tag:blogger.com,1999:blog-4863014635257598503.post6097282826161077749..comments2024-02-27T22:18:53.706-05:00Comments on Zero Hedge: Some Last Thoughts On Market LiquidityTyler Durdenhttp://www.blogger.com/profile/00165439451205639523noreply@blogger.comBlogger7125tag:blogger.com,1999:blog-4863014635257598503.post-48737536207003949772009-04-13T17:26:00.000-04:002009-04-13T17:26:00.000-04:00that the CPMKTLTBI & CPMKTLTBO is included in ...that the CPMKTLTBI & CPMKTLTBO is included in this should give everyone a clue as to when cliffdiving off Point Dow resumes.johnny walker blacknoreply@blogger.comtag:blogger.com,1999:blog-4863014635257598503.post-55025203191549791192009-04-13T10:14:00.000-04:002009-04-13T10:14:00.000-04:00Dude, that's garbage - you KNOW the TED spread is ...Dude, that's garbage - you KNOW the TED spread is doctored beyond measure by the pariticpating banks and the working group. The only real measure from a credit point of view is the LIBOR-OIS spread, and even that is not immune to LIBOR shifts. Regardless, the latter is hardly painting the rosy picture the TED does.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4863014635257598503.post-29399311355303267432009-04-13T10:10:00.000-04:002009-04-13T10:10:00.000-04:00This is in fact not a measure of liquidity at all....This is in fact not a measure of liquidity at all. It is merely grahping the total return of short term markets. The reason why it used the term "liquid" in this case is b/c it is looking at securities inside of 12 mos to maturity (think m1-m3 types of instruments) and thus represents the more "liquid" or cash equivalent securities of the market. Do not confuse this with "liquidity" which this graph does not measure. Liquidity measures try to show the ability to trade positions freely. Lastly, the only reason why this number has shrunk recently is that shorter term securities are yielding virtually nothing these days (take a look at your bank acct), and as another poster mentioned already, market assets are slowly trickling back into riskier asset classes (ie equities). A better indication of liquidity in the overall market would be measures such as the TED spread.convexityhttps://www.blogger.com/profile/14610068148866228266noreply@blogger.comtag:blogger.com,1999:blog-4863014635257598503.post-21731070397043919702009-04-13T09:52:00.000-04:002009-04-13T09:52:00.000-04:00Abby is allowed to point toward the moon. Wonder w...Abby is allowed to point toward the moon. Wonder why? Vindication for her. GS straps on additional booster rockets.<BR/><BR/>Get ready to feel some negative G's as we head toward her 1000 target.<BR/><BR/>Have a great day!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4863014635257598503.post-57934480976455094442009-04-13T09:50:00.000-04:002009-04-13T09:50:00.000-04:00This chart could signify money coming out of short...This chart could signify money coming out of short term fixed income and into equities. It may not necessarily be a negative data point?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4863014635257598503.post-9969591294264915492009-04-13T09:47:00.000-04:002009-04-13T09:47:00.000-04:00Goldman earnings ( if they will be good :)) ) are...Goldman earnings ( if they will be good :)) ) are already in price :)))Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4863014635257598503.post-89428007283502184772009-04-13T09:26:00.000-04:002009-04-13T09:26:00.000-04:00Goldman will release earning tomorrow. Shorts, Wat...Goldman will release earning tomorrow. Shorts, Watch out!Anonymousnoreply@blogger.com