Wednesday, May 06, 2009
The results of the government’s tests will be announced tomorrow
FT: Billions required to bolster US banks
Citigroup and Bank of America have emerged as the US banks with the biggest capital shortfalls after the completion of the government’s “stress tests”, with Citi’s capital needs projected to be more than $50bn and BofA requiring about $34bn in fresh equity.
BofA’s capital deficit is more pressing because Citi has already agreed to bolster its balance sheet by converting preferred shares owned by the government and other investors and selling non-core businesses
Posted by devo @ 11:09 PM (515 views) Add Comment
5 Comments
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1. drewster said...
Today I went short on the S&P 500. Over the next few days we'll see if my timing was any good! *fingers crossed*
2. crunchy said...
1. drewster
I dont trade the S&P but if you have a support level profit target which you should have, trail your stop loss at a third of that target. That's the 1/3 ratio you should be risking. That's how I would play it. Take it or leave it!
3. bellwether said...
Drewster I'm struggling to read the next couple of days, although given that the US Govt have procured the rally I can't see the stress announcement being other than market friendly. Not a prediction just a concern.
Over the longer term you might find the Jeremy Gratham post I put up this morning useful.
4. crunchy said...
Anyone got an eye on GBP/CHF Stonking! lol
5. crunchy said...
That's sick! But quick. : )