And we’re back!
Posted by Jordan Crouch on November 26, 2007
Even with the Thanksgiving Holiday last week, there is a lot happening in the market. Here’s a recap of a few headlines.
- Retail sales for Black Friday and Saturday were 7.2% higher than last year. The rest of the year might not be too bad.
- HSBC, Europe’s largest bank, is bailing out two of its troubled funds, which invested in mortgage backed securities.
- Citigroup is planning major layoffs after taking a $15 Billion write off. No Christmas for those employees. L
- Spreads continue to widen but with the ten year treasury at a two year low, interest rates for commercial loans are still in the 6 percent range.
And finally, here is an interesting article about a hedge fund that made a 1000% return this year betting on the sub-prime market tanking. The interesting part is that the fund’s manager, Andrew Lahde, is now betting against the CMBS market. hmm….
