ES -- DX/CL -- isee -- cboe put/call -- specialist/public short ratio -- trinq -- trin -- aaii bull ratio -- abx -- cmbx -- cdx -- vxo p&f -- SPX volatility curve -- VIX:VXO skew -- commodity screen -- cot -- conference board

Tuesday, February 17, 2009


carmakers likely headed to bankruptcy now

between the obama administration's refusal to name a "car czar" and rumors that GM and chrysler have been told to address issues stemming from bankruptcy in their upcoming congressional testimony, it seems that the jig may be up for the big three and some version of the "orderly bankruptcy" idea involving government DIP financing is in the cards.

i hope they're ready for the potential fallout in the CDS and synthetic CDO markets, but i suspect the political structure isn't even aware of the problem.

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