August 2008 – Brinker Fixed Income Advi$or

The August 2008 – Brinker Fixed Income Advi$or investment letter is available for subscriber access at www.brinkeradvisor.com

GDP – 2nd Quarter 2008

Here is the full 2008 2nd Quarter GDP report. The 2nd quarter advance GDP figure is 1.9% – up from 0.9% in the 1st Quarter. 

Federal Reserve press release

Today the Federal Reserve announced a few changes/improvements to the existing liquidity facilities recently created. The full press release can be viewed here. Below are the major changes: 1) Extension of the Primary Dealer Credit Facility (PDCF) and the Term Securities Lending Facility (TSLF) through January 30, 2009. 2) The introduction of auctions of options [...]

July 25th – What we’re reading

Huge Housing Bill Set to Become Law July Beige Book Report The iPhone Blog PIMCO – Bill Gross PIMCO – Paul McCulley TSLF Operations – NY Fed

Inflation Expectations

The following two charts illustrate the 5-year and 10-year inflation expectations by comparing the 5 & 10 year nominal treasury (pink line) versus the 5 & 10 year TIPS (blue line). As you can see, inflation expectations (yellow line) remain well anchored. 5-Year Nominal vs. TIPS 10-Year Nominal vs. TIPS

Put/Call Ratios – chart

The following chart illustrates the 10-day and 60-day put/call ratio relative to the S&P 500 Index since January 2004:

July edition online

Our July 2008 edition of the Brinker Fixed Income Advisor is online – available for subscriber download at http://www.brinkeradvisor.com/