Accrued Interest
Accrued Interest's Latest Articles
2009 Forecast: That Bad Huh?
Jan 2, 2009 · 0 Comments
For most of my career, with an exception here and there, there have been two persistent trends. One is that in the debt markets, the fundamental outlook has generally... >>>
Municipals Bond Defaults: Oh, Switch Off!
Jan 2, 2009 · 0 Comments
Let’s compare two companies, thinking in terms of credit-worthiness. Note that on May 1, 2008, credit-default swaps (CDS) on both companies were around 55bps.... >>>
Bad Liquidity Cuts Both Ways in Municipals
Dec 29, 2008 · 0 Comments
Municipal bonds have posed an impressive rally in the last few days: the Barclays Municipal Index is up 3.78% since 12/15. That is better than either the Treasury... >>>
Mark-to-Market: Discussion Minus the Zealotry
Dec 23, 2008 · 0 Comments
Mark-to-market accounting has got to be one of the most controversial topics of the year. Unfortunately, its also rife with bias and downright zealotry. You have... >>>
TALF: Quicker, Easier, More Seductive
Dec 19, 2008 · 0 Comments
The Fed has expanded the Term Asset-Backed Loan Facility (TALF), which AI first discussed here. Here is the quick recap of the facility. 1) Fed will loan funds... >>>
Is the Treasury Market a Bubble?
Dec 18, 2008 · 0 Comments
Yields on U.S. Treasuries have fallen to levels once thought impossible, and we are now hearing the “B” word (bubble) used to describe these formerly... >>>
Mortgage Backed Securities: Its a Trap!
Dec 16, 2008 · 0 Comments
The agency-backed mortgage sure is tempting. Fannie Mae 30-year 6% mortgage-backed securities are currently yielding in the 4.40% area with just a 2-year average... >>>
Negative T-Bills?
Dec 11, 2008 · 0 Comments
I’m on record as saying that I think Treasury bonds have no logical lower limit in yield. While its conceptually hard to be bullish on the 10-year at 2.60%,... >>>
Lower Interest Rates and Home Prices
Dec 7, 2008 · 0 Comments
Calculated Risk is one of the best financial blogs going. Accrued Interest should only hope to get 1/10th of their hits. And the blogging world will certainly miss... >>>
That Isn’t What I Had in Mind
Dec 5, 2008 · 0 Comments
Lost 500,000 jobs? Almost 200,000 worse than expected? And yet bonds sell off? This isn’t a case of whisper numbers being worse or any such thing. Its a matter... >>>
