Posts from Monday Apr 9 2012

The Closer

ROUND-UP

Friday’s poor payrolls number battered stocks. The S&P 500 closed down 1.14 per cent at 1,382, while the Dow Jones dropped one per cent and the Nasdaq 1.08 per cent (Reuters). Read more

Guest post: Dan McCrum on the history of a Countrywide mortgage

The FT’s US investment correspondent Dan McCrum submits this guest post for FT Alphaville, adding more detail on the Countrywide mortgage that he and Mike Mackenzie tracked in their story last week about the US housing market.

Want a bargain piece of Florida real estate? For $57,000 you get this only slightly rotten house in two acres of rural Middleburg, and the comfort that you are doing Goldman Sachs a solid.* Read more

Principle write-downs in PSI

Yes, the headline’s a pun. A very bad one.

The following aren’t particularly new criticisms of the legacy set by Greece’s debt restructuring (least not on FT Alphaville)… Read more

Facebook acquiring Instagram [updated]

Kara Swisher reports that it’ll be for $1bn in cash and shares. From a note posted to Facebook by Mark Zuckerberg:

 Read more

Avoiding a first-ever corporate default, in China

Shandong Helon! We told you to remember the name.

Either this indebted fibre company would default on a RMB400m ($63m) bond coming due on April 15 – thus becoming the first domestic corporate default in Chinese history, and so maybe a sign of a maturing bond market – or it wouldn’t. Shandong Helon could simply get a local government bailout or a bank loan refinancing instead, under the ‘old’ rules of the game in China. Read more

Further reading

Posting on FT Alphaville will be light to non-existent until New York hours on Monday, because of the holiday in Europe. Normal service including Markets Live will return on Tuesday.

Though to keep you going through the last of the Easter eggs — some further reading! Read more