Chillin' out till it needs to be funded
Even as Goldman Sachs reported its first loss in Asia in 2011, losing $103 mln in the continent across China, India, Hongkong and many of its favorite emergent markets including Korea, Thailand, Vietnam and Mongolia down form a $2 bln profit here in 2010.
However BofA and Citi were also down ahead of the Greek swapdeal being signed this Thursday. Greek bonds default seems the likeliest scenario as PSI swaps will certainly trigger CACs in a bid to complete, triggering default or still open is the idea that the complete deal could vbe scuppered despite 50% bondholders expressing agreement through IIF
Both Citi and BofA were downgraded by Bernstein last week after a 44% rise in Citi and more than 58% in BofA in 2012. JP Morgan also downgraded BofA to hold as the Economy was rerated to having already performed the whole nine yards of recovery it could in 2012 ‘s first 8 weeks. S&P targets though have been increased to 1400. Keith Horowitz of Citi then joined in.
Also, correct me if you think not, but one feels the networks really stretching out to make Super Tuesday newsy this time, it being a real dull bag of tricks, most of the four surviving candidates showing their fatigue differently and coming up with press bites from David vs Goliath to a comeback after the Tuesday..and Romney actually getting to assuming he is the candidate against Obama.