May, 2010
Further reading
Elsewhere on Tuesday,
- Europe’s (graphic) web of debt.
- Some oil slickonomics.
- Renminbising China’s assets.
- The hedge fund vitriol has arrived.
- Meet Goldman salesman Cactus Raazi.
Pink picks
Comment, analysis and other offerings from Tuesday’s FT,
Editorial Comment: The case for change
Britain needs a stable and legitimate government to navigate its fiscal crisis and punch its weight abroad.
Snap news
Breaking pre-market news on Tuesday,
- BP starts to drill relief well in Gulf of Mexico – statement.
- UBS Q1 results beat forecasts; on track to meet medium term goals – statement.
- Essar Energy to commence trading on the London Stock Exchange – statement and earlier statement.
[Abacus] Goldman TV
What PR pill did Lloyd Blankfein pop so soon after escaping Carl Levin’s chamber on Capitol Hill?
Here’s the Goldman chairman/ceo on Charlie Rose. It’s a polished performance – and one in which Blankfein acknowledges he doesn’t know whether his bank would have survived without government support and where he says that the American public’s anger is “understandable and even justified…”
Xstrata Glencore, maybe, someday, possibly
This graph is less than 18 months old.
That’s Glencore’s CDS spread, courtesy of Markit, topping out at around 3125 bps back in early December 2008.
None specialists should be aware that a CDS spread more than 3000 bps wide is tantamount to an entity “going bust already.”
Further reading
Elsewhere on Monday,
- And the Greek restructuring mandate goes to…
- The illustrated German outrage.
- “I don’t want to leave the impression that we think there’s a huge housing bubble.”
FTfm on AV
Some highlights from Monday’s FTfm.
Exit from Caymans to speed up
After all the talk about how they did not want to be over-regulated, the tide of hedge funds moving back to Europe is growing as many fear being locked out of ‘fortress Europe’.