the Epitome weekly- Newsletter

Issue: 0813| Tuesday, March 25, 2008

Equity HFs perform better than Debt counterparts

Japan: PE makes a fine start to 2008

Commodity futures: Funds rushing out

Investors’ help sought by HFs to deter banks

USD: Investors still bearish

Bank bonds could get backing, post-Bear bailout

Art Funds: Growing interest in Middle East, Asia

Sub-Saharan Africa: a new investment destination?

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Fed May Buy Mortgages Next, Treasury Investors Bet

Forget lower interest rates. For the Federal Reserve to keep the financial markets from imploding it needs to buy troubled mortgage bonds from banks and securities firms, say the world's biggest Treasury investors.

Even after cutting rates by 3 percentage points since September, expanding the range of securities it accepts as collateral for loans and giving dealers access to its discount window, the Fed has been unable to promote confidence. The difference between what the government and banks pay for three- month loans doubled in the past month to 1.92 percentage points.

The only tool left may be for the Fed to help facilitate a Resolution Trust Corp.-type agency that would buy bonds backed by home loans, said Bill Gross, manager of the world's biggest bond fund at Pacific Investment Management Co .…(Read more..)

Source : Bloomberg

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