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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: TobagoJack who wrote (11662)	11/17/2006 9:34:15 AM
From: foundation	Read Replies (2) \| Respond to of 217825

Bankers push limits in hot debt markets Thu Nov 16, 2006 1:10 PM ET <snip> "... LONDON (Reuters) - A surfeit of liquidity in the financial markets is tempting bankers to underwrite and finance deals that may come back to haunt them, a top banker at Goldman Sachs said on Thursday. Eugene Leouzon, the chief underwriting officer for Europe and Asia at Goldman Sachs <GS.N> who sits on the investment bank's global credit committee, said the current conditions were unparalleled in his experience of investment banking. "The markets are really, really red hot," said Leouzon, who approves new loans and debt deals to fund mergers and acquisitions (M&A). "The things we are seeing being done, both on the investment grade side and the non-investment grade side, are I would say borderline stupid," he told the Reuters Investment Banking Summit in London..." <snap> today.reuters.com ---------- LOFL!

To: TobagoJack who wrote (11662)	11/17/2006 10:18:24 AM
From: elmatador	Read Replies (2) \| Respond to of 217825

TJ CAD can collapse. The currency has been supported by money going into Canada M&A. "One of the reasons it's not down is because these M&A (merger and acquisition) flows have artificially supported the value of the currency." Watch out if M&A go down CAD will go down.

To: TobagoJack who wrote (11662)	11/17/2006 11:33:37 AM
From: elmatador	Read Replies (1) \| Respond to of 217825

Dollar falls on talk of problems at hedge fund. But no gold skyrocketing. "Rumors of a major U.S. hedge fund collapse appear to be behind the dollar's latest dip," said Brian Dolan, director of research at Forex.com, a division of Gain Capital TJ, shouldn't gold be skyrocketing in those news?

To: TobagoJack who wrote (11662)	11/17/2006 5:02:58 PM
From: foundation	Read Replies (1) \| Respond to of 217825

Housing Free Fall Turning into Meltdown...2007 Recession Ahead Nouriel Roubini \| Nov 17, 2006 <snip> "... For the last few weeks and months I have been writing dozens of detailed notes and blogs (see my latest here) rebutting the utter nonsense that has been spewed - based on little or no data - on the alleged bottoming out of the housing recession. Even Alan Greenspan - the allegedly careful reader of macro data - had joined this cheerleading clown show and the NAR spin of half-lies that "we are near the bottom of the housing recession". The actual data that were coming out of the housing market in the last few weeks were clearly inconsistent with this cheerleading non-sense and spin. So, maybe these delusional optimists will now shut up for a while and listen to the numbers after today's announcement that housing starts fell over 14% last month and that they are now at their six year low. Even worse, building permits, that are THE leading indicator of future housing activity, fell further by 6.3% and they are now at their lowest level since 1997. And even at these low levels of permits and housing starts the housing sector is nowhere near its bottom. In previous housing recessions, housing start fells as much as 40% to 50% from their peak; so, with starts now being only 27% down, the housing bust has still a very long and ugly way downward to go. And lower permits today mean lower housing starts ahead, and lower starts mean lower construction and lower construction means much lower construction jobs; expect over 800K jobs to be lost in housing in the next year. So beware of the new spin that you will hear soon claiming that, with starts now down 27%, the bottom of the housing bust is near; building permits and housing starts are likely to fall at least another 20% in the next 12 months before any bottoming out of the worst housing bust in the last five decades is reached in 2008. And in spite of lower starts the glut in the housing market is getting much worse (not better as delusional optimists are spinning it): indeed the completions of current housing projects will dump another huge mass of unsold homes into the market in H1 of 2007 at the time when the speculative demand for housing ("condo flipping "investments) is collapsing and the fundamental demand for housing is collapsing too as the economy spins from a sharp slowdown into a recession. As I predicted last summer real home prices are likely to fall at least 30% in the next 3 years; and new home prices are already falling at a 10% annual rate. They will fall much more as the 90% increase in real home prices since 1997 was a massive speculative price bubble based on little fundamentals. And now the housing recession is spreading to non residential construction..." rgemonitor.com