Lehman (LEH) stock has declined by about 10 percent (as of this writing at 255PM New York time). The firm has been the subject of several rumors. One rumor suggests that they will announce additional large writedowns in their mortgage book. A separate rumor had senior management jumping ship. There was also another story that Barclays (NYSE:BCS) would act in a deus ex machina capacity and save the day.
The bond market seems to place some credence in the Barclays story as the CDS which opened at 280/290 were quoted 273/283 around 215PM New york time.
In a seperate financial story, investors have cast a sceptical eye in the direction of Bank America (NYSE:BAC). That stock has been battered along with its peers and the dividend yield at the moment is about 10.6 percent. The market is casting a harsh judgement on the state of that firm and its prospects once it is saddled with the financial impediment that is Countrywide (CFC). ( As an aside, impedimenta was literally the extra baggage which the Roman army carried with it as it plundered and pillaged through the countryside during the formative years of that great Empire. Empires lasted a lot longer in those days!)