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Traders Thread - Wednesday 22nd August (TRAD)
Greystone
- 21 Aug 2007 21:08
Greystone
- 21 Aug 2007 21:09
- 2 of 56
Hello traders!
In the US tonight, the Dow Jones was off 30.49 points at 13,090.86, while the
S&P500 gained 1.56 points at 1,447.11 and the Nasdaq Composite was 12.71
points ahead at 2,521.30.
See you in the morning with the latest....
G.
In the US tonight, the Dow Jones was off 30.49 points at 13,090.86, while the
S&P500 gained 1.56 points at 1,447.11 and the Nasdaq Composite was 12.71
points ahead at 2,521.30.
See you in the morning with the latest....
G.
Kyoto
- 22 Aug 2007 04:07
- 3 of 56
| Director Dealings - Tuesday 21 August 2007 |
Kyoto
- 22 Aug 2007 04:10
- 4 of 56
Morning all. Market reports:
Telegraph
The Times
The Times (Need to know)
The Guardian
The Independent
This is Money
Afterwards, Senator Dodd said he had the impression that Mr Bernanke was unhappy with the market reaction to last week's cut in the Fed's discount lending rate and could either cut further or even slash the Fed funds target rate. "I asked the chairman of the Fed whether he was willing to use all the tools available to him and he said, 'Absolutely'," Senator Dodd said after the meeting.
Trading in London's credit markets was very tight yesterday and the interbank market was described as being in a "state of near-crisis".
"Thirty years in the market and I've seen nothing like it before - it looks like the interbank market has stopped functioning," said one trader. "It's as if the banking system has seized up. The market is simply not lending to each other, and if this goes on it could start to chip away at banks' capital. If you told every bank to liquidate, there wouldn't be a solvent bank."
Paulson fails to quell Dow jitters
Market watchdogs yesterday raised the prospect that some firms hit by the turmoil in financial markets were resorting to fraud in a last-ditch bid to survive.
The Securities and Exchange Commission filed civil fraud charges against Sentinel Management Group, claiming the investment adviser stole clients' money to prop up its own trading accounts. The company, which manages short-term cash for hedge funds, also allegedly used its clients' assets as collateral to leverage its funds without telling them.
SEC accuses Sentinel of using market turmoil to hide fraud
Credit Suisse has become the latest big investment group to abandon its bearish stance on the markets and advise clients to start buying equities again.
Credit Suisse bullish over equities
The credit crisis inched closer to the heart of the British financial system yesterday as HBOS, the banking group, disclosed that it was bailing out a vast in-house fund that has been struggling to finance itself.
HBOS, which owns Halifax and Bank of Scotland, said that it would extend credit to Grampian, a $37 billion (£19 billion) Jersey-registered debt- financed fund, until market conditions improved.
The move came as the Bank of England disclosed that it had provided £314 million of emergency funding to a financial institution that it did not name, but which is understood to be Barclays.
Sources described Barclays’s use of the Bank’s emergency facility, which is priced at a punitive 1 per cent above base rate, as an operational issue and not related to fears over liquidity.
HBOS bails out own fund as effect of credit crisis spreads
Telegraph
The Times
The Times (Need to know)
The Guardian
The Independent
This is Money
Afterwards, Senator Dodd said he had the impression that Mr Bernanke was unhappy with the market reaction to last week's cut in the Fed's discount lending rate and could either cut further or even slash the Fed funds target rate. "I asked the chairman of the Fed whether he was willing to use all the tools available to him and he said, 'Absolutely'," Senator Dodd said after the meeting.
Trading in London's credit markets was very tight yesterday and the interbank market was described as being in a "state of near-crisis".
"Thirty years in the market and I've seen nothing like it before - it looks like the interbank market has stopped functioning," said one trader. "It's as if the banking system has seized up. The market is simply not lending to each other, and if this goes on it could start to chip away at banks' capital. If you told every bank to liquidate, there wouldn't be a solvent bank."
Paulson fails to quell Dow jitters
Market watchdogs yesterday raised the prospect that some firms hit by the turmoil in financial markets were resorting to fraud in a last-ditch bid to survive.
The Securities and Exchange Commission filed civil fraud charges against Sentinel Management Group, claiming the investment adviser stole clients' money to prop up its own trading accounts. The company, which manages short-term cash for hedge funds, also allegedly used its clients' assets as collateral to leverage its funds without telling them.
SEC accuses Sentinel of using market turmoil to hide fraud
Credit Suisse has become the latest big investment group to abandon its bearish stance on the markets and advise clients to start buying equities again.
Credit Suisse bullish over equities
The credit crisis inched closer to the heart of the British financial system yesterday as HBOS, the banking group, disclosed that it was bailing out a vast in-house fund that has been struggling to finance itself.
HBOS, which owns Halifax and Bank of Scotland, said that it would extend credit to Grampian, a $37 billion (£19 billion) Jersey-registered debt- financed fund, until market conditions improved.
The move came as the Bank of England disclosed that it had provided £314 million of emergency funding to a financial institution that it did not name, but which is understood to be Barclays.
Sources described Barclays’s use of the Bank’s emergency facility, which is priced at a punitive 1 per cent above base rate, as an operational issue and not related to fears over liquidity.
HBOS bails out own fund as effect of credit crisis spreads
Kyoto
- 22 Aug 2007 04:24
- 5 of 56
| NIKKEI | AUSTRALIA | SHANGHAI | HANG SENG |
Kyoto
- 22 Aug 2007 06:03
- 6 of 56
Kyoto
- 22 Aug 2007 06:05
- 7 of 56
Barclays, the UK’s third-largest bank, is among banks to have borrowed under the Bank of England’s emergency facility on Monday, it emerged on Tuesday night. Barclays is thought to have taken out a £312m loan after another large bank missed a scheduled payment. It is not unusual for banks to use the BoE’s facility. However, investors are closely monitoring the facility for signs of distress in the banking sector, which has been hit by a crisis of confidence that has cast doubt on banks’ access to short-term funding.
As Barclays, among others, uses BoE facility
As Barclays, among others, uses BoE facility
Kyoto
- 22 Aug 2007 06:08
- 8 of 56
Kyoto
- 22 Aug 2007 06:13
- 9 of 56
Greystone
- 22 Aug 2007 06:20
- 10 of 56
Good morning traders!
In Asia today, the Hang Seng ended the morning up 290.99 points at 22,020.34,
while the Nikkei was recently ahead 2.3 points at 15,903.64.
Crude oil for October delivery, which became the lead-month contract today, rose
18 cents to $69.75 a barrel, compared with its close at $69.57 a barrel on the New
York Mercantile Exchange Tuesday.
Happy trading!
G.
In Asia today, the Hang Seng ended the morning up 290.99 points at 22,020.34,
while the Nikkei was recently ahead 2.3 points at 15,903.64.
Crude oil for October delivery, which became the lead-month contract today, rose
18 cents to $69.75 a barrel, compared with its close at $69.57 a barrel on the New
York Mercantile Exchange Tuesday.
Happy trading!
G.
Kyoto
- 22 Aug 2007 06:49
- 11 of 56
Kyoto
- 22 Aug 2007 06:59
- 12 of 56
Kyoto
- 22 Aug 2007 07:04
- 13 of 56
Kyoto
- 22 Aug 2007 07:25
- 14 of 56
Kyoto
- 22 Aug 2007 07:30
- 15 of 56
Kyoto
- 22 Aug 2007 07:45
- 16 of 56
Kyoto
- 22 Aug 2007 07:50
- 17 of 56
Kyoto
- 22 Aug 2007 07:55
- 18 of 56
Kyoto
- 22 Aug 2007 08:06
- 19 of 56
Kyoto
- 22 Aug 2007 08:11
- 20 of 56
Kyoto
- 22 Aug 2007 08:21
- 21 of 56
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