Items Tagged with 'Derivatives'

ARTICLES

  • Dick Bove: Freddie Mac is insolvent

    Points to first loss in 4 years as proof
    Freddie Mac CEO Donald Layton cited a hedging loss of $4.2 billion as reason for the quarterly results, which Richard Bove, vice president of equity research at Rafferty Capital Markets, takes exception to. “This company is insolvent and playing financial games that are not acceptable,” Bove told clients Wednesday.
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  • Fed opens bidding on AIG CDOs

    The Federal Reserve Bank of New York invited eight firms to bid on collateralized debt obligations once held by American International Group [stock AIG][/stock].The CDOs are...
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  • Property contracts coming to CBOE Futures Exchange

    The CBOE Futures Exchange is going to offer property-linked futures contracts, using Radar Logic real estate indexes, the two firms announced Tuesday. Daily house prices across the top 25 metropolitan statistical areas are already available on the Radar Logic Residential Property Index. The CBOE Futures Exchange (a.k.a. CFE) will now list tradable residential property futures contracts based on those RPX values.
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  • Will the housing buck stop at cash buyers?

    Cash may be king in California home sales, but who is the ruling class? An article in The Los Angeles Times on Tuesday mentions that "all-cash buyers grabbed a record 30.9% share of California house and condo sales in January." The source of the information, San Diego-based DataQuick, sent an e-mail Feb. 16 announcing that such a trend was coming.
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  • Markit purchases risk analytics firm

    Financial information data provider Markit, acquired QulC Financial Technologies, a Canadian risk analytics firm. QulC tests market and credit risk tolerance in financial portfolios for clients and can simulate risk at the enterprise level. Markit maintains several leading indices, notably those that track asset-backed securities. Markit, for example, powers a Fannie Mae coupon stack aggregate. QulC’s 105 employees will join the Markit payrolls.
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  • Are Rating Agencies Preparing to Lose the Counterparty Popularity Contest?

    Distressed mortgage borrowers seeking help in correcting their financial situation may get some distance in writing their Congressional representative. In mortgage finance, however, financial firms seeking options and clarity on their portfolio of investments may do better in writing to their credit rating agency, or CRA, first. The highly unique relationship between financial firms and the CRAs that measure the risk of their products seems to be as blurry now as it ever was back then, in spite of a historic financial crisis that shook investor confidence to the core.
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