AAA Paper? 92.5% Are Not

That headline is a bit of an exaggeration.

So what is the quality of the collateral willing to be accepted by the new Term Securities Lending Facility (TSLF)?  As we noted earlier, much of this paper is junk.

Consider this recent survey of triple A (AAA) paper, at risk of losing their AAA rating in the ABX Indexes, via Bloomberg: 

Click thru for interactive chartAaa_bonds_in_abx_fail

Source: Bloomberg

Category: Credit, Derivatives, Fixed Income/Interest Rates

Fed Rally on Garbage Paper!

Category: Credit, Federal Reserve, Markets, Trading

Fantasy-based Economics

Category: Currency, Markets, Psychology, Taxes and Policy

Crude Oil = $108

Category: Commodities, Earnings, Technical Analysis

Reuter’s Quote of the Day

Category: Media, Politics

Apple iTunes to Sell Beatles Songs?

Category: Digital Media, Music

What a Difference 18 Months Make (or, Reality Bites)

Category: Commodities, Credit, Derivatives, Markets, Trading

Bloomberg & ABC TV Says Spitzer Resigning

Category: Legal

Rumor of the Day: Bear Goes Belly Up

Category: Credit, Derivatives

Crude Oil = $107

Category: Commodities, Energy, Technical Analysis