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mi hear a add on the radio for Bank of America bonds yielding 9.56%...unno a jump in?
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When its hot in the jungle of peace I go swimming in the ocean of love..... -
Re: BOA bonds
you must be listening to a buffalo station -
Re: BOA bonds
All mi know is seh mi glad til mi weak - Dow bruk 8000 tideh!
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Re: BOA bonds
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Andrewnaqi</div><div class="ubbcode-body">you must be listening to a buffalo station </div></div>NYCWhen its hot in the jungle of peace I go swimming in the ocean of love.....Comment
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Re: BOA bonds
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Yuri_</div><div class="ubbcode-body">All mi know is seh mi glad til mi weak - Dow bruk 8000 tideh!
</div></div>Good of you are a day trader. not too significant if you are a long term investor.As long as the fundamentals are where they are.the dow,on a being up is not really that sugnificant.
reason being that it is just as likely to drop precepitously as it climed any say, based on some news story.
As I watch it just fell to 79+.Comment
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Re: BOA bonds
closed up 183
but dioc i woudl think it is significnat to the long term investor since the 3 week trend has been upward. they say there is a rally mentality in play now....and we know the market is not really based on fundamentals but rather on confidence.When its hot in the jungle of peace I go swimming in the ocean of love.....Comment
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Re: BOA bonds
April 2 (Bloomberg) -- Crude oil rose the most in three weeks as leaders of the Group of 20 nations meeting in London agreed on measures to fight the global recession.
Oil surged after the G-20 said it will implement new rules on compensation and bonuses, expand controls on hedge funds and pledge more than $1 trillion in emergency aid to cushion the economic fallout. Energy prices also increased as the euro gained against the dollar, bolstering the appeal of commodities as an alternative investment.
“Prices are up on a renewed sense that the worst may be behind us,” said Peter Beutel, president of Cameron Hanover Inc., an energy consulting company in New Canaan, Connecticut. “As the economy recovers there will be increased demand for commodities.”
Crude oil for May delivery rose $4.25, or 8.8 percent, to settle at $52.64 a barrel at 2:53 p.m. on the New York Mercantile Exchange, the biggest increase since March 12. Prices are up 18 percent this year.
The G-20 nations will channel $850 billion to the International Monetary Fund and World Bank. They also offered cash to revive trade to help governments weather the economic and social turmoil. They sidestepped the question of whether to deliver more stimulus in their own economies.
“The markets like the fact that a lot more money is going to the IMF,” said Phil Flynn, a senior trader at Alaron Trading Corp. in Chicago. “The additional funds should be stimulative.”
Equities Rally
Stocks rallied around the world, driving the MSCI World Index higher for a third day, as some reports suggest the pace of economic decline may be easing. China’s manufacturing expanded for the first time in six months in March. Orders placed with U.S. factories in February rose 1.8 percent.
The Standard & Poor’s 500 Index increased 3.7 percent to 840.95. The Dow Jones Industrial Average rose 3.6 percent to 8,037.98.
“Oil demand will start going up, perhaps later this year,” Ibrahim al-Muhanna, an adviser to Saudi Arabian Oil Minister Ali al-Naimi, said today at an oil conference in Paris. “There is no doubt the economic crisis will be resolved and the economy will rebound.”
The euro rose after the European Central Bank cut its benchmark interest rate by 25 basis points. A drop of 100 basis points was forecast, according to a Bloomberg survey. The common currency climbed 1.5 percent to $1.3451 from $1.3249 yesterday.
Dollar Takes Hit
“The equity and commodity markets have shaken off a lot of dour economic news,” said John Kilduff, senior vice president of energy at MF Global Inc. in New York. “The ECB cut interest rates by less than expected and that’s given the dollar a real shellacking.”
Copper futures for May delivery jumped 4.1 cents, or 2.2 percent, to $1.89 a pound on the Comex division of Nymex, the highest close for a most-active contract since Nov. 4. The Reuters/Jefferies CRB Index of 19 commodities rose 8.48 points, or 3.9 percent, to 226.29.
Prices have rebounded this year as the Organization of Petroleum Exporting Countries cut production. The group reduced daily output targets by 4.2 million barrels since September to prevent a glut and bolster prices.
OPEC cut oil output by 1.2 percent to an average 27.395 million barrels a day last month, according to a Bloomberg News survey. The 11 OPEC members with quotas, all except Iraq, pumped 25.06 million barrels a day, 215,000 more than their target of 24.845 million.
Bottomed Out
Oil prices “have bottomed out now and we hope they will improve, even though fundamentals are really the same,” OPEC Secretary-General Abdalla El-Badri said today before the Paris oil conference.
Goldman Sachs Group Inc. said Brent crude oil prices may reach $50 a barrel this year, up from an earlier estimate of $45, because of OPEC production cuts.
Brent crude oil for May settlement rose $4.31, or 8.9 percent, to end the session at $52.75 a barrel on London’s ICE Futures Europe exchange.
Reports showing rising inventories and falling demand signal that the worst of the recession may not be over. U.S. crude supplies climbed 2.84 million barrels in the week ended March 27 to the highest since July 1993, the Energy Department reported yesterday. Gasoline stockpiles rose by 2.23 million barrels to 216.8 million.
Gasoline Rises
Gasoline futures for May delivery increased 9.81 cents, or 7.2 percent, to settle at $1.4698 a gallon in New York.
The International Energy Agency is likely to lower the oil demand forecast in its next monthly report, IEA Executive Director Nobuo Tanaka said today in an interview with Bloomberg Television.
“There’s nothing bullish in the fundamentals in the near future,” said Raymond Carbone, president of Paramount Options Inc. in New York and a trader at the exchange. “This is all on hope. I’m on the confused side myself right now.”
Crude oil volume in electronic trading on the Nymex was 459,100 contracts as of 3:00 p.m. in New York. Volume totaled 456,053 contracts yesterday, 18 percent lower than the average over the past three months. Open interest was 1.16 million contracts. The exchange has a one-business-day delay in reporting open interest and full volume data.
To contact the reporter on this story: Mark Shenk in New York at [email protected]
Last Updated: April 2, 2009 15:29 EDTComment
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Re: BOA bonds
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: RichD</div><div class="ubbcode-body">closed up 183
but dioc i woudl think it is significnat to the long term investor since the 3 week trend has been upward. they say there is a rally mentality in play now....and we know the market is not really based on fundamentals but rather on confidence.
</div></div> To a long term investor,the only important point of the sow is wher it is when they sell.
Unless they but for dividend and take disbursement on a quarterly basis.
Look at theComment
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Re: BOA bonds
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: RichD</div><div class="ubbcode-body">closed up 183
but dioc i woudl think it is significnat to the long term investor since the 3 week trend has been upward. they say there is a rally mentality in play now....and we know the market is not really based on fundamentals but rather on confidence.
</div></div>Those who make money from the market actually are th eones that can use fondamentals to correcty predict the movements. ther is a lot in foindamentals, one of the important inputs is confidence,but real mivement s areusually based on fondamentals. speculativ emivements niow are based on just about every news story. This is because those who move the market, in cases like these are speculators They make money on upward and downwards mivements. Long term investirs,only make money on upoward moivements.
The trick is that it is much easier to make money on the downward movements of stock, than upward movements. Since most move down.Comment
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Re: BOA bonds
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: RichD</div><div class="ubbcode-body">mi hear a add on the radio for Bank of America bonds yielding 9.56%...unno a jump in? </div></div>
It depends on what their CDS spread looks like and the tenor of the bonds. They just got 45 billion dollars of goverment money so that data point is favourable, also is this fixed or floating rate. The major negative is the CEO is facing pressure to leave, they might cut him too we will see.
I am staying away from Financial services in the short term many better deals in real property if you can hold on for 5 to 10 years.Comment
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