Three-Month Bill At Historic Low

12-09-2008 2:03

cmoreira Joined on 10-31-2007 Geneva Posts 65

Three-Month Bill At Historic Low Reply | Contact DECEMBER 9, 2008   Three-Month Bill At Historic Low Thanks to investors continuing to flock to short-term government debt as a safe haven for cash, the U.S. Treasury sold $27 billion worth of three-month bills at a discount rate of 0.005 per cent - just a hair greater than the return you'd get, in dust bunnies, if you kept the money under your mattress. READ MORE     Dreier Charged With Fraud You've got to hand it to Marc Drier for his old-school approach to a swindle: the New York lawyer (allegedly) used good old-fashioned forgery and assumption of false identities to (allegedly) secure at least $113 million from two unwitting hedge funds by selling then falsified, worthless promissory notes - in this day and age! The SEC says about $100 million is still missing; I suggest looking in Dreier's Manhattan triplex, his country home in Southampton, and on his 120-foot yacht. READ MORE     It's Good To Be Jim Chanos New York Magazine profiles club-hopping, media-operating, self-made short seller Jim Chanos, whose Kynikos Associates has returned a reported 50% this year while rivals are sucking wind and bleeding red. His latest hunches? Chinese infrastructure, healthcare companies, and defence contractors. READ MORE     What We Really Need Is More Derivatives Cantor Fitzgerald is hoping that, dissatisfied with losing money on conventional exchanges, investors will flock to its newer, sexier sinkhole for cash. The broker is looking to create an exchange for "box office receipt contracts" - a.k.a. movie futures. READ MORE     S&P Downgrades Russia We saw this coming: an exodus from the Rouble and a sharp drop in oil revenues has driven Standard & Poor's to downgrade Russia's long-term debt rating, as the ratings agency is worried the country is running through its foreign currency reserves. READ MORE     Party Like The Dow's Above 11,000 Elite Island Resorts, the second-largest independently owned luxury Caribbean hospitality group, announces what could be for many the deal of a lifetime: the opportunity to roll back their currently depressed stocks to a higher value. READ MORE     The Trading Edge: Stress Test As the industry soldiers on, how traders handle tense situations can be the difference between survival and devastation. READ MORE