Recent Blog Posts
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The Times' Rorshach Geithner Story
Apr 27 20099:26 am EDT -
Sinking Animal Spirits
Apr 27 20098:45 am EDT -
Counter-cyclical Urban Policy
Apr 26 200910:00 am EDT -
Be Your Own Counterfeiter
Apr 26 20099:36 am EDT -
Being Tim Geithner
Apr 25 200912:37 pm EDT -
Notes From a Press Conference Naif
Apr 25 20099:41 am EDT -
What Good is the News?
Apr 25 20098:32 am EDT -
Stressful Enough
Apr 24 20092:29 pm EDT -
Not Regretting the Pound
Apr 24 20091:09 pm EDT -
Introducing the New Ford Squeeze
Apr 24 20099:47 am EDT
Links
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- Dan Gross
Melting
Your daily TED update: 320bp, and falling. I love Sam's metaphor: not frozen so much as melting. Credit markets, like water, freeze quickly and melt slowly. But if things continue to improve at this clip, Bill Gross's prediction of Libor at 2.65% in a few weeks could well come true; it was fixed today at 4.06%, down from 4.42% on Friday.
In other words, all that government intervention is working. Just give it a little time. And hope that the big trading losses we're seeing at places like Citic Pacific and Caisse d'Epargne aren't mirrored in the hedge-fund world. Because the last thing the world needs right now is a big hedge-fund collapse and liquidation.
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