trying on a metaphor
PUT YOUR BEARD IN MY MOUTH
dirt enthusiast
Lint Roller? I Barely Know Her
No title available
No title available
#extradirty
Mike Driver
KIROKAZE
祝日 / Permanent Vacation
taylor price
DEAR READER
⁂
I'd rather be in outer space 🛸
Claire Keane
No title available
sheepfilms
Sweet Seals For You, Always
$LAYYYTER
d e v o n
seen from Egypt
seen from Uzbekistan
seen from Malaysia
seen from Costa Rica
seen from United States
seen from United States
seen from United States
seen from United States
seen from United States
seen from Lithuania
seen from United Kingdom
seen from Netherlands
seen from Canada
seen from Canada
seen from United Kingdom
seen from Malaysia
seen from Germany
seen from United States
seen from United States
seen from United States
@arjun999
Notice of personal information processing. (This is not an advertisement)
Personal Information Notice This notice serves to provide you information about the collection, processing, and sale of certain of your personal information (“personal information”) by Lusha Systems Inc. (“Lusha”). Please continue reading below for more information about the information we collect, how we gather it, and how it is used and shared. Lusha’s proprietary online software assists…
View On WordPress
MSFT buyback yet another low interest rate story
Company buys 8.7% of market cap (post announcement pop) and makes dividend yield close to 2.7%. Why not? It can always borrow at 75 over ten yr like last time (2.45% at today’s close) and write off interest costs. Capital restructuring.
View On WordPress
Brexit - consequences for investors
Brexit – consequences for investors
BREXIT and the consequences for global investors
The markets (and pollsters) got the BREXIT all wrong last week and Britain did indeed decide to unshackle itself from increased Federalization – and an external Federalization at that. The magnitude of the exit vote surprised even the exit-vote camp, and global markets sharply turned south as investors were seen paring risk and ploughing into safe…
View On WordPress
Brexit - Is it a big deal?
Brexit – Is it a big deal?
BREXIT – short for Britain Exiting the EU – has captured attention, for political and economic reasons. While the long-term effects of Britain staying or leaving the EU are debatable, the immediate attention has been Britons’ divided opinion casting a negative pall over the concept of EU itself. Britons, for the “exit from EU” camp, are asserting centuries-old style of British independence from…
View On WordPress
PIPPA MALMGREN: China thinks the US will default via inflation - Business Insider
PIPPA MALMGREN: China thinks the US will default via inflation – Business Insider
https://apple.news/AC7BlNXrNSJep–jk8lZLGA
View On WordPress
Can fed raise rates with flat 2s 10s?
The story is of low global growth and even lower inflation. With that backdrop, there should be an ever-present long-duration buyer to anchor in returns and therefore forcing its effects on shorter duration paper (thus explaining the current flattening in 2-10s).
Today’s wsj also talks of real inflation being closer to zero because of inconsistencies in CPI that don’t take into account changing…
View On WordPress
Why Ackman is right and wrong about index funds
Why Ackman is right and wrong about index funds
Ackman rightly says that index funds will “keiretsu” corporate America by showering attention (passive as well) on a mostly-stagnant pool of assets, thus propelling their value over time (and unfairly over the rest of the herd). But if mean-reversion holds true, those index funds will create a minefield for themselves and self-destruct; because as value creation dies (falling victim to stupid…
View On WordPress
"too big to fail". Now a buyside mantle?
“too big to fail”. Now a buyside mantle?
fast forward to the end and gross makes a compelling point
http://bit.ly/1CA62uX
View On WordPress
REVERSE INQUIRY - THE NEW MANTRA - CASH ON SIDELINES CANNOT WAIT
REVERSE INQUIRY – THE NEW MANTRA – CASH ON SIDELINES CANNOT WAIT
REVERSE INQUIRY – THE NEW MANTRA – CASH ON SIDELINES CANNOT WAIT http://www.bloomberg.com/news/articles/2015-06-25/america-s-new- bond-underwriters-have-arrived-in-search-of-alpha
View On WordPress
Credit comment: Volatility in rates stepped up a few notches
Credit comment: Volatility in rates stepped up a few notches
Credit comment: Volatility in rates stepped up a few notches as a Greek deal tetered between German-mandated further austerity requirement and Greek demands for relief; we saw more mud-slinging from both sides with little clarity. After widening most of the time during the rate backup, credit decided to draw its line in the sand and make some wary gains (IG is probably 4-5 bps better). The story…
View On WordPress
Credit comment
Everyone’s talking about liquidity and the ensuing crunch from its lack thereof, but that has not stopped the new issue engine to keep steaming along. Probably, CFOs and Treasurers fretting over rate increases and moving to lock-in the last of the low rates – presumably to pay equity holders with dividends and share repurchases. And probably explains why credit spreads are weaker even as rates…
View On WordPress
Credit comment
You could not have missed the 100yr PETBRA bond. It described the market beautifully: a 100-yr maturity but just a tad longer than the PETBRA 44s in duration, and less riskier than the 44s because of its lower dollar price (came @$81) – a fact missed by most market pundits. The book ran up to $7bb as buy-side folks scrambled to get the yield. Gone from investor’s minds were worries about the…
View On WordPress
Credit comment
The tug of war continues between the Grecian representatives and their lenders with confusing headlines overall. The concern extended to Greece missing its June IMF payment.
This week may provide more clarity with Greece expected to stay in the Euro with lender concessions. The drama has weighed on our market with stronger Treasuries and weaker credit spreads. Month-end Index rebalancing did…
View On WordPress
Credit comment
Investment Grade spreads have been holding steady at +135 bp or so while High Yield has compressed a bit, around the +450 bp mark. As the rate decision seems to get pushed back later, the treasury curve has steepened quite a bit (10-30s 80 bp now — tights were +55 bp). Also, the dollar has suffered vs the Euro (1.09 now vs 1.04 tights) and other currencies. The Ruble meanwhile has quietly…
View On WordPress
(BV) Why the Fed Worries About Other Countries: Mohamed A. El-Erian
(BV) Why the Fed Worries About Other Countries: Mohamed A. El-Erian
View On WordPress
(BV) Forest Oil Finds Gusher in Its Bond Indenture: Matt Levine (1)
(BV) Forest Oil Finds Gusher in Its Bond Indenture: Matt Levine (1)
View On WordPress
(BN) U.S. 30-Year Bond Return Tops 25% in 2014 Gain With Bunds, Gilts
(BN) U.S. 30-Year Bond Return Tops 25% in 2014 Gain With Bunds, Gilts
View On WordPress