Citi over 4 USD, BAC over 7 USD, JPM over 27 USD...

[ASusilovic]

This CDS report was written by Markit’s Gavan Nolan
European credit indices took their cue from stock markets and tightened today. The Markit iTraxx Europe index gave up most of yesterday’s gains in a mixed session. Widening credits only marginally outnumbered names that tightened, with banks and autos underperforming. UBS was in focus amid rumours of large trading losses in the fourth-quarter. The Swiss bank has already posted larger losses than any other European bank, and expectations of more to come see it trading wide to its peers. It has failed to participate in the recent financials rally, reflecting the negative sentiment surrounding the bank. Credit Suisse also widened today, though its spreads remain nearly 100bp tighter than its rivals. The differential is somewhat surprising given UBS agreed to government assistance in October and Credit Suisse declined the offer, leaving it with more hard-to-value assets on its balance sheet. UBS is due to report its results on Feb 10.

 

[mari]

the risk in BAC seems to be all no win situation... with bac being scutinized for the bank deal merril. All the back debt on their books and BAC didnt clearly disclose it to the investors. nevertheless at 7 dollars i think this is still a buy simple due to the fact all the bad news seems to be out... even though the book value is much less due to the merrill debacle.

 

[mari]

I believe Bank of America management was aware of the problems at Merrill but chose not to disclose them. Despite the bad press of late, Bove thinks Bank of America is an "appealing stock" as the Merrill deal strengthened the bank's business

 

[Illum]

Quote from mari:

I believe Bank of America management was aware of the problems at Merrill but chose not to disclose them. Despite the bad press of late, Bove thinks Bank of America is an "appealing stock" as the Merrill deal strengthened the bank's business

Bove is a P.O.S

C will be 0 in 7 days or less. Bac will either be 0 or 3.

 

[SCI new york]

Quote from Illum:

Bove is a P.O.S

C will be 0 in 7 days or less. Bac will either be 0 or 3.

and you're basing this on what information?

who are you, abbey joseph cohen or something? unlikely. you my friend, are a ninkumpoop. Go ahead and short it, I hope it blows up in your face so I can laugh in hysteria. Another one bites the dust.

 

[FanOfFridays]

Quote from Illum:
C will be 0 in 7 days or less.

Amazing call. Quality analysis here.

 

[S2007S]

Quote from Illum:

Bove is a P.O.S

C will be 0 in 7 days or less. Bac will either be 0 or 3.

If that were to occur you would be welcoming the s&p with a PE of around 12-15.....

S&p would easily fall 25-40% in a few weeks time.....that could easily place a 500 on the s&p....

Would that make it a buying OPPORTUNITY???

 

[ASusilovic]

Moody’s on Sunday night downgraded Barclays’ credit ratings, saying it expected the UK bank to record ”significant further losses” on credit-related writedowns.

The credit rating agency downgraded Barclays’ long-term debt from Aa1 to Aa3 after reviewing the bank’s prospects in the credit crisis.

 

[makloda]

Barclays debt and UK government debt... isn't that basically identical now?

 

[ASusilovic]

BAC shares fell sharply Thursday as investors continued selling off shares after the stock fell below $5 a share just yesterday. Already aggressive selling accelerated as many mutual funds have charters that prohibit them from owning shares that trade under $5. Bank of America shares were off 16% in early trade, at $3.95 a share. According to FactSet Research, Bank of America shares last closed under $4 a share in December of 1984.