Reuters is reporting that according to Lehman's chief global fixed income strategist, Jack Malvey, this is going to be the "deepest correction" ever in structred finance.
Fasten your seat belts, we are in for one hell of a ride.
"This is the deepest correction we've ever seen in structured finance,"
Malvey said in an interview on Friday. "This is now worse than Long-Term Capital. This is so dispersed, so interlocked and the relationships among the various entities are not as evident. This is a painful lesson in financial engineering."
http://www.reuters.com/article/bondsNews/idUSN0937458120071109
2 comments:
Great Blog !! This is one of my daily reads and thanks for providing the great analysis and news updates.
Anonymous,
Thanks for the comment. Will try to do my best to keep the blog up to date.
Sandy
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