GLG News by Structured Finance Experts

James McMahonPresidentJM Bear Advisors

Residential Mortgage Application Market Still Dominated By Fear

May 11, 2009

Analysis of:Abbey says mortgage market is set to grow | www.timesonline.co.uk

We are clearly at the trough of this cycle. Except for some speed bumps ahead which will all be different in size and lenght we have some time before we see a ramp up. Consumer skepticism in the existing and new housing market still dominated by consumer fears of job stabiity and housing prices.

Robert CanterPresident-FounderPerformance Realty Solutions, LLC

How and why the mighty are falling

April 28, 2009

Analysis of:Opus South Files Chapter 11 | www.globest.com

The fact that a well respected usually conservative developer has filed for Chapter 11 protection under the Bankruptcy Code is another chilling example of just how far and deep this economic downturn has affected every corner of the commercial real estate sector.

John David CoffeyPresidentDavid Coffey Agency, Inc.

Rate increases for the State run property insurance company.

April 20, 2009

Analysis of:Insurance Task Force Backs Capped Hike Of Citizens' Rates | www2.tbo.com

Florida officials now understand how the business of insurance works in Florida and how much it really does cost.

Justin HupetPrincipal & Managing PartnerFour Peaks Capital LLC

Institutional Investors Participation in Recent Equities Market Rally: A Canadian Perspective

April 20, 2009

Analysis of:financial times ft.com | www.ft.com

The major Canadian equities market index, the S&P/TSX Composite Index, is up 5% YTD (up 25% since March 9th, 2009) ; with the overall value traded down 27%, and volume up roughly 18% compared with the same period last year on a year-over-year basis. The number of transactions is up 26% YTD vs. the same period last year. The TSX Venture exchange (which consists of micro and small capitalization companies) is up 24% YTD. The consensus among institutional investors in Canada, as elsewhere around the globe, remains divided. A few things likely need to occur before the majority of the naysayers move toward the other camp, such as; a visible and sustainable improvement in the global economy, a broad-based recovery in corporate earnings, a steady and meaningful increase in the prices of commodities, a slowdown or reversal in the recent rate of increase in the unemployment rate, more balanced conditions in the housing market, and a significant positive shift in consumer confidence.

Harnath SithamrajuConsultantHarnath Sithamraju

Opportunities still exist

April 13, 2009

Analysis of:Private equity money dries up for India Inc | economictimes.indiatimes.com

Current downturn is temporary and though it would take some more time to sort out, would eventually lead to better times.

Harnath SithamrajuConsultantHarnath Sithamraju

No interest in passing the buck

April 8, 2009

Analysis of:Two Australian banks not to pass on full rate cut | uk.reuters.com

Faced with a global recession, a future tense and rising costs of funds have locked out any interest rate cuts by the big banks.

Robert CanterPresident-FounderPerformance Realty Solutions, LLC

Office vacancy must mean different things to different people.

April 7, 2009

Analysis of:U.S. Office Vacancies Hit 15.2% -- and Rising | online.wsj.com

When Office Vacancy supply is being dumped on the market from layoffs rather than from over building, isn’t it the same set of dire circumstances the market has to deal with. Isn't vacancy just that vacancy? Of ocurse it is!

James McMahonPresidentJM Bear Advisors

Deposit Rates Inch Up on All Products Across all Financial Service Markets

April 1, 2009

Analysis of:Top savings rates rise as banks step up competition | www.ft.com

The competition between Banks, Thrifts, Credit Unions, Internet offerings and almost any deposit based institution has started to heat up in the US as well. Deposit rates tumbled across the product spectrum. A plethora of products contracted down to a handful. The expertise and talent in asset liability management (ALCO) of all Financial Institutions (FI's) became the new focus of bankers worldwide wether they had a handle on it or not.

Gavin CampbellFounder, Managing PrincipalSteelbridge Capital LLC

Value, Like Beauty, is in the Eye of the Lender

March 31, 2009

Analysis of:Soros Says Commercial Property Values Will Fall 30% | www.bloomberg.com

Commercial real estate values have dropped to a point where owners generally aren't sellers, so realized transaction pricing has not followed the value drop. But lenders will force transactions on overleveraged or defaulting assets in due course. But, depending on the product type and geography, the pricing and value implications of this will vary dramatically.