Homebuilder stocks rise on surge in mortgage applications; Fed actions pushed 30-year fixed mortgages to 3-year low; RBS Greenwich Capital: 5.5% loans now eligible for refinancing; JMP Securities: California supply tightens, starts to improve;
December 04, 2008
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data, ability to repeat discredited memes, and lack of respect for scientific knowledge. Also, be sure to create straw men and argue against things I have neither said nor even implied. Any irrelevancies you can mention will also be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.
Faced with the choice between changing one's mind and proving that there is no need to do so, almost everyone gets busy on the proof. —John Kenneth Galbraith
Knowing that the vote over the weekend in Greece was really a referendum on Euro membership, a majority of the Greek Parliament said yes to staying. European Finance Ministers meet again on Wednesday to solidify the 2nd bailout package for Greece at the same time hopefully a deal is consummated between Greece and its creditors this week. The Greek 14.5b euro bond that matures on March 20th is up by 2 pts. The optimism that all will be completed and contained AGAIN to Greece has yields lower in Portugal, Spain and Italy. The iTraxx Financial Index is also narrower by...
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December 4th, 2008 at 12:40 pm
The long rate was the clincher. That seals the deal. My other clue is call options. Jan 2010 near the money only predicting a 10% rise rate per year. That’s way too bearish considering the down turn.