Market Currents

• Tuesday, July 8, 2008

• 04:28 AM Financial stocks are once again taking markets down. But the iShares S&P Global Financials Sector ETF (IXG) is off only about 35% from its high, versus (for example) a fall of over 50% for the China market. IXG a short, even here? Comment!

• Friday, June 6, 2008

• 03:05 AM The global banking industry (IXG) has reported $387bn in credit losses since January 2007, of which more was suffered by European than U.S. firms: $200bn vs. $166bn. The Europeans bought packaged U.S. subprime debt. Comment!

• Tuesday, June 3, 2008

• 01:55 AM "Global financial companies are like patients living on intravenous drips", says one head of research. "They will stumble with even a small shock." ETF: IXG. Comment!

• Monday, June 2, 2008

• 02:01 AM Texas Pacific Group will buy 20% of Bradford & Bingley, the UK’s biggest buy-to-let lender, for £150 million. Infusions bullish for global financials (IXG)? Comment!