globaleconomicanalysis.blogspot.com - 10/21/2008
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I have been warning everyone about corporate bonds specifically because of rising default risk and rollover risk for quite some time. And indeed Corporate bonds are getting crushed. Here is a chart of Moody's Seasoned Baa Corporate Bond Yield . Baa Corporate Bond Yields click on chart for ...
ft.com - 10/19/2008
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ft.com —
In the summer of 2002, John Diaz, a
managing director at Moody’s Investors Service, was called before...
a US Senate subcommittee investigating the collapse of Enron. The senators wanted to understand why Moody’s had said that the energy trader’s debt ...
(more)
FT.com / Arts & weekend / Magazine - When junk was gold
hemscott.com - 10/18/2008
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hemscott.com —
TEXT-Moody's release on Spanish financial system Oct 17
(Reuters) - (The following statement was released by the...
ratings agency) Oct 17 - Moody's Investors Service today commented on the new additional set of measures to support the Spanish financial ...
(more)
TEXT-Moody's release on Spanish ...
bloomberg.com - 10/22/2008
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bloomberg.com —
Credit-Rating Companies `Sold Soul,' Employees Said (Correct) By
Lorraine Woellert and Dawn Kopecki (Corrects spelling of Sharma's...
first name in 10th paragraph.) Oct. 22 (Bloomberg) -- Employees at Moody's Investors Service told executives that ...
(more)
Credit-Rating Companies `Sold Soul,' Employees Said ...
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Passing the buck, redux
FT Alphaville —
... round of “stabilisation” measures aimed at the world’s banks and credit markets were in that light, merely passing the buck. Throughout the crisis, credit markets have led equity. And it’s for that reason that the latest round of equity rallies look like a short-term uptick in an otherwise downward moving market. Falling Libor and resurgent money market funds do not a credit crisis undo. In the credit market at large, fear is increasing, not abating. Mish Shedlock points to an “ armageddon in corporate bonds”, and publishes ...
Creditville: Mixed Signs / Corporate Bonds Under Distress
Manhattan Real Estate: New York City Real Estate Tips —
A: A quick check here as there are good & bad signs since the peak of fear indicators a few weeks ago. As LIBOR & TED spreads ease, the corporate bond market seems to be getting way worse. Mish was all over this two days ago. I discuss corporate bond spreads to treasuries here every now & then, ...
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Moody’s Intrinsic Value
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Record Spreads between 30 Year Corporate and Treasury Yields
calculatedrisk.blogspot.com 11/16/2008 — Here is another measure of credit stress. The following graph shows the spread between 30 year Moody's Aaa and Baa rated bonds and the 30 year treasury. The Moody's data is from the St. Louis Fed : Moody's tries to include bonds with remaining ...
Blaming Moody’s
ritholtz.com 12/7/2008 —
“These errors make us look either incompetent at credit analysis or like we sold our soul to the devil for revenue, or a little bit of both.”
— A Moody’s managing director responding anonymously to an internal management survey, September 2007.
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Credit Crisis Indicators
calculatedriskblog.com 4/3/2009 — Here is a quick look at a few credit indicators: First, the British Bankers' Association reported that the three-month dollar Libor rates were fixed at 1.166%. The LIBOR was at 1.30% a couple of weeks ago, and peaked at 4.81875% on Oct 10, 2008. This ...
Buffett Is Unusually Silent on Rating Agencies
dealbook.blogs.nytimes.com 3/22/2009 — In his annual Berkshire Hathaway letter, Warren E. Buffett recently urged investors to pose tough questions at the shareholders meeting in May. Here is one that The New York Times's David Segal says is on the mind of some Buffett watchers: When are ...
Bond Trading Highest Since ‘07
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Rubber Stamp Agencies
economistsview.typepad.com 12/11/2008 — Ratings agencies are supposed to solve market failures, not create them. The market failure arises because in most cases it's prohibitively costly for individual investors to collect and analyze the information they need to make informed judgments ...
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