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rally
Latest Headlines
Latest Headlines
Turning bullish on asset managers?
Obviously, the market carnage toward the end of last year was pretty devastating for asset managers. As assets sank, so did their stocks. But it also prompted some cost-cutting and a renewed drive toward efficiency, all of which helped lay the groundwork for an eventual recovery--which may or may
A cruel rally in junk bonds
Bloomberg notes that a strong rally in high-yield bonds has cursed many ailing companies that were hoping to buy back debt or exchange them for other bonds. To cut their debt burdens, lots of companies were taking advantage of severely discounted prices. Now that opportunity seems to be slippi
More fodder for Goldman Sachs conspiracy theorists
We noted recently that VAR at Goldman Sachs has spiked, even as its competitors continue with their lower risk approach. The New York Post adds some color to the issue, reporting that Goldman Sachs has been on a program trading tear. During the week of April 13, the "bulk of the 1.234 billion
Ready for 'write-ups' in the second quarter?
Breakingviews notes another reason to think that the worst of the credit crisis may have passed. Credit default swaps on collateralized debt obligations and leveraged loans have staged impressive rebounds. Prices have really rebounded. That raises the prospect of "write-ups" for the second qua
Another round: Lehman Brothers vs. shorts
The Lehman Brothers  bears took a bath when the market rallied on the news that the company had raised $4 billion to shore up its capital position. A lot of put buyers and short sellers were hit hard. Lehman Brothers now thinks the heaviest shorting came from hedge funds that illegally conspi
Lehman doubters' short-sightedness backfires
Recall all the rumors about Bear Stearns right before its final implosion; they were pretty intense--so intense that the SEC is looking into whether they were fanned by traders with massive short positions. The shorts won that battle. While Lehman Brothers  has been hit with similar rumor
