Wednesday 3 December 2008

Who next for the Bond market crunch machine?

It might seem an odd title, but things are afoot in the market even as we approach the year end of a truly annus horribilis.

There may be rays of light for the Government in seeing its investment in RBS creep over the rights issue price, but there is gloom elsewhere.

So much gloom in fact that the measure of Bond risk on corporates in Europe has soared to its highest ever level. This sounds obscure to many I am sure (as the does name - itraxx crossover index), but rest assured these were the kind of levels seen in the US prior to Lehman going down in September.

No one can really say how much hedge fund redemption's and other weird market effects are having. But from the stress indicators it seems likely another large company or organisation in Europe is going to suffer from a run on the company and go down in the next few days.

Perhaps it will all pass and the stress will leave the system, however that is not the pattern we have seen throughout the year so far. I think it likely that this is the beginning of the stage when we will see the damage spread further beyond Financials, Housebuilders and retail, perhaps into manufacturing.


Anonymous said...

What's that phrase?
Oh yes, I remember..

"You ain't seen nuthin yet"

Anonymous said...

A main national wholesaler has gone into administration. Didn't make the news but its still 300 jobs lost and they are the major supplier of goods in their field.

Anonymous said...

Re Anon 1.05: Who and where? No need to be so cryptic here; we are all grown up and have broad shoulders.

Anonymous said...

JP Magson. Wholesale stationers

AntiCitizenOne said...

Is INFINEON the one going pop?

Pity if so.

CityUnslicker said...

Anon, Sid - thanks for that.

Quite big player in their space. there are many more to come at that level unfortunately.

Anonymous said...

aaaa片, 免費聊天, 咆哮小老鼠影片分享區, 金瓶梅影片, av女優王國, 78論壇, 女同聊天室, 熟女貼圖, 1069壞朋友論壇gay, 淫蕩少女總部, 日本情色派, 平水相逢, 黑澀會美眉無名, 網路小說免費看, 999東洋成人, 免費視訊聊天, 情色電影分享區, 9k躺伯虎聊天室, 傑克論壇, 日本女星杉本彩寫真, 自拍電影免費下載, a片論壇, 情色短片試看, 素人自拍寫真, 免費成人影音, 彩虹自拍, 小魔女貼影片, 自拍裸體寫真, 禿頭俱樂部, 環球av影音城, 學生色情聊天室, 視訊美女, 辣妹情色圖, 性感卡通美女圖片, 影音, 情色照片 做愛, hilive tv , 忘年之交聊天室, 制服美女, 性感辣妹, ut 女同聊天室, 淫蕩自拍, 處女貼圖貼片區, 聊天ukiss tw, 亞亞成人館, 777成人, 秋瓷炫裸體寫真, 淫蕩天使貼圖, 十八禁成人影音, 禁地論壇, 洪爺淫蕩自拍, 秘書自拍圖片,

做愛的漫畫圖片, 情色電影分享區, 做愛ㄉ影片, 丁字褲美女寫真, 色美眉, 自拍俱樂部首頁, 日本偷自拍圖片, 色情做愛影片, 情色貼圖區, 八國聯軍情色網, 免費線上a片, 淫蕩女孩自拍, 美國a片, 都都成人站, 色情自拍, 本土自拍照片, 熊貓貼圖區, 色情影片, 5278影片網, 脫星寫真圖片, 粉喵聊天室, 金瓶梅18, sex888影片分享區, 1007視訊, 雙贏論壇, 爆爆爽a片免費看, 天堂私服論壇, 情色電影下載, 成人短片, 麗的線上情色小遊戲, 情色動畫免費下載, 日本女優, 小說論壇, 777成人區, showlive影音聊天網, 聊天室尋夢園, 義大利女星寫真集, 韓國a片, 熟女人妻援交, 0204成人, 性感內衣模特兒, 影片, 情色卡通, 85cc免費影城85cc, 本土自拍照片, 成人漫畫區, 18禁, 情人節阿性,