Overallotment: May 12

US AAA credit rating at risk, former GAO director claims (Reuters) GM sinks to fresh low as Chapter 11 looms (FT) Social Security, Medicare will be depleted much earlier than expected (Bloomberg) Airbus orders nosedive, profit tumbles (Daily Telegraph) What foreclosures? After brand spanking new megaloss, Freddie Mac net worth is below $0 (FT) FDIC [...]

Hedge Fund LP Secondary Market Interest Update

Secondary market hedge fund interests continue to be actively traded, and as LP broker Hedge Bay indicates, the discounts for offers have hit unprecedented levels. The most recent level of Hedge Bay’s Secondary Market Index Value hit an all time low of 80.31 for the month of March. In terms of specific bids and asks, [...]

Loans Versus Bonds Relative Value: Week Of May 7

Heat seeking in both bonds and loans was the dominant theme, with the usual suspects continuing to rip. Comparing current levels on garbage credits like Neiman Marcus, Sealy and TRW with their spreads 3 months ago and one can only question the sanity of even the credit market. Unlike last week when there were just [...]

Will The Real Chryslergate Fallout Please Stand Up

Now that the issue of those pesky first lien hold outs has been dealt with once and for all, the Chrysler saga audience can turn their attention to the more relevant question of how the bankruptcy will actually affect not only upstream suppliers’ production and their employment levels, but the overall domestic and global economy. [...]

Green Shoots Or Rose-Colored Glasses

Just like yet another posthumous multi-platinum Tupac record, David Rosenberg resurfaces on Zero Hedge… Although, unlike Tupac, this is almost guaranteed the last incarnation of Rosie while a Merrill employee, doing what he does best – talking about employment trends and the consumer. This is a boom compared to the post-Lehman collapse Only the most [...]

Dresser-Rand Climbs on Low Volume (Zacks.com via Yahoo! Finance)

Dresser-Rand Climbs on Low Volume Read more….

Rand flat in 2Q (BizJournals)

Buffalo business development company Rand Capital Corp. said its net asset value in the first quarter fell by 1-cent from the previous quarter to $3.53 per share. Read more….

Rand Capital Corp. is looking for deals (The Buffalo News)

Rand Capital Corp. isn’t feeling the credit squeeze. Read more….

Rand Gains, Firming Rank as Best of Emerging Markets in 2009 (Bloomberg)

April 30 (Bloomberg) — South Africa’s rand posted its steepest monthly gain since September 1986 as investors bet rate cuts may help the continent’s largest economy avoid the worst of the global recession. Read more….

South Africa Trade Deficit Narrows to 512 Million Rand (Bloomberg)

April 30 (Bloomberg) — South Africa’s trade gap unexpectedly narrowed to 512 million rand ($60.5 million) in March as mineral exports increased. The deficit eased from 571 million rand in February, the South African Revenue Service said in an e-mail today. Read more….

Rand Gains, Firming Rank as Best of Emerging Markets in 2009 (Bloomberg)

April 30 (Bloomberg) — South Africa’s rand gained, firming its rank as this year’s best-performing emerging-market currency, as the central bank cut its benchmark interest rate to the lowest in more than two years to revive the economy. Read more….

Dollar plummets to new multi-month low versus South African rand (INO News)

(RTTNews) – The US currency extended European session’s downtrend against the South African rand during New York deals on Wednesday. Read more….

(AFX UK Focus) 2009-04-29 17:42 SAfrica’s rand races to near 7-mnth high, stocks rise (Interactive Investor)

JOHANNESBURG, April 29 (Reuters) – South Africa’s rand firmed sharply on Wednesday and local stocks climbed after strong earnings reports in Europe lifted global stocks and boosted the appetite for risky assets. The JSE Top-40 index of blue chip stocks rose 1.04 percent to 18,367.50 points, while the broader All-share index gained 0.99 percent 20,481.77 [...]

Rand races to near 7-month high, stocks rise (Independent Online)

South Africa’s rand firmed sharply and local stocks climbed after strong earnings reports in Europe lifted global stocks and boosted the appetite for risky assets. Read more….

South African rand edges higher against US dollar (INO News)

(RTTNews) – The South African rand edged higher against the US dollar during early deals on Wednesday. At 3:45 am ET, the rand reached a high of 8.5935 versus the dollar, compared to 8.5800 hit late New York Tuesday. The next upside target level for the South African currency is seen around 8.2. Read more….

Rand continues to rocket (News 24 South Africa)

The rand has shrugged off disappointing inflation numbers and continued its powerful rally against major currencies. Read more….

South African Rand Gains Against Dollar on Rate-Cut Speculation (Bloomberg)

April 28 (Bloomberg) — South Africa’s rand rose to its highest level against the dollar since Oct. 3 on speculation the central bank will cut interest rates again this week to help spur consumer spending and boost economic growth. Read more….

South African Rand Reverses Recent Losses Against Dollar (INO News)

(RTTNews) – The South African rand that fell to 8.9119 against the dollar at 3:10 am ET Tuesday strengthened thereafter. Read more….

South African Rand Falls as Swine Flu May Deepen Recession (Bloomberg)

April 28 (Bloomberg) — South Africa’s rand weakened for a second day on concern the spread of swine flu from Mexico may deepen a global recession, reducing demand for metals. Read more….

CEO of Ingersoll-Rand gets 2008 pay package of $8.2 million, says AP tally; bonus lowered (WHO-TV 13 Des Moines)

HARTFORD, Conn. (AP) — Ingersoll-Rand Co. Chairman and Chief Executive Herbert L. Henkel received 2008 compensation valued at $11.4 million, up about 7 percent year-over-year, according to Associated Press calculations of data filed with regulators Wednesday. Read more….

Next Page »