The Morning Morsel- Bank of America Pays TARP

Posted by UpsideTrader
on December 3rd, 2009

Bank of America announced yesterday that they will pay back TARP-all $45 billon of it, they will also issue about $18 million in equity equivalent securities. The stock is up over 3% in pre market.

Goldman Sachs authored their first eight recommended trades for 2010, which include a bet against volatility in the S&P 500, a pick for Russian stocks and growth in the British pound vs. the New Zealand dollar.

It looks like the Comcast-NBCU deal is just about complete and should close early next year.

UK’s Telegraph noted that S&P believes that European companies face $1.5 trillion funding shortfall next year as central banks withdraw emergency stimulus, and spendthrift governments across the world soak up much of the available capital. S&P noted that the shortage of funds will raise borrowing costs for business by an extra 75 basis points, with the risk of a more serious crunch for small companies.

Around the Horn:

- Rising risk appetite characterized stocks with economic optimism everywhere
- Japanese Exporter Stocks propel Nikkei higher by almost 4% to approach 10K
- Bank of America plans to repay $45 billion of govt bailout funds.
- Bernanke reconfirmation hearing begins
- ECB Rate decision but the press conference will be key for details on the ECB exit strategy from special measures.

Have a good one today.

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The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.