Thursday, March 26, 2009

March 26, 2009

Overall, more than 1400 hedge funds were forced to closed, with nearly half of those coming solely in the fourth quarter of 2008.

Bond auctions are moving the stock market – 7 yr

Yrs are so low in sovereign sec people are moving to corporates

Traders are forced to cover. Traders have dramatically increased their short positions – financials, etc

Quantitative easing trumps fundamentals. Relation trade points to commodities.

Largest rally in 17 yrs

Market was up big without the help of financials

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