June Monthly Commentary By Annaly Capital Management. The Economy: The financial crisis is not over The Residential Mortgage Market: The tale of "fails" in the mortgage market The Commercial Mortgage Market:…

TED spread signals better conditions

Despite the gloom and doom that you might read right here, things are certainly much better in credit markets than at the height of the credit crisis. Of course we still have a long way to go, but this chart from Bloomberg of the TED…

Credit markets are easing again

Credit markets continue to return to less extreme levels. While we are nowhere near where we were before the onset of the Lehman-induced panic, we are well off the panic levels of the worst of the crisis.The Times of London is reporting…

The panic has indeed subsided

Last week, I wrote a cheeky little post called "The Panic is over," in which I argued that the Panic phase of this crisis would ebb and the more chronic problems of excessive debt, leverage and recession would move center stage. Of course,…

Asia is next

So, I am back in the saddle after a great weekend in Palm Beach. And three days almost entirely away from Newspapers, Televisions, Telephones, and Computers is a very good thing to clear the head. (Although I did happen to catch Sarah…

Noontime markets update

The markets are having a very bad day today. After we saw the Europeans were also vulnerable to this credit crisis, stock markets worldwide sold off, with many European markets seeing their largest drops since 1987. For Europe, today is…

Libor-OIS spread at an all-time high

Further proof that the credit markets are on the brink of systemic collapse is the fact that the widely followed risk spread Libor-OIS is at a record high. In the year before August 2007 when the credit crisis began, this spread averaged 8…
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