Unwinding the Trade: The the stripper carry trade that it. As the Canadian dollar hits equality with the US dollar, the traditional Canadian stripper arbitrage trade has become completely unwound. Au revoir Club Super Sexx!
Glitch! It’s not just the NYSE anymore. Electronic trading of financial and agricultural derivatives at the Chicago Board of Trade has ground to a halt. They’re blaming “a technical glitch.” It’s all open outcry now.
Carney: So the word on the Street is that the Fed is watching commercial paper market very closely. Not really concerned about mortgages. What are you hearing there in Wyoming?
Jackson, Wyoming Correspondent: I caught 5 flyfishing today and now I’m at the rodeo.
Carney: Unconfirmed reports of a large London based hedge fund liquidating their positions and causing serious market disruptions.
Levin: Got you beat. I have reports of several grown men crying outside of Goldman Sachs. No indications why.
Levin: Are you still watching the vids of Burnett out in the rain? Bloomberg reporting Global Alpha hedge fund has down 26% ytd.
Carney: Maybe I retired the phrase “bloodbath” too early.
Levin: My bitches are canceling all their dates with Goldman guys right now. Nothing is worse than poor people talk on a rainy night. Poverty is not an aphrodisiac.
Bearish Trader: The producers at CNBC are trying to kill Erin Burnett! They’ve got her standing in the rain in Times Square.
Carney: Our theory is that they’re trying to push up the markets by wet-tshirting the Street Sweetie.
Bearish Trader: Those F—-ers! It’s working. Almost in positive territory.
Carney: So do you guys all get to go on vacation if LIBOR hits 6%?
Finance Lawyer: no rest for the wicked
Carney: Seriously. Who’s still borrowing at this level?
Finance Lawyer: people who need to show they can. look at Bear borrowing at +2.45.
Hahn : The Dow is down 300 right now.
Carney: That’s if you trust those Dow numbers. We’re hitting the Glitching Hour. Volume is through the roof. Who knows if they are even calculating it correctly? Dow might be down even further than it seems.
Hahn: Calm down. That was before people were used to this volatility. After four years of low to no vix. We’ve been at these levels for the last two weeks. Hye, jook. Trading curbs going into effect.
Carney: Yesterday was the highest volume ever. Ever. Watch for the glitch. I’m just saying.
Carney [16:01] So these Sowood guys are the ones who quit when the alumni started complaining that the dudes running their endowment fund were getting paid so much, right?
Levin [16:02] That’s the party line. But the rumors have it that Harvard dropped Meyer not because of alumni flap but because Robert Rubin knew the kind of trades Sowood/Meyer did were about to run into trouble.
Carney [16:02] I can’t get anywhere with these guys. They won’t return my phone calls. Let’s have Hahn call. He’s a Harvard man.
Levin [16:05] Don’t take it personally. They won’t call back Jenny Anderson at the New York Times either.
Carney [15:21]: Lots of CNBC material on DealBreaker today. Aren’t we kind of hating a bit much on Maria? Feels like we’re piling on.
Hahn [15:22]: you are a weak man, carney. don’t go all bleeding heart on us now. didn’t you once ask whether warren buffett was going to hell?
Levin [15:22]: Yeah, Carney. Man up. There’s also lots of DealBreaker on CNBC today. Did you see that bit with Rebecca Jarvis?
Carney [15:23] That rocked. Remember to include her in our next poll of who moves your market.