Once we get over the glut of shrinking spreads, these stocks will rise based on the new macro-prudential measures the government announced this month.
It's in effect a demand for the new macro-prudential regulator being created by the Treasury which will sit within the Bank of England - the Financial Policy Committee, of which Lord Turner is a member - to have important and unprecedented new powers to determine credit creation by banks and to determine the distribution of credit.
Now the reason Morgan Stanley has been taking a keen interest in all of this is because of the noises coming out of the Financial Policy Committee - the new macro regulatory arm of the Bank of England currently working in an informal capacity but soon to have statutory powers - that the capital banks hold against mortgages is too low.
Along with a better-than-expected macro environment in August, surplus inflows to the loan market lifted secondary prices and pressured new-issue clearing yields lower.
This was one of the first attempts by a central bank to try out the big new idea of the postcrisis world: macro-prudential regulation.
Communicate results with the entire sales team to generate a macro-view of accomplishments and where there are opportunities for new or different messaging tools.
Of course, that assumes that macro events do not intrude again, driving investors to the sidelines and keeping new-issue loan volume at bay.
Look at it from a macro perspective, and you can follow the jet plumes of a new generation criss-crossing the earth, curious about new cultures near and far.
Meanwhile, the layout on ROCCAT's new keyboard remains completely unchanged, with the same medley of macro keys and thumb-accessible buttons still in attendance.
Our big macro call of the end of the previous cycle and the start of the new cycle from August-October of last year continues to be spot on.
Nevertheless, with improving macro conditions, increasing demand from emerging economies and the introduction of new ultrabooks, convertibles and touch-enabled designs, we forecast the rate of decline in global PC demand to drop in the future.
He also points out that Microsoft and Oracle are trading near trough levels, and both firms have new product cycles set to debut, which may mean upside for investors despite the macro slow-down.
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