Friday, Jun 20, 2008
Why the FTSE 100 could fall below 5,000 by September
MoneyWeek: Why the FTSE 100 could fall below 5,000 by September
If you thought the sub-prime crisis was the only thing to worry about, you were wrong. There’s another big storm brewing, and this one’s heading for the company debt markets...
Posted by damien @ 10:39 AM (659 views) Add Comment
7 Comments
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1. lierbag said...
Thanks Damien. If anyone knows how/where to access the iTraxx Crossover Index in graphical form, the information would be useful.
2. Stevie Dee said...
My tip, is to trade "Gold" against "Google", when "Gold" goes up! "Google" goes down! (in most cases) & vice versa.
3. Stevie Dee said...
The reason: We live or are living in the "information age". Google, the top information search engine, against Gold, the most trusted and traded commodity in terms of longevity. Simple really, oil is merely a distraction.
4. Noel said...
There are a few providers but none that I know that are free. For example, broker screens, Bloomberg and Markit. Is there a relationship between the FTSE and the ITRAXX XOver? The only one that I aware of is equity vol.vs credit spread.
5. uncle tom said...
My feeling is that the FTSE has already taken most of this on board. The debt heavy, recession vulnerable businesses like Punch Taverns, DSG and the homebuilders have already seen their share prices trashed.
There is a slightly surreal scenario emerging that could see several companies that have asset values well in excess of their debt obligations nevertheless forced to liquidate.
There could be some very good pickings when the assets are sold..
6. damien said...
You can find smaller versions of the iTraxx charts here:
http://www.indexco.com/
AFAIK the larger graphs are available on on dedicated terminals (Bloomberg etc) only
7. ontheotherhand said...
How will the correlation be influenced by the changing constituents of the FTSE? What I mean to say is that building companies have fallen out of the FTSE and BP, Shell, Glaxo, and Vodafone are worth a greater share and RBS and HSBC a lot less.