ARGUMENTS DES BEARS

[serge.harimax]

Goldman Had 20 Days of Trading Losses Last Quarter

July 7 (Bloomberg) -- Goldman Sachs Group Inc., the securities firm that generates more trading revenue than any of its U.S. rivals, lost money on 20 days last quarter, more than the prior period, as the value of credit products fell.

The New York-based investment bank lost at least $100 million on nine trading days in the three months to May 30, compared with six days in the previous quarter, according to a filing with the U.S. Securities and Exchange Commission today. The firm lost money on 17 days during the first quarter. The days when Goldman earned more than $100 million by trading fell to 27 from 28, the filing showed.

http://www.bloomberg.com/apps/news?pid=20601087&si...

[Bernie_Bruxelles]

Citation de : chris83 (au 07-07-2008 19:29:31)

un truc que je ne savais pas

La charge de la dette enfle et pourrait être supérieure de 2 milliards aux 1,5 à 2 milliards déjà prévus par M. Woerth, du fait de l'indexation sur l'inflation de 10 % à 12 % des emprunts des administrations. S'il veut réduire le déficit public à 2 % du PIB en 2009 et tenir son engagement de retour à l'équilibre en 2012, le gouvernement devra s'imposer une discipline de fer. Or la France, comme l'a noté la Cour des comptes, n'est pas douée pour ce genre d'exercice. Elle fait même presque jeu égal avec la Suède en matière de dépenses publiques (plus de 52 % du PIB de deux pays).

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En Belgique idem : controle budgetaire en cours : hausse de la charge budgetaire due à l'inflation : 100 millions d'euros ... va falloir que les états commencent eux aussi à intégrer ce type de facteur dans leurs bilans et cela risque de faire du dégat !

[chris83]

rassurez vous sur l état de l economie US...c est le TRESOR US qui parle

http://www.dailypaul.com/node/54393


incroyable !

[chris83]

ambiance à la FED

CHICAGO, July 3 (Reuters) - The Federal Reserve's use of core inflation measures is harming its credibility, the new president of the St. Louis Fed wrote in an editorial released on Thursday.

James Bullard, who took over from William Poole in April, said focusing on inflation indices that exclude food and energy work well when those prices are rising at rates similar to those of other prices, "but that is not what is happening today.

"It is hurting Fed credibility to say that we are trying to keep inflation low and stable, but at the same time we are not counting some of the prices that are going up at the most rapid pace," Bullard wrote in the bank's magazine, "The Regional Economist."

[chris83]

destruction du mode de vie US

About 7.8 million Americans — or about one worker in every 20 — held more than one job in June, according to the employment data released Thursday by the Bureau of Labor Statistics. Some of those people may have three jobs or more. The BLS only asks if you work more than one. And it doesn't ask why.

[chris83]

voilà Indymac

PW
Supprime 3400 emplois
Lance une AK visiblement...not well capitalised

Airtran supprime 480 jobs..pilotes et naviguants

commodities en forte baisse coté agricole
Gasoline en hausse..


Bertha catégorie 3 et 200 km/h....juste trop au nord.....on va voir pendant la nuit

[serge.harimax]

Bertha peut faire des vagues quand même:

http://www.nhc.noaa.gov/refresh/graphics_at2+shtml...

[serge.harimax]

Freddie Mac, Fannie Mae shares pummeled

NEW YORK (Reuters) - Fannie Mae and Freddie Mac shares plunged to their lowest in nearly 16 years on Monday while costs to insure their debt against default rose on concern the two largest U.S. mortgage funders may need to raise vastly more capital amid larger-than-expected losses.

Corporate "federal agency" debt obligations and mortgage-backed securities guaranteed by the companies also plummeted relative to government debt as investors reduced positions in response to the latest worries, analysts said.

The shares crumbled after a Lehman Brothers report said a pending accounting change could force Freddie Mac and Fannie Mae to raise an enormous amount of capital at a difficult time. The rule aimed at forcing companies to account for securitized assets on their balance sheets could mandate Freddie Mac and Fannie Mae to boost capital by $29 billion and $46 billion, respectively, the analysts wrote in a client note on Monday.

In a caveat, Lehman's analysts, led by Bruce Harting, said the companies may get exemptions given the gravity of the impact on the fragile U.S. housing market.

But the downturn in prices of risky mortgage assets held by Freddie Mac and Fannie Mae as the credit crisis worsened has also boosted chances for greater losses, analysts said. Prices on some subprime bonds hit record lows last week, gauging from derivative indexes.

The accounting issue "piled on to other folks' previous estimates that the companies might be forced to take (losses)" on subprime and other risky mortgage assets, said Thomas Lawler, a former Fannie Mae portfolio manager and founder of Lawler Economic & Housing Consulting in Leesburg, Virginia.

Meanwhile, their equity investors have lost a collective $89 billion as their stock market values have tanked since the crisis erupted last August -- $36.9 billion for Freddie and $52.1 billion for Fannie.

Both companies will need to raise more capital, but the accounting rule that would upend their businesses "has a "snowball's chance in hell of happening," Lawler added.

Concerns that Freddie Mac could suffer greater losses from mortgage insurance were also fueled on Monday after research firm CreditSights said the mortgage insurance unit of Radian Group could face more downgrades, forcing it to wind down its existing business. That increases risks for Freddie Mac, which had $63 billion of loans or pools of loans backed by Radian as of March 31.
A Freddie Mac spokeswoman said the company does not intend to raise capital until it announces second-quarter earnings, and declined to comment on the ability to raise capital as shares fall. The timing disappointed analysts since the company announced in May it would raise $5.5 billion.

http://www.cnbc.com/id/25577145/for/cnbc

[serge.harimax]

Chile growth slows to 2.1 percent in May

SANTIAGO, Chile - Chile's Central Bank says annual economic growth slowed to 2.1 percent in May as one of Latin America's most stable economies cools amid a global downturn.

The bank says growth dipped to 2.1 percent in May, down from 4.8 percent annual growth in April and 5.1 percent GDP gains in 2007.

Chile's vice president said slowing growth and rising inflation are putting the country in a tough spot, forcing the central bank to choose between continuing to raise interest rates to slow inflation, or holding them in a bid to maintain growth.

Annual inflation reached 9.5 percent in June, the highest since 1994.

[serge.harimax]

Japan June corporate failures rise 7.1 percent - Teikoku

http://www.cnbc.com/id/25578587/for/cnbc

[serge.harimax]

Yen Gains on Speculation U.S. Mortgage Industry Losses to Widen

http://www.bloomberg.com/apps/news?pid=20601087&si...

[serge.harimax]

Nouvel emballage:

Toxic CDOs Given Up for Dead Coming to Life With Pension Funds

Collateralized debt obligations that helped drive banks to $400 billion of writedowns and credit losses are finding buyers under a different name: Re-Remics.

Goldman Sachs Group Inc., JPMorgan Chase & Co. and at least six other firms are repackaging unwanted mortgage bonds as sales of CDOs composed of asset-backed securities fall to less than $1 billion this year from $227 billion in 2007 because of the global credit crunch. Re-Remics contain parts that are structured to guard against higher losses on underlying loans than most CDOs, allowing holders to sell or retain other sections at lower prices that can translate to potential yields of more than 20 percent.

``It's just the reincarnation of the CDO,'' said Paul Colonna, who manages more than $100 billion as chief investment officer for fixed income at GE Asset Management in Stamford, Connecticut. ``The mechanics are the same, but you're getting in at a much different level of valuation.''

http://www.bloomberg.com/apps/news?pid=20601109&si...

[serge.harimax]

Frontline Income at Risk as Record Oil Hits Shipping

Oil prices that generated record shipping fees for Frontline Ltd., and the rest of the tanker industry, may reduce corporate earnings as demand growth slows and a new armada enters the market.

Frontline, the world's biggest oil shipper, led the five- member Bloomberg Tanker Index to its best quarter in almost four years. Now the industry will contend with a 15 percent drop in rental rates in the second half, a Bloomberg survey of 13 analysts and brokers showed.

Earnings will weaken because of a fleet expansion that the International Energy Agency says will ``massively'' exceed growth in cargoes over the next two years. The increase in vessels will combine with the slowest growth in oil demand for six years as the global economy loses steam, driving tanker rates 65 percent lower by 2010, futures contracts show.

[borgia]

Citation de : chris83 (au 07-07-2008 22:37:14)

voilà Indymac

PW
Supprime 3400 emplois
Lance une AK visiblement...not well capitalised

Airtran supprime 480 jobs..pilotes et naviguants

commodities en forte baisse coté agricole
Gasoline en hausse..


Bertha catégorie 3 et 200 km/h....juste trop au nord.....on va voir pendant la nuit

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salut,

tu ne souhaites tout de meme pas qu'il vire à l'ouest ?

[chris83]

ca serait hyper cool qu il parte plein ouest.....il se dirige ouest nord ouest pour le moment....260 km/h...catégorie 3 toujours

Il est entendu que je ne veux pas qu il frappe une zone habitée.....mais qu il traverse tout doucement à 'àà km/h le golfe du Mexique...)