Futures looking lower this morning as the market swings continue to be slightly exaggerated by a lack of overall liquidity.
This morning’s chatter includes speculation as to whether the Fed will cut at Sept 18th’s meeting. Also, WSJ reports KKR is negotiating the terms of the $24B loans to finance FDC.
Bernanke speaks tomorrow on monetary policy at a conference in Wyoming. Supposedly the text will be released at 10am ET.
LEHM cut numbers on several brokers this morning (MS, MER, GS, BSC). Freddie Mac reports 45% drop in earnings and posts $320mm loss on new mortgages. H&R Block announced Q1 losses doubled.
Also there’s apparently a bankruptcy filing by an Aussie hedge fund that is prompting some Yen carry trade unwinding.
Rockbay News: WCHV positive on CVS, RTP completes $40B term loan to finance AL acq, HTH started at outperform at MOKE, GCO trading slightly lower premkt on earnings, SHLD trading lower premkt on earnings,
Vito’s Trivia: How about wine consumption, per capita? Top 5 countries?
Yesterday’s Answer: Ireland is the largest consumer of beer, per capita, in the world. Followed by Germany, Austria, Belgium, and Denmark. USA ranks 8th.