Another bad omen for stocks comes from storied hedge fund T2. According to Reuters, T2 partners Whitney Tilson and Glenn Tongue Tilson “have halted their move into the US mortgage bond market.”
Investing your money and keeping it safe and sound is crucial, especially during a recession. Money Morning’s Mike Cagesso shows you a few DRIP companies to keep your eye on.
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Gold prices have edged up on continuing worries over the health of the U.S. financial system and the a limp dollar.
Reuters reports that spot gold “was at $964.00/965.00 an ounce at 0951 GMT from $963.10/964.10 in late New York trades on Wednesday, when it fell more than 1 percent after oil prices tumbled.”
Gold and silver have been on a tear lately, says Taipan Daily editor Justice Litle. Soon the Fed is going to get carte blanche to ’save’ Fannie Mae (FNM) and Freddie Mac (FRE). You want to have a signicant portion of you portofolio in the yellow metal when they do…
Moody’s Investors Service on Friday downgraded the debt rating of key bond insurers MBIA Inc. (MBI) and Ambac Financial Group Inc. (ABK), increasing expectations that more write-downs are in the offing for the U.S. financial-services sector, which has already written off nearly $400 billion in losses.
Moody’s Investors Service, subsidiary of Moody’s Corp. (MCO), downgraded MBIA to A2 from Aaa, and Ambac from Aaa to Aa. The downgrade caused MBIA shares to shed more than 13% of their value, with an 86-cent decline to close at $5.59 on Friday. Ambac shares fared a bit better, gaining 2 cents to close at $2.05.
Moody’s downgrades follow similar reductions from Standard & Poor’s and Fitch Ratings Inc.
You can bet there will be a lot of discussion about interest rates this week, thanks to the release of the producer price index (PPI) report tomorrow (Tuesday) and the U.S. Federal Reserve meeting minutes on Wednesday.
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