Uncategorized

March, Tuesday 13, 2012

DOW + 217 = 13,177SPX + 24 = 1395NAS + 56 = 303910 YR YLD + .08 = 2.11%OIL +.04 = 106.75GOLD – 25.70 = 1676.10 SILV – .20 = 33.51PLAT – 7.00 = 1692.00 It’s a crazy world. Stocks posted their best day of the year. Go figure. The big boost seems to be JPMorgan announcing a dividend, while at the same time 3 banks failed the Fed’s Stress Test. Wait a minute, you’re asking yourself, “Self, am I going crazy or was the Fed supposed to release the results of the Stress Test on Thursday?” And of course, the answer is yes. The Fed, in releasing its annual stress test results, said 15 of the 19 largest banks would have satisfactory capital buffers, even after considering banks’ proposed dividend increases or share buybacks. The regulator said Citigroup, Ally Financial, SunTrust, and MetLife fared worst under the supervisory stress ratios, with Tier 1 common capital ratios of 4.9 percent, 2.5 percent, 4.8%, and 5.1 percent, respectively. The bank holding companies that came out top were Bank of New York Mellon with a Tier 1 common capital ratio of 13.1 percent under the hypothetical financial shock, State Street Corp with 12.5 percent and American Express with 10.8 percent. Bank of America came in with 6.2 percent, and JPMorgan’s result was 5.4 percent. So, only 4 out of 19 enormous financial institutions failed the stress test, meaning that just over one-quarter of the biggest banks in the country could implode at …

READ MORE →