By Michael Shanahan
June 17 (Bloomberg) -- The cost of protecting European corporate bonds from default rose, according to traders of credit-default swaps.----
Contracts on the Markit iTraxx Crossover Index of 45 companies with mostly high-risk, high-yield credit ratings increased 8 basis points to 738, according to JPMorgan Chase & Co. prices at 7:19 a.m. in London. The index is a benchmark for the cost of protecting bonds against default and a rise indicates deterioration in the perception of credit quality; a decline signals the opposite.
The Markit iTraxx Europe index of 125 companies with investment-grade ratings rose 2 basis points to 118.5, JPMorgan show.
A basis point on a credit-default swap contract protecting 10 million euros ($13.9 million) of debt from default for five years is equivalent to 1,000 euros a year.
Credit-default swaps pay the buyer face value in exchange for the underlying securities or the cash equivalent should a company fail to adhere to its debt agreements.
26 comments:
After the Serin Crime Family™ left Uzbekistan, I heard the country's credit rating went from CCC to AA. :-p
Californian's are the New Mexicans
Hello everyone -- bottom line, I'm happy to have Casey back online.
cheers,
Con
Seems like half of California moved here recently. The guy at Home Depot checking me out last night was nice enough, then he asked if it was always like this. Yes, I told him. It is ALWAYS HOT AND SHITTY IN TEXAS IN THE SUMMER.
Lou,
Remind me why you live there again?
Yeah really. After 3 years in Nassau Bay (Houston) even if LA approaches the vision presented in Terminator Salvation I wouldn't even half consider moving 'back east'
What that dude said about living in hell and renting out tejas.
Yeah, but away from the coast it is nowhere near as humid.
I can deal with the heat.
So what happens July 1 when the new fiscal year starts?
Or July 30 when Kalifornia says it will be out of operating cash?
You can say what you want about the Land of Fruits and Nuts, but the biggest freak show that I ever watch every year are the people who come here from back east. You should see what these crazy people do the minute they get out of range from church and family.
Our old buddy Greg Swann and his bearish views on Phoenix housing.
http://tinyurl.com/n8o9yp
Remind me why you live there again?
1.) Family.
2.) Jobs.
3.) Low cost of living.
4.) Plenty to do.
5.) October-March.
6.) Thanks to #2 and #3 I can hop on a plane and visit the places that I could never afford to live in.
7.) Tex-Mex, not that horrible Cali-Mex shit that Casey photographs.
Speaking of, Casey 4.0 has come to an abrupt end.
Wow, that was quick.
I thought it might have been related to the ongoing Google outage, but his Flickr photostream is gone as well.
Maybe Casey is finally figuring out that he doesn't have a story to sell/tell.
I can only imagine the posts that never made it past moderation. It's sad in a way. Casey has a choice between a life or the internet and he can't decide. IMO at this point jail time will only make him a more dangerous menace to society. I'll settle for a warning tattoo on his forehead.
I figure the Hater/Support comment ratio was 100/1 at the end. He was probably tired of deleting all the comments that didn't fit his warped, narcissistic world view.
The blog was mighty boring with just Casey commenting about himself.
I don't see him as a becoming more dangerous in jail. Anyone who could teach him new scams will just scam him instead. He's never picked up on the fact that he has been scammed in the past, so I don't think he use anything that is used on him.
The government wants this point of history to go away.
they have GM and Chryco doing hot summer sales again.
They got the relitters to talk happy times on the radio.
They have lubed the banks with our money.
they have hauled in Madhoff and Stamford just like the procution of Enron was the end of the dot com crash.
Now they need some high profile investment flippers to go down to prove they are on the case (hey stop laughing).
Casey may be the most popular flipper to go after. He may be trying to lay low like his lawyer told him to do long ago. A day late and a dollar short, but that is our boy..
With implosion in California, is anyone updating all those refernences about it being the 9th largest econony in world size wise?
Must be down near Haiti ..
h.
I'm very disappointed in Casey. He couldn't possibly have imagined that he was going to get only positive comments, especially if he was going to show us how he's having fun while we are working. He even risked and lost his job for the blog. Then, why take it down so soon? I can't understand the logic.
I don't see him as becoming more dangerous in jail.
Me neither... if he were sent to jail, I'd expect him to leave the place in a coffin.
Pretty much the only way he'll stop scamming friends and family.
Monica,
Casey and logic are strangers. He believed that is was possible to create a business based on people watching his home videos and family pictures. Even your own family gets bored with that stuff after a short time.
Since we're never going to get closure(which is pretty much Casey going to prison) it would be nice to have answers to some of the questions.
I think the biggest question on everyone's mind is where the money is/was coming from. He bought(?) two vans, While they weren't new or fancy, they must have cost him a chunk of change.
I really care about Casey, yet I did not even take the time to watch his videos for free. Who would actually pay? But if there was some plan to somehow use the blog to make money, it doesn't make sense to give up so soon. He had barely started, if that.
And why is he focusing on some minor details such as a picture or a biography, yet the overall project remains incomplete? He did that a few times. And why the surprise disappearence? This doesn't make any sense!
Monica,
Casey and logic are strangers. He believed that is was possible to create a business based on people watching his home videos and family pictures. Even your own family gets bored with that stuff after a short time.
Since we're never going to get closure(which is pretty much Casey going to prison) it would be nice to have answers to some of the questions.
Monica -
To take a business plan from a South Park episode:
1) Steal underpants
2) ?
3) Profit
That seems to be Casey's business plan in a nutshell... he doesn't have one.
His "plan" is to have another blog as popular as IAFF. What he doesn't have is a plan on HOW to do that - the first one was an accident that he can't reproduce.
I'm not at all surprised that he focused on the irrelevant stuff and didn't get around to the meat of the blog - that's what he does. This is why Casey fails each time and why he will always fail - he has no discipline, no work ethic, no business sense and no focus.
The only "success" Casey has had was the sale of IAFF. The value was an accident and the sale a lightning bolt of luck that proved worthless to Aaron the buyer.
That's a pattern in Casey's life: success once = fixation. If he were to hit a slot machine jackpot of $10,000 you'd see him blogging about making it in Vegas as he sells his shoes for one more play.
Correction, he'd sell his socks.
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