tag:blogger.com,1999:blog-6616959642391988608.post803244085232276794..comments2024-03-28T00:18:25.641-07:00Comments on Calafia Beach Pundit: Credit spread updateScott Grannishttp://www.blogger.com/profile/14028519647946868684noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-6616959642391988608.post-15422125955407417982010-01-07T12:25:16.911-08:002010-01-07T12:25:16.911-08:00CMBS spreads have tightened considerably in the pa...CMBS spreads have tightened considerably in the past six months. <br /><br />http://www.markit.com/en/products/data/indices/structured-finance-indices/cmbx/cmbx-prices.page?<br /><br />I think this reflects a) the general improvement in the economic fundamentals, b) the major improvement in all financial fundamentals, c) very accommodative monetary policy, d) rising inflation. <br /><br />In Scott Grannishttps://www.blogger.com/profile/14028519647946868684noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-34149388802435139052010-01-07T12:10:19.687-08:002010-01-07T12:10:19.687-08:00Scott, with all the discussion about CRE,,,,could ...Scott, with all the discussion about CRE,,,,could you explain<br />the change we have seen CMBS spreads and what they tell us...broderohttps://www.blogger.com/profile/12296214283216386700noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-37722823993276360092010-01-07T11:30:11.981-08:002010-01-07T11:30:11.981-08:00State tax collections are a lagging indicator. If ...State tax collections are a lagging indicator. If the economy continues to improve, I would expect to see states' fiscal conditions improve, perhaps significantly, over the next year. I don't believe a federal bailout is necessary, but I wouldn't rule it out. Bailouts are only inflationary if the Fed screws up.Scott Grannishttps://www.blogger.com/profile/14028519647946868684noreply@blogger.comtag:blogger.com,1999:blog-6616959642391988608.post-56921457161854379012010-01-07T11:21:41.378-08:002010-01-07T11:21:41.378-08:00Scott,
Based on the fact that cities, counties, a...Scott,<br /><br />Based on the fact that cities, counties, and states are facing the biggest decline in tax receipts in history and facing massive deficits.......coupled with a rising expense outlook and sitting on record debt loads and servicing requirements.....<br /><br />Do you think that the market is pricing in a massive government bailout of municipal obligations? If so, what do you thinkalstryhttps://www.blogger.com/profile/16025398896639165994noreply@blogger.com