Wednesday, February 18, 2009

17% Default Rate Implies Default A Day

Nothing so far today, means two tomorrow.

In the meantime apparently there was movement higher in auto term loans today as the rescue proposals imply government funding would rank junior to existing private financing. Chrysler, Ford and GM all gained 2-3 points in intraday trading.

Also, Bernanke to release Long-Term economic forecasts and present the Fed's long-term inflation goal. Fed says "credit risk in Fed actions exceptionally low." Greenspan used to say bubble risk in Fed actions exceptionally low too... Sphere: Related Content
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G.W. said...

When you quote "Chrysler" being bid 2-3 points higher I was wondering if you could tell me which debt you're looking at. Just curious because I haven't seen a real quote on Senior Secured in months.