Thursday, May 21, 2009

I.O.U.S.A Video, UK, U.S AAA Rating At Risk

Hate to be spewing US debt Armageddon stuff but after today's action in Treasuries and the USD maybe people should know what's going on w/ our Federal debt. Pimco's Gross: Sell-off (US Dollar, Stocks, Bonds) driven by fears US could lose AAA (Reuters, Bloomberg Phone Interview).

In other news:

Rosenberg Says U.S. Stock Market May Test March 9 Low (Birinyi is bullish) (Bloomberg)

UK risks losing AAA rating (S&P but Fitch/Moody's Disagree) (Reuters)

Goldman Expects Large Drop In Rents; REITs Impacted (Zero Hedge)

N.Y. Fed says bought $7.398 bln Treasuries Thurs (Reuters)

Kokusai Cuts Treasuries as Fukoku Sees End to Rally (Bloomberg)

Commercial Mortgage Bonds Rally on Fed’s Legacy Assets Plan (Bloomberg)

U.S. Economy: Leading Indicators Index Gains as Recession Eases (Bloomberg)

Here Comes the Option ARM Mortgage Explosion (Business Insider)

US's Geithner- obligation to sustain strong dollar (Reuters)

Cheaper to finance a house than U.S debt (Zero Hedge)

Geithner Says TARP Can’t Help U.S. States Solve Budget Crises (Bloomberg)

Birinyi Says S&P 500 May Surge 88% in Three Years (Bloomberg)

U.S. Dollar to Fall Further on Stimulus Spending, Says Windheim (Bloomberg)

Fed Unconvinced Economy’s ‘Stabilization’ to Persist (Bloomberg)

U.S. 2-Year Range Break Could Steepen Curve: Technical Analysis (Bloomberg)

Watch for a break out in the yield curve (2s - 10s -

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