Mon Jul 14, 2008 14:23 GMT |
Using the word ‘unprecedented’ too often risks diluting its significance. But with the US government’s rescue of government sponsored enterprises (GSEs) Fannie Mae and Freddie Mac, we are once again in unprecedented territory, following on from the Federal Reserve’s aggressive intra-meeting rate cuts, the opening of new Fed lending facilities, and the last-ditch rescue of… [Read more]
Tags: Bear Stearns, credit crunch, Fannie Mae, Fed, Federal Reserve, financial stocks, Freddie Mac, GSEs, Lehman Brothers, US Treasury
Posted in: Equities, Financials, General
Fri Jul 11, 2008 16:40 GMT |
At the moment, the view of financial stocks is playing out. Remember the monthly chart we ran recently of AIG, which we said looked ‘awful’. Yesterday the price dropped to below US$24.00, despite the bounce in the Dow Jones index. This is not a good sign, and we continue to see the stock falling to… [Read more]
Tags: AIG, commodity prices, cost of energy, deflation, disinflation, dollar, euro, Fannie Mae, Freddie Mac, gold prices, GSEs, inflation, Iran, Nigeria, oil prices, sterling, US financial company, US financial stocks
Posted in: Commodities, Equities, Financials, General