The "up-to-the-minute Market Data" thread

reply to post by Hx3_1963


Agreed, It has to come down at some point. Every empire has always died and been dissolved.

I guess tomorrow is shaping up to be a rockin' day. Everybody cashing in on the transfer of hidden assets to become somebody elses hidden assets.

reply to post by Hastobemoretolife
Either that or the classic...

Buy on the Rumor...Sell on the News...

It's been going that way for awhile...except the friday before last...I called that one wrong...
(My Bad)

If this goes over well and is bought into ya just know we're gonna get scroomed...




[edit on 3/22/2009 by Hx3_1963]

reply to post by Hx3_1963


That is alright, you can't be right all the time. You also have to admit that rally came out of the blue.

People betting on the market opening in the green take it a little higher, then as soon as Timmy the tax Cheat details his plan in front of congress short the market and make a nice penny.

If I only has some expendable cash.

But for your consolation prize have a "chocolate" calculator.

[edit on 22-3-2009 by Hastobemoretolife]

[edit on 22-3-2009 by Hastobemoretolife]

reply to post by Hastobemoretolife
Star 4 Choc-o-Calc!

Japan's MUFG says to close branches, cut jobs
www.reuters.com...

TOKYO (Reuters) - Mitsubishi UFJ Financial Group (8306.T), Japan's biggest bank, said on Monday it plans to close 50 branches and cut 1,000 jobs to continue slimming down its operations since its merger in 2005, as a tumbling stock market depletes its earnings.

MUFG, along with other Japanese banks, has escaped much of the subprime damage that hammered its Western rivals, but it has since been hit by a recession and a sharp fall in domestic stocks.

The bank booked its first quarterly net loss and slashed its full-year forecast in February, and said this month it would raise nearly $1 billion in its latest step to shore up its capital base.

MUFG spokesman Takashi Miya said the bank, created through the merger of Mitsubishi Tokyo Financial Group and UFJ Group, would press forward with restructuring in the next three years to reduce operations that were duplicated by the merger.

It plans to shut about 50 more branches, close 200 ATMs, cut 1,000 jobs through attrition and relocate 1,000 employees, he said. The bank has already closed some 70 branches and 200-300 ATMs since the merger.

MUFG's core banking unit currently has about 600 branches, and MUFG had a groupwide workforce of about 78,300 at the end of the last business year.

The job reductions will take place at the bank's head office, which has about 6,000 workers, Miya said.

"The bank just finished its system integration in December, so it is understandable that it still has some more overhaul to do (after the merger)," Credit Suisse analyst Shinichi Ina said.

"Since the economic environment is different now from when it merged, I'm sure it is making an adjustment (in its restructuring progress) accordingly ... but this does not seem like anything out of the ordinary."

Shares of MUFG gained 2.9 percent to 503 yen as of 0057 GMT, against a 2.4 percent rise in Tokyo's subindex of bank stocks.

Hhhmmm...

How is shutting down a fair portion of yer business a good thing, as in shares rising???

Oh...that's right...the new down is up!!!

===
S&P 500 +12.80 776.90 3/22 11:36pm
Fair Value 764.67 3/21 8:18pm
Difference* +12.23

NASDAQ +12.75 1200.75 3/22 10:27pm
Fair Value 1186.77 3/21 8:18pm
Difference* +13.98

Dow Jones +112.00 7327.00 3/22 11:30pm
===

Geithner says need private-sector help: report
www.reuters.com...

WASHINGTON (Reuters) - U.S. Treasury Secretary Timothy Geithner said on Sunday that help from the private sector was critical to get toxic assets off banks' balance sheets and help resolve a credit crisis.

"Our judgment is that the best way to get through this is if we can work with the markets," Geithner said in an interview with the Wall Street Journal. "We don't want the government to assume all the risk. We want the private sector to work with us."

Geithner is set to reveal details on Monday of a plan to set up public-private investment funds that could buy up to $1 trillion in troubled loans and securities at the heart of the financial crisis.

The Journal said Treasury believes participants in the program shouldn't be subject to executive-pay rules imposed by Congress. The law authorizing a $700-billion bailout and a provision in a $787-billion stimulus package impose tough pay restrictions on firms that receive government funds, including limits on bonuses.

Say What Willis?!?


Asian Markets rising even higher...China Likey!!! Fer now...

[edit on 3/22/2009 by Hx3_1963]

reply to post by Hx3_1963

The Journal said Treasury believes participants in the program shouldn't be subject to executive-pay rules imposed by Congress. The law authorizing a $700-billion bailout and a provision in a $787-billion stimulus package impose tough pay restrictions on firms that receive government funds, including limits on bonuses.

What?

After this AIG bonus fiasco I thought there wasn't any legislation that limited bonus pay?

You know it is pretty clear that the people running the show haven't ever worked a real job in their entire lives.

Also when did "executive pay rules" get legislated? Talk about having the wool pulled over our eyes.

Man the DJI Futures are triple digits now. They are buying heavily on the rumor.

reply to post by Hastobemoretolife
Hell...I'm not sure of anything anymore concerning day to day changing bonus rules...guess it just depends what color Skittle come out da Unicorns butt first...


===
S&P 500 +14.00 778.10 3/22 11:52pm
Fair Value 764.67 3/21 8:18pm
Difference* +13.43

NASDAQ +19.00 1207.00 3/22 11:42pm
Fair Value 1186.77 3/21 8:18pm
Difference* +20.23

Dow Jones +110.00 7325.00 3/22 11:37pm
===
New Zealand 2597.30 -1.73 -0.07% 16:44
Australia 3471.80 66.80 1.96% 15:05
Nikkei 225 8192.46 246.50 3.10% 12:44
TOPIX 788.05 23.28 3.04% 12:39
TSE 2nd Sec 1810.66 14.82 0.82% 12:39
JASDAQ 40.19 0.76 1.93% 12:39
Korea 1200.13 29.19 2.49% 12:45
Taiwan 5099.48 137.86 2.78% 12:05
Taiwan OTC 75.46 1.37 1.85% 11:45
Shanghai 2309.40 28.31 1.24% 11:30
Shanghai A 2424.07 29.67 1.24% 11:30
Shanghai B 151.65 2.52 1.69% 11:29
Shenzhen A 806.15 14.16 1.79% 11:30
Shenzhen B 342.29 6.92 2.06% 11:30
SHSZ 300 2421.16 41.32 1.74% 11:30
Shenzhen comp 8835.90 188.39 2.18% 11:30
Hong Kong 13214.31 380.80 2.97% 11:50
HK CN Ent 7816.69 320.73 4.28% 11:44
HK Aff Crp 3063.02 130.60 4.45% 11:50
Singapore 1631.97 35.05 2.19% 11:50
SGX China 49.91 1.55 3.21% 12:05
Vietnam 260.16 -6.46 -2.42% 11:01
Thailand 434.44 4.80 1.12% 10:39
Philippines 1879.09 45.19 2.46% 12:05
Malaysia 866.49 9.67 1.13% 12:05
Indonesia 1394.83 33.94 2.49% 11:05

reply to post by Hx3_1963


This is crazy, just about everything is in the green. They must really like the rumor.

You got it, I think we need to converse with Red, and see if that unicorn of hers has any predictive power.


[edit on 23-3-2009 by Hastobemoretolife]

reply to post by Hastobemoretolife
Red must be readin' her "Atlas Shrugged" tonite...

Look like just you and me tonite for now...must be everyone else is restin' up after a rough week-end or for a rough up coming week...
===
Hang Seng 13,235.94 12:29AM ET 402.43 (3.14%)
===
S&P 500 +12.30 776.40 3/23 0:22am
Fair Value 764.67 3/21 8:18pm
Difference* +11.73

NASDAQ +18.50 1206.50 3/23 0:19am
Fair Value 1186.77 3/21 8:18pm
Difference* +19.73

Dow Jones +105.00 7320.00 3/23 0:26am

GM Bondholders Say Plan Risks Bankruptcy’s ‘Dire Consequences’
www.bloomberg.com...

March 23 (Bloomberg) -- Bondholder representatives said General Motors Corp.’s formula to swap debt for equity is likely to lead to “a bankruptcy that would have dire consequences,” and the advisers urged agreement on an alternative.

“We believe that, unless the framework we suggested is utilized, the restructuring currently contemplated will not achieve the required level of acceptance to succeed on an out- of-court basis,” the advisers wrote in a letter yesterday to Treasury Secretary Timothy Geithner and representatives of President Barack Obama’s auto task force.

The advisers said they are “disappointed” proposals they offered March 5, which the letter doesn’t describe, received no response from the task force or GM. The automaker is trying to persuade bondholders to swap debt valued at $27.5 billion for $9.2 billion and equity in the automaker.

Bondholder advisers are balking at those conditions, which GM and the federal government agreed to in December when the Treasury gave the largest U.S. automaker $13.4 billion in loans to prevent a bankruptcy. GM is under pressure to show progress in meeting the terms by March 31, or Obama’s auto task force may recommend that the automaker be tipped into bankruptcy.

“We aren’t commenting on the letter or specifics of the negotiations except to say that GM remains in discussions with advisers to the ad hoc bondholder committee in efforts to reach an agreement on the bond exchange,” Renee Rashid-Merem, a GM spokeswoman, said yesterday.

‘Number of Benchmarks’

Bondholder representatives met with Obama’s task force March 5 to discuss steps the government can take, including a federal guarantee of new debt, a person familiar with the matter said that day. The representatives haven’t released details of the so-called framework presented to the task force.

“The existing loan agreement with General Motors includes a number of benchmarks -- including with respect to unsecured debt -- that were to be achieved by March 31,” Treasury spokesman Isaac Baker said in an e-mailed statement yesterday. “We expect all stakeholders to continue their efforts. As we approach March 31, the Auto Task Force will evaluate the progress made in achieving these objectives and will put forward a concrete plan for next steps.”

The Treasury’s chief auto adviser, Steven Rattner, said in an interview March 20 that GM bondholders “are looking to the government to help them solve their problem.”

More at Link...

This really sounds dire...only a week till the deadline...


[edit on 3/22/2009 by Hx3_1963]

reply to post by Hx3_1963


Must be wanting to get refreshed on who exactly John Galt is. Nothing wrong with that.

Everybody is probably getting ready for the week ahead, or getting belated St. Patty's day parting in.

Man GM has it ruff. It is kind of hard to sell new cars in this tough economy though. The place where I used to work were having a hard time getting people approved for new cars, even though they have good credit.

If things keep going they way they are going we might be wise to buy some of these. Especially if they try to charge us tax per mile. Be good in a black market.

JPMorgan, Deutsche Bank Said to Press KKR’s Capmark on Loans
www.bloomberg.com...

March 23 (Bloomberg) -- JPMorgan Chase & Co. and Deutsche Bank AG, which hold $1.2 billion of Capmark Financial Group Inc. loans, are among banks demanding collateral in exchange for loosening terms that put it at risk of default, people familiar with the matter said.

Capmark, the former GMAC LLC unit owned by KKR & Co. and Goldman Sachs Group Inc., is being pressed by lenders to pledge $1.5 billion of commercial mortgage assets against at least $5.5 billion of bank loans, said the people, who declined to be identified because the talks are private. The loans are unsecured and trade for less than 40 cents on the dollar, according to London-based Markit Group Ltd.

JPMorgan and Deutsche Bank each hold more $600 million of loans to the commercial mortgage lender, according to a list of lender commitments obtained by Bloomberg News. Royal Bank of Scotland Plc and Citigroup Inc. each hold more than $500 million, according to the document, and Credit Suisse AG has more than $400 million.

“The banks have a lot of exposure,” said Christopher Wolfe, an analyst with Fitch Ratings, who said Capmark is likely to violate a loan covenant and be in default without a bank waiver or amendment. “They want more security, and Capmark needs covenant relief.”

Private-equity firms, which bought a record $1.2 trillion of companies before the global economy slumped into recession last year, are exploring strategies to salvage investments. Capmark is struggling with debt after originating most of its loans in 2006 and 2007, close to the peak of the U.S. real estate boom. Fitch and Moody’s Investors Service cited the company’s covenants in downgrading its debt last month.

Sounds like more Banker Manifesto stuff...calling in more debts...

Make no mistake
We lurkers are here
waiting with baited breath
anything an everything
you have to share
in order to
orient the compass or
sight in the sextant
in these overcast conditions.
I have a feeling I'd rather be
asleep for tomorrow's ridiculousness anyway,
but I know
I wont be...

[edit on 23-3-2009 by Elostone]

reply to post by Elostone
Star 4 U!

Just for being awake this time of nite!

...And as a reward...I offer...more bad news...

U.S. Central Credit Union may form "bad bank": CEO
www.reuters.com...

KANSAS CITY (Reuters) - Two days after regulators seized the largest U.S. corporate credit union, the newly installed CEO said he is considering a variety of options, including setting up a "bad bank," to handle a mixture of troubled mortgage assets.

Several options are on the table at the $34 billion-asset U.S. Central Federal Credit Union, said new CEO James Nance, who quit as chief administrative officer at Icap Capital Markets Llc in New Jersey to helm the Lenexa, Kansas-based institution at the request of regulators.

In addition to setting up a separate entity, a so-called "bad bank," to take toxic assets off the books of U.S. Central, Nance told Reuters in an interview that he will look at options for securitizing the troubled assets in ways that would allow for them to be held for an extended periods, and he will explore the sale of certain assets to non-credit union buyers.

"We want to try to avoid having the situation deteriorate," said Nance, who prior to his work at Icap, oversaw asset and liability management at U.S. Central from 1993-1996.

U.S. Central is the largest of two U.S. corporate credit unions taken over on Friday. The National Credit Union Administration (NCUA) also took control of Western Corporate (WesCorp) Federal Credit Union of San Dimas, California, which has about $23 billion in assets. NCUA said the two had expected credit losses greater than total capital.

The institutions provide liquidity and settlement services tapped by more than 90 percent of the nation's nearly 8,000 credit unions, which are member-owned.

Regulators said that U.S. Central's problems stemmed in part from its investments in "private label" mortgage-backed securities and collateralized mortgage obligations. The instruments earn higher yields but do not have implicit government guarantees.

Although U.S. Central officials said the bulk of the securities continue to pay off as expected, and more than 70 percent held highly favorable AA or AAA ratings as recently as 2007, accounting rules forced them to write down the value of those securities dramatically as home values plummeted around the nation.

NCUA officials would not disclose a specific loss figure for U.S. Central. But in January the NCUA injected $1 billion into the institution.

Nance said some of the problem assets were viewed as having temporary losses, while another batch were seen as beyond recovery.

"Some of the losses on those are not going to come back even if the market does," he said.

More at Link...

Great...another Bad Bank plan...these never seem to materialize and just turn into festering gobs of toxic Whoha...

Yep...about time to make a drawdown of my own...


But wait...there's more...

General Growth remained in talks with bondholders - WSJ
www.reuters.com...

NEW YORK, March 22 (Reuters) - General Growth Properties Inc GGP.N remained in talks on Sunday with bondholders it was trying to persuade to accept reduced terms, The Wall Street Journal reported.

The weekend talks came after a second deadline for bondholders to agree to the so-called consent solicitation passed Friday afternoon without the desired percentage of bondholders signing on, the Journal reported on its website on Sunday.

General Growth has said it may have to file for bankruptcy protection if it cannot refinance its debt.

Earlier this month, the second largest U.S. mall owner was seeking to restructure $2.25 billion of bonds, offering bondholders a percentage on their bonds if they allowed the company to skip interest payments and principal until the end of the year.

But the company failed to garner the support it needed from holders of these notes from Rouse Co, which General Growth acquired in 2004.

General Growth, which operates more than 200 U.S. malls, has $1.18 billion in past due debt. It also had an additional $4.09 billion of debt that could be accelerated by its lenders.

Last week, a Citigroup Inc (C.N) unit filed to foreclose a General Growth-owned shopping center in a New Orleans suburb after the mall operator failed to repay a $95 million loan.

The foreclosure will not trigger "cross default" provisions allowing other General Growth lenders whose loans aren't already past due to demand immediate payment, the Journal said, citing people familiar with the matter.

A General Growth spokesman was not immediately available for comment.

Gold $954.10

[edit on 3/23/2009 by Hx3_1963]

I honestly feel that this rally is a setup for people in the know to make bank off of shorts before they change the short selling rules in the next month.

reply to post by Hx3_1963

How is shutting down a fair portion of yer business a good thing, as in shares rising???

Closing low performance branches that are more of a convenience to customers than anything else. So instead of having 5 branches in one town, they might have 3 or 2.

All stocks will be up for the upcoming "announcement" .. I am still trying to understand it, reading different articles. I suggest you do the same.. it sure as hell sounds shady. CPadam gave me this link that I found enlightening, please, read it and comprehend why investors are seeing this as a good sign.

www.nakedcapitalism.com...

If it where not so complicated I have no doubt there would be public outrage over this..

S&P 500 +17.40 781.10 3/23 3:14am
Fair Value 764.67 3/21 8:18pm
Difference* +16.43

NASDAQ +24.50 1212.00 3/23 3:12am
Fair Value 1186.77 3/21 8:18pm
Difference* +25.23

Dow Jones +157.00 7372.00 3/23 3:09am
===
New Zealand 2591.42 -7.60 -0.29% 17:31
Australia 3483.10 78.10 2.29% 16:47
Nikkei 225 8215.53 269.57 3.39% 16:00
TOPIX 791.56 26.79 3.50% 15:00
TSE 2nd Sec 1820.67 24.83 1.38% 15:00
JASDAQ 40.40 0.97 2.46% 15:00
Korea 1199.50 28.56 2.44% 15:01
Taiwan 5124.18 162.56 3.28% 13:46
Taiwan OTC 75.95 1.86 2.51% 13:46
Shanghai 2325.48 44.39 1.95% 15:14
Shanghai A 2440.96 46.56 1.94% 15:14
Shanghai B 152.65 3.52 2.36% 15:14
Shenzhen A 809.87 17.88 2.26% 15:00
Shenzhen B 343.30 7.93 2.36% 15:00
SHSZ 300 2439.40 59.56 2.50% 15:01
Shenzhen comp 8885.75 238.24 2.75% 15:00
Hong Kong 13345.87 512.36 3.99% 15:10
HK CN Ent 7895.47 399.51 5.33% 15:10
HK Aff Crp 3085.91 153.49 5.23% 15:10
Singapore 1646.78 49.86 3.12% 15:10
SGX China 51.16 2.80 5.79% 15:25
Vietnam 260.16 -6.46 -2.42% 11:01
Thailand 436.64 7.00 1.63% 12:31
Philippines 1879.09 45.19 2.46% 12:11
Malaysia 872.98 16.16 1.89% 15:25
Indonesia 1403.59 42.70 3.14% 14:25
India 9276.72 310.04 3.46% 12:55
===
Gold $957

[edit on 3/23/2009 by Hx3_1963]

It's tiiiimmmmeeeeeee for Tentickles Dance Minute!
[atsimg]http://files.abovetopsecret.com/images/member/d85904a94d17.gif[/atsimg]


On a serious note.
I'm going to be watching the market this week with baited breath. Building upto G20 shall be interesting to see how much confidence people have in our leaders to 'fix' this Depression.

reply to post by Tentickles


Lol, zomg.. so hillarious...

Reminded me of my first corporate retreat and the stupid work books with hundreds of graphs laid out exactly like that lol.

S&P 500 +22.30 786.40 3/23 3:56am
Fair Value 764.67 3/21 8:18pm
Difference* +21.73

NASDAQ +33.50 1221.50 3/23 3:54am
Fair Value 1186.77 3/21 8:18pm
Difference* +34.73

Dow Jones +207.00 7422.00 3/23 3:55am

Better hang on tight tomorrow...it's gonna be a bumpy day!!!

reply to post by Hx3_1963


A.K.A Calling markers (pre 2000 more like 1930's collapse)

A lot of bankers etc from all over the world started calling markers on everyone else and it eventually made it to main street. (MAIN reason I got rid of our new truck )

to add:

YEAH like I said calling markers and putting the weak under the bus!

Last week, a Citigroup Inc (C.N) unit filed to foreclose a General Growth-owned shopping center in a New Orleans suburb after the mall operator failed to repay a $95 million loan.

The foreclosure will not trigger "cross default" provisions allowing other General Growth lenders whose loans aren't already past due to demand immediate payment, the Journal said, citing people familiar with the matter.

A General Growth spokesman was not immediately available for comment.

You can be only 10 days past due now and get called up with a pay in full marker.

[edit on 23-3-2009 by xoxo stacie]

Jeeezus.. the Treasury is trying to say they will pump $100-300 billion of the "bailout" -- (hasn't that pool dried up yet?) and the private sector will cover the rest, to remove a whopping $1,000,000,000,000 off bank balance sheets.

HA, the whole scheme is just mind boggling how they are going to pull this off (I seriously doubt the majority will come from private hands)

DOW futures +180-/+ .. this could very well extend the rally significantly, giving us a huge V in our recent decline.. still -17% YTD, im going to read a book and go to bed, I'll see you guys tomorrow afternoon!