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This blog is produced by David Merkel CFA, a registered representative of Finacorp Securities as an outside business activity. As such, Finacorp Securities does not review or approve materials presented herein. By viewing or participating in discussion on this blog, you understand that the opinions expressed within do not reflect the opinions or recommendations of Finacorp Securities, but are the opinions of the author and individual participants. Neither the information nor any opinion expressed constitutes a solicitation for the purchase or sale of any security or other instrument. Before investing, consider your investment objectives, risks, charges and expenses. Any purchase or sale activity in any securities instrument should be based upon your own analysis and conclusions. Past performance is not indicative of future results. Finacorp Securities is a member FINRA and SIPC.

David Merkel

At my blog there are two main purposes: teaching investors about better investing through risk control, and tying all of the markets into a coherent whole.

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    Bill Pass

    First permanent injection of funds in 10 months.  A bill pass.  Now, it qualifies as permanent, but the $10 billion injection will only last 2-3 months.  Not very permanent to me.

    The Fed is doing all it can to cram liquidity into the short end of the market.  They have expanded the TAF to $100 billion, and might go beyond that.

    I suspect that these measures can succeed in bring the TED spread down for now, but unless they make the TAF permanent, there will be an effect when they unwind it.   What these measures can’t do is unjam our mortgage markets.  A coupon pass where they buy some agency debt would make a nice statement.

    This entry was posted on Friday, March 7th, 2008 at 12:25 pm and is filed under Bonds, Fed Policy, Real Estate and Mortgages. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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