busy tuesday, page-96

End of quarter shock and awe. A quick whip around the ABX indices says the banks most likely won't be making write-downs this quarter - at least in relation to US mortgages. That should lead to an easing in credit market conditions.

Case-Shiller housing data was not as positive for July as it was for June. Bearing in mind that June is the seasonal peak it wasn't all bad either. I count 11 out of 20 cities where house prices were flat or had modest gains on a monthly basis.
Other good news is that hotcopper has introduced easier image posting.