- Roubini, Shiller [and Meredith Whitney] see more pain for economy
- Banker claims ‘irresponsible’ pricing is back
- Credit default swaps losing favor to corp bonds
Roubini, Shiller see more pain for economy – Reuters
“I see subpar, anemic, below-trend growth for the next couple of years,” Roubini said on a panel sponsored by Time Warner.
Housing expert and MIT Professor Robert Shiller was equally pessimistic, saying, with regards to the four-year housing downturn: “This thing is not over yet.”
Banking analyst Meredith Whitney said she was even more bearish than her fellow panelists, saying that better bank earnings would eventually be challenged by the toxic assets on their balance sheets…..
Banker claims ‘irresponsible’ pricing is back – Financial Times
Some banks are prepared once more to use “irresponsible” prices in their struggle to win market share for their capital markets businesses, according to a senior JPMorgan banker.
Viswas Raghavan, head of international capital markets at the US bank, said the much-talked about increase in investors’ risk appetite was being mirrored by the banks themselves.
“A lot of banks are looking to do deals at irresponsible prices,” he said. “We are finding some banks with market-share losses are offering to do deals for a pittance.”……
Credit default swaps losing favor to corp bonds – Reuters
Corporate bonds are becoming more popular than credit default swaps, as the influence of hedge funds and other leveraged investors declines and money managers seek out more traditional fixed income investments.
Healing equity and credit markets have sparked a surge of new corporate bond supply as investors that had been hoarding cash amid volatile markets gain more confidence in an economic recovery.
“The demand we’re seeing for credit is almost exclusively in bonds,” said Eric Beinstein, strategist at JPMorgan…..
Tags: Banks, CDS, Green Shoots, JP Morgan, Meredith Whitney, Nouriel Roubini, Pundits, Robert Shiller
