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Strategies & Market Trends : Joe Stocks Trader Talk

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To: Joe Stocks who started this subject	2/3/2002 11:52:11 AM
From: Joe Stocks	of 787

Credit Bubble Bulletin- I don't know how many of you read Doug's Noland's weekly credit summary and commentary. He does a pretty good job of providing a bunch of "credit" issues. I think credit problems are going to break this market eventually and current excessive debt will stall any attempt at recovery. I live in the Atlanta area. Today's paper reported bankruptcies are up 14% and foreclosures are up 50% January over January. Here is the link for Doug Nolan's summary and an excerpt (always has some interesting graphs): prudentbear.com >>Jan. 31, Reuters – “In a fresh sign that the credit woes of companies worldwide have not abated, Standard & Poor’s said on Thursday that 41 issuers defaulted on $31.3 billion of rated bonds in January. Both totals set records for a single month.” “Record high yield defaults finally took their toll on the CDO market in 2001. Whereas there were only 20 CDO deals downgraded in 2000, this past year saw the downgrading of 130 CDOs with 129 placed on negative review.” Bank of America

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