Really Wrong.

The Mortgage Bankers Association in America released some grim figures yesterday.  Hence the gloom and doom in the Mortgage Backed Securities markets which occurred the day before the figures were released.  Did someone get a preview?  Bloomberg reported that one in eight Americans are either delinquent on a loan or in the foreclosure process.  The sub-prime crisis has gone prime with prime loan defaults doubling in the past year, and, making up about half of the defaults.  For the gritty details, see figures from the Mortgage Bankers Association here or article on Bloomberg here.

Below is a really disturbing video by Jim the Realtor filmed in San Diego.  Apologies - it is really wrong. (makes sense without sound if you are in an office).

The Bond Market

The Bond Market is on the up and up and is offering good opportunities.  In today's FT, there is an article by James Blitz on MI6 recruitment.  It proclaims that "finance workers could be the next generation of spies".  Indeed.  After a quick jaunt around the MI6 recruitment website it is clear there are plenty of vacancies to apply for.  Missmarketcrash and her geeky librarian instincts hovered on the category of Information Officer.  Childhood career desires danced in her head.  At age eight, it was the career of choice.  And it still holds a certain place in her heart.

Alas.  Missmarketcrash does not have a parent who is a British Citizen, and so, does not qualify. Perhaps it is for the best - I'm certain a blog would be a no-no if Missmc became MissSIS.  MissSIS sounds a bit wrong as well. 

The best part of the website is the virtual tour.  I did not have time to see it all, but, it has a pleasing grey interface and a lovely blond actress will tell you about various internal career coursework, clubs and social networking available for SIS employees.  It sounds a bit like being back in university again and that kind of appeal works for Missmc.  The virtual tour has a button for subtitles should you want to watch it in an inappropriate environment.

Ah well.  If anyone is still here reading rather than off exploring the links above, you are welcome to join me here for a look at the stock futures.  Thus far, it is not the gloom and doom I promised you yesterday, but, the bond market is worth watching carefully.