Friday, December 19, 2008
Memorable Comment
Bond dealers have had some time on their hands, given falling values and lower trading levels. Many have taken to sending around little creative exercises via Bloomberg mail. This is one we got last month that I still use occasionally. Just for perspective, CMBS have underperformed treasuries by 35% through yesterday. And that's after a bit of a dead-cat bounce.
1 Comments:
By 
, at
Sat Dec 20, 08:22:00 PM:
I have a feeling that his is a cool post, but I don't understand a thing you wrote. Maybe you could explain this to us bond morons?
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OK, as a public service I'll revel in my ignorance and continue posting. I Googled.
CMBS = Commercial mortgage-backed securities.
Dead-cat bounce = a pattern wherein a spectacular decline in the price of a stock is immediately followed by a moderate and temporary rise before resuming its downward movement (thanks Wikipedia).
Thanks for prompting me look those things up and learning something new.
Love the ASCII art.
Still would like an explanation for people on streets other than Wall.
