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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Cogito Ergo Sum who wrote (11948)	2/18/2009 12:41:26 PM
From: Hawkmoon	Respond to of 33421

That is the troubling part.. I think we are far too early for inflation.. but it's going up and does look strong.. I think it's just being manipulated to the upside for lack of any other bull market. Btw, some important news out of the monolines today.. MBIA is forming a separate company to insure municipal bond issuances. biz.yahoo.com Most importantly, MBIA's CEO stated they would no longer use CDS derivatives: Brown said in a letter to shareholders that the company has stopped using credit derivatives, which MBIA employed to guarantee many structured finance instruments, because their price fluctuations had a dire impact on the company's financial statements. I wonder what this means to those who are long CDS contracts when they can't find a counter-party to write one? Hawk