Chillin' out till it needs to be funded
Citi has been returning its borrowings thru SIVs and bought back an additional $17 billion yesterday even as Citi stock fell 23% on the bourses yesterday. There were indications that investors ike Weil thought these steps few and ineffective to bring back Citi from the brink. It also closed its special opportunities fund this month ( CSO fell 53% in October and had to be closed down)
Meanwhile there are still clouds over the HBOS takeover by Lloyds, analysts are afraid to discuss the future of the Dow or the Dollar and junk yields continue to stay above 20%.