The Traderszone Network

Junk bond fund rattled markets Friday
The risk aversion in markets Friday was kicked off when Third Avenue Management announced it was suspending redemptions from a junk bond fund as it liquidated.

Submitted by Salil Mehta via Staistical Ideas blog,

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David van Rooyen lasts less than 4 days as South Africa’s finance minister
Nothing is more powerful than the market.
“I used to think if there was reincarnation, I wanted to come back as the president or the pope or a .400 baseball hitter. But now I want to come back as the bond market. You can intimidate everybody,” US political pundit James Carville said.

China Securities Journal headline
The one thing you can takeaway from continue high forecasts and targets is that it means the PBOC will be forced to continue to ease.

Confirming what we explained here, Goldman Sachs notes that the publication of a new CNY exchange rate index suggests an increased focus on broader CNY moves against other non-USDollar currencies and reinforces the likelihood of further depreciation versus the USD.

Goldman Sachs writes…

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NZD/USD opens down 7 pips to 0.6710
Deutsche Bank is light on the reasoning for the call.
“Following the RBNZ disappointment last week, these are good levels to
get short given imminent Fed tightening, falling milk prices, reemerging China
growth risks and light positioning,” Deutsche Bank says as a rationale behind this
call.

The penthouse at 1185 Park Avenue in New York City has four bedrooms, a wrap around deck, and views of Central Park. It’s also completely falling apart. Real estate broker Ryan Serhant and renovation guru Lee Stahl show CNNMoney’s Vanessa Yurkevich how to market the property.

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