Muni’s tax-exempt status upheld

Today the U.S. Supreme Court voted 7-2 to uphold a state’s right to provide tax-exempt status to in-state municipal bonds. Read full WSJ story The ruling overturns a Kentucky appeals court holding that had said the practice violates the U.S. Constitution because it discriminates against out-of-state bonds. The outcome means the opinion will require no [...]

May 14th – What we’re reading

Freddie Mac raising $5.5 billion April 2008 CPI report  released this morning. Year over year figures are: Headline CPI +3.9%. core CPI +2.3% Fed is ready to boast TAF loans again if needed LIBOR/TED spread improving

May 12th – What we’re reading

Ben Bernanke – The Improviser Credit markets improving Apple’s online store sold out of iPhones Treasury Cash Avalanche

Put/Call update

Through 5/12/08 close: 10-day: 0.93 60-day: 1.06 Today: 0.87

High yielding CD update

3 – month 3.55% @ Nexity Bank 3.51% @ E-LOAN 6 – month 3.75% @ Countrywide 3.75% @ Corus Bank 1 – year 4.1% @ GMAC 4.1% @ IndyMac 4.1% @ Countrywide 2 – year 4.25% @ Countrywide 3 – year 4.5% @ Countrywide 4.25% @ Capital One Bank 4 – year 4.75% @ Capital [...]

May 2nd – What we’re reading…

Bank of America may pass on the Countrywide debt Fed increases Term Auction Facility (TAF) liquidity by 50% Buffett buying Is a friendly Microsoft / Yahoo! deal imminent?

The Employment Situation

The Bureau of Labor Statistics (BLS) released the April 2008 Employment Situation report this morning. The report beat the very low expectations by showing a loss of 20,000 nonfarm payroll jobs in April – better than the expected 75,000 job loss estimates. In addition, the unemployment rate was slightly lower at 5% – down from [...]

May 2008 Brinker Fixed Income Advisor online

The May 2008 edition of the Brinker Fixed Income Advisor was published online today.