Links: Pimco, Russia, TED, Broker/Dealers, etc.

Some quick links to things others may find interesting:

  • Bill Gross’s Total Return Fund has a done a roundtrip: Made 1.3% on FRE/FNM trade, and lost 1.4% on AIG trade (Bloomberg)
  • Russian market crisis mounts, with markets closed for second day (Bloomberg)
  • The last gasp of the broker/dealer model: Goldman becomes hedge fund, Morgan Stanley goes bank-owned sell side? (FT)
  • The TED spread (a measure of willingness to lend) is touching it’s all-time highs (Bloomberg)
  • In the midst of this current credit crisis, credit cards just turned fifty years old (WSJ)
  • Fantastic new set of photos from North Korea (Boston Globe)