I think this is an impressive development. Probably a one time thing, but should be good and can let people get comfortable with their exposures. I have been looking at the charts of JEF vs MS, there could be a bit of room to run here if they aren’t penalized for being “MF-like”. More importantly, maybe other CEO’s will do similar things at times of uncertainty rather than giving the same canned speech that all is well.
I haven’t looked through the details yet, but I think this is a re-assuring step. And hope it is a sign that financials are more open to scrutiny and transparency and that those that are, get rewarded – assuming the transparency reveals good things. The converse may be that companies that aren’t willing to respond in details to market moving rumors/fears will be punished more because investors think they have things to hide.
Anyways, I like this effort on their part and will follow up with details later.
In meantime, we are still waiting for IIF and EFSF details. So far Cannes seems to be a bust in spite of this rally on back of Greece full of confidence vote.
+——————————————————————————+
BFW 11/04 17:42 Jefferies Discloses All Current Positions in Sovereign Debt
BUS 11/04 17:42 Jefferies Discloses All Current Positions in Sovereign Debt of Portugal, Italy, Ireland, Greece and Spain
BN 11/04 17:52 *CORRECT: JEFFERIES TOTAL LONG POSITION IN COUNTRIES $2.41B
BN 11/04 17:46 *JEFFERIES DISCLOSES POSITIONS IN GIIPS COUNTRIES :JEF US
BN 11/04 17:46 *JEFFERIES SAYS SHORT TOTAL POSITION IN COUNTRIES $2.32B
BN 11/04 17:44 *JEFFERIES TOTAL LONG POSITION IN COUNTRIES $2.41B :JEF US
BN 11/04 17:44 *JEFFERIES TO POST DAY-END, CUSIP LEVEL HOLDINGS LATER TODAY
BN 11/04 17:43 *JEFFERIES POSITION IN PORTUGAL, ITALY, IRELAND, GREECE, SPAIN
BN 11/04 17:43 *JEFFERIES SAYS HAS ‘INSIGNIFICANT’ RISK ON INTEREST RATE CHANGE
BN 11/04 17:42 *JEFFERIES SAYS HAS NO MEANINGFUL CREDIT RISK FROM THESE NATIONS
BN 11/04 17:42 *JEFFERIES SAYS INTEREST-RATE RISK ON POSITIONS IS INSIGNIFICANT
BN 11/04 17:42 *JEFFERIES SAYS DV01 EQUAL TO $37,000 :JEF US
BN 11/04 17:42 *JEFFERIES DISCLOSES ALL CURRENT POSITIONS IN SOVEREIGN DEBT OF
+——————————————————————————+
Jefferies Says Total Position in Countries $2.41b
2011-11-04 17:46:02.13 GMT
By Libby Sallaberry
Nov. 4 (Bloomberg) — Jefferies says total long position in
Italy, Spain, Ireland, Portugal, Greece $2.41b ($2.09b in Italy,
0 in Greece).
Link to Statement:{NSN LU5D603V2802 <GO>}
Link to Company News:{JEF US <Equity> CN <GO>}
For Related News and Information:
First Word scrolling panel: {FIRST<GO>}
First Word newswire: {NH BFW<GO>}
To contact the editor responsible for this story:
Libby Sallaberry at +1-212-617-8044 or
lsallaberry@bloomberg.net
