Wednesday, June 24, 2009

Frontrunning: June 24

  • State Street, which is underweight bonds, sees Treasuries at 4.5% in 6-12 months (Forbes) [State Street is also underweight shorting]
  • Swiss Franc drops on speculation SNB sold currency to curb gain (Bloomberg)
  • Fears of big bank problems return (Fortune, h/t Jonathan)
  • Green shoots lunacy is back: durable goods allegedly imply recession weakening (Bloomberg)
  • Italy economy minister says bank lending remains an "open issue" (Forbes)
  • Citi, BNP have biggest exposure to $6.3 billion in Saudi debt workout (Bloomberg)
  • Bundesbank sees increasing risk of deflation (Traders Community)
  • Legg Mason calls it: the worst financial crisis (Footnoted)
  • Conflict for Cuomo emerges: AG's money manager received funds linked to pension scandal (Bloomberg)
  • Mortgage bombs, quiet for now, await the next boom (Bloomberg)
  • Risk of large drop prompts stock hedging according to Morgan Stanley (Bloomberg)
  • UK said to push for bank revamp of investment arms (Bloomberg, h/t Steve)
  • Tightening credit puts a squeeze on on business owners (LA Times)
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