02 November 2009

Beta Bulls Coming Out of the Closet

As you can see for yourself, some of the lower quality banks are doing well this AM (perhaps now that the weight of CIT uncertainty is lifted?) or perhaps just because. That's why the risky portfolio has put up gains so far. Nothing special but enough for the Beta Bears to consider a trip back to the cave. Large FL fund pulled their bearish bet this am per my sources.

Bullish for Beta 136, VMO 55 and PMO 65 bps.

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