WeeklyBasis 5/11/09: Spring In The Market’s Step?

RATE UPDATE Rates on conforming loans up to $417k are holding around record lows even in the wake of improving economic data which can push rates up. This is largely because of continued Fed mortgage bond buying which drives bond prices up and yields (or rates) down. Rates on high-limit conforming loans up to $729k

Stress Test Results: Banks Need About $65b

Later today, results of the government conducted stress tests on the nation’s 19 largest are likely to reveal that some of these banks will need about $65 billion in additional capital, maybe more. Banks who need to raise money to cover potential losses in the coming two years are as follows: Bank of America Bank

100 Fund Mangers Apply For PPIP Program, Treasury To Respond May 15

The Treasury Department today announced the receipt of more than 100 unique applications from potential fund managers interested in participating in the Legacy Securities portion of the Public Private Investment Program (PPIP). Applying firms include traditional fixed income, real estate, and alternative asset managers. Successful applicants must be headquartered in the US and demonstrate a

Is Treasury’s PPIP Plan Enough To Fix Markets?

Last week, we discussed the Treasury’s Public Private Investment Program which is a way for banks to unload illiquid assets. As we said at the time, it’s a smart program. But the Economist this week points out that it’s only a half plan, and unless banks are forced to sell assets, it’s not likely to