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Entries tagged "markets"Andrew Lo tries to get regulators to adaptComparing MIT professor Andrew Lo's theories on markets with the anecdotes of Malcolm Gladwell. Video: Louis Capital's van Batenburg on Pfizer-Wyeth obstaclesIn this edition of Inside the Deal, Robbert van Batenburg, head of equity research for Louis Capital Markets, tells Suzanne Stevens that the stakes for both companies are high. Curing the common cold, and financial bubblesThe New York Times all but declares the common cold cured, and the Financial Times offers up a scheme to eliminate bubbles altogether. Recession fears drag down markets, Deal StocksAs fears of a recession continue, stock prices continue to recede, and nothing, not even positive deal news, seems to be curbing selloffs. The Dow Jones Industrial Average on Friday ended a miserable week on a miserable note, losing 312.20 points to close at 8,378.95, its lowest finish in over five years. ... Global markets tankWorld markets tumbled Friday on growing concern that no amount of government intervention will be able to stave off a global recession. In Europe, Germany's DAX index fell 10.76% while the French CAC40 fell 10%, and the FTSE 100 in the U.K. fell 8.67%. In Asia Japan's Nikkei 225 index slid 9.6%. Wall Street followed on the same course, with Dow Jones Industrial Average futures down the maximum 550 points in premarket trading and other U.S. indexes reacting in a similar fashion.... Bank Watch: Wachovia sends everyone into the redWith the Chicago Board Options Exchange Volatility Index soaring, and the Dow dropping almost 514.45 points or 5.69% to close at 8519.21, it should surprise no one that every firm on Dealscape's Bank Watch list was in the red at market close. The financial sector massacre was likely prompted by Wachovia Corp.'s earnings announcement. The troubled Charlotte, N.C.-based bank, which is slated to become part of Wells Fargo & Co., reported a $23 billion loss, the largest loss ever reported by a U.S. bank. - Matthew Wurtzel ... Bank Watch: Everyone in the redWith the Chicago Board Options Exchange Volatility Index soaring, and the Dow dropping almost 400 points in early afternoon trading Wednesday, it should surprise no one that practically every firm on Dealscape's Bank Watch list is in the red. It also doesn't help that Wachovia Corp. reported a $23 billion loss before the markets opened. - Matthew Wurtzel ... The Times tries the bipolar approach to the crisisFolks, let's make up our minds. The New York Times was so excited about Monday's 413 rise in the Dow that it declared a "re-emergence of trust" in the credit markets on the front page Tuesday. Alas, two section within, Times M&A maven Andrew Ross Sorkin was gloomily shaking his head at how slow the credit markets were to respond to a massive infusion of equity stakes, bailout funds and oceanic central bank liquidity. The headline on Sorkin's column: "One Day Does Not Constitute a Trend." ... Bank Watch: Mixed results on down morningWith the Dow down 203.26 or -2.19% to 9,062.17 at noon, banks were mixed with the largest banks feeling most of the pain. Interestingly, however, smaller regional banks are faring somewhat better in Tuesday morning trading, despite National City Corp., Fifth Third Bancorp and KeyCorp, Ohio's largest banks, all reporting third-quarter losses. See the chart after the break. - Matthew Wurtzel ... Crisis Dashboard: LIBOR, VIX, TED Spread, DowLIBOR 1-Month 3.7515 Change: -0.43 basis pointsLIBOR 3-Month 4.0588 Change: -0.36 basis points The LIBOR rate continues to fall, but remains at elevated levels, showing that banks are starting to lend to each other but are still cautious. VIX: 58.33 Change: -12.00 (-17%)The Chicago Board Options Exchange Volatility Index is falling like a stone as investors see more stability ahead, with the Dow up over 200 points today and the Administration reversing course on a second stimulus package. The VIX hit an all-time high at 80 last week.TED Spread: 2.9507 Change: -0.6859Although investors remain uneasy, the gradual loosening of credit markets... Roll Call: How banks hedge counterparty riskFelix Salmon of Portfolio's Market Movers blog has a really good post explaining how banks hedge counterparty risk. This is key in understanding the unraveling of Lehman Brothers Holdings Inc.'s CDSs, which is happening Friday. - Maria Woehr... Investors sell, ECB offers salvoAs expected, Wall Street's meltdown is hammering markets around the world. Top tagsYou have executed a tag search on Dealscape. On the left,you will find a comprehensive list of stories tagged "markets." Below are the most-popular tags for Dealscape. On the right of the page you will find a search box to dig deeper into our content.
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