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Monday, September 10, 2007

News this weekend

Bloomberg mentioned that Lehman Brother 5.75% bonds of 2017 yield 6.29%; you get a higher yield at Lehman than the country of Columbia. The banks stocks in the MSCI index in France trade at 7.96X earnings; comparable ones in the US trade at almost 10X earnings. You think the markets are in a funk? Disney needs to tests their toys for lead paint; economists throw out the R-word but it still costs you $500 for a Hannah Montana concert ticket. Maybe the Fed's concerned over concert tickets, they should look at the clothing discounts Gymboree is giving, where the real world shops. But thinking outside the box isn't new. You just had to check out the VMA's. Britney used to wither with a snake, now she looks like she's auditioning for a Jenny Craig slot. So we ended the week with a Friday selloff. Now we get a Monday rally, as that was the pullback to the lows.

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