Comments on: Credit default swaps: are we seeing a black swan? http://www.dinocrat.com/archives/2008/10/10/are-we-seeing-a-black-swan/ Thu, 09 Feb 2012 11:49:05 +0000 hourly 1 http://wordpress.org/?v=3.1.3 By: canucklehead http://www.dinocrat.com/archives/2008/10/10/are-we-seeing-a-black-swan/#comment-314194 canucklehead Fri, 10 Oct 2008 12:37:56 +0000 http://www.dinocrat.com/?p=6845#comment-314194 Yesterday, the Canadian banking industry reset their respective mortgage rates. The coordinated central bank rate drop of 0.50% was not passed on to consumers. In actual fact, many mortgage rates were increased significantly. I suspect mortgage requirements have been greatly tightened. Don't expect another central bank rate drop to start consumer spending. Is the banking industry preparing to batten down the hatches or they are preparing for "asset inflation" via helicopter delivery methods? Where do we go from here? Who knows. That alone should say we are near a bottom. I suspect in 6 months we should have navigated to somewhat better times. Yesterday, the Canadian banking industry reset their respective mortgage rates. The coordinated central bank rate drop of 0.50% was not passed on to consumers. In actual fact, many mortgage rates were increased significantly. I suspect mortgage requirements have been greatly tightened. Don’t expect another central bank rate drop to start consumer spending. Is the banking industry preparing to batten down the hatches or they are preparing for “asset inflation” via helicopter delivery methods?

Where do we go from here? Who knows. That alone should say we are near a bottom. I suspect in 6 months we should have navigated to somewhat better times.

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