Archive for the ‘Uncategorized’ Category

Ghost of Lehman Brothers

Thursday, September 29th, 2016

Via WSJ: The Ghost of Lehman Brothers Haunts Deutsche Bank But parallels to failed investment bank are misleading By JAMES MACKINTOSH Sept. 29, 2016 8:04 p.m. ET 0 COMMENTS Eight years ago this month, Lehman Brothers failed in large part due to panicked hedge funds pulling their money. With some big hedge funds worried enough to ...

Yellen on Asset Purcchases

Thursday, September 29th, 2016

Via Bloomberg: Yellen: May Be Benefits, Costs to Fed Buying Stocks/Corp Bonds 2016-09-29 20:27:08.873 GMT By Vivien Lou Chen (Bloomberg) -- Fed Chair Janet Yellen says there could be benefits to Fed buying equities or corporate bonds, yet would also likely be costs that have to be considered. * Idea of expanding into areas like equities might ...

Impaired Liquidity

Monday, September 26th, 2016

Via Bloomberg: Carney's Corporate-Bond Purchases May Worsen Liquidity Squeeze Joe Mayes Joe_Mayes September 26, 2016 — 6:05 AM EDT Central bank aims to acquire 10 billion pounds of company debt Buying may tighten shortage of notes in small sterling market   The start of the Bank of England’s corporate-bond buying program on Tuesday may exacerbate already tight liquidity ...

Central Banks Turn to Sellers

Monday, September 26th, 2016

Via Bloomberg: Liz McCormick mccormickliz Andrea Wong MsAndreaWong Wes Goodman richwesgoodman September 25, 2016 — 7:00 PM EDT Updated on September 26, 2016 — 4:04 AM EDT Central banks have cut Treasuries for three straight quarters Pullback may be a sign the bond market is at a tipping point   They’ve long been one of the most reliable sources of demand for ...

FX

Monday, September 26th, 2016

Via Marc Chandler at Brown Brothers Harriman: Drivers for the Week Ahead The first US Presidential debate is a wild card, in the sense that the outcome is unknown The weekend elections in Spain's Basque country and Galicia may resolve the nine-month deadlock in Spain's national politics The OPEC ...

Some Corporate Bond Stuff

Monday, September 26th, 2016

Via Bloomberg: IG CREDIT: Shire, Gilead 10Y, 30Y Top Most Active List 2016-09-26 09:44:37.531 GMT By Robert Elson (Bloomberg) -- Secondary IG trading ended with a Trace count of $13.3b Friday vs $18.5b Thursday, $12b last Friday. 10- DMA $15.5b; 10-Friday moving avg $11.3b. * 144a trading added $2.9b of IG volume Friday vs $2.7b on Thursday, $1.8b ...

Travails at DeutscheBank Weigh on Equity markets

Monday, September 26th, 2016

Via Bloomberg: Jan-Henrik Foerster JanFoe September 26, 2016 — 3:18 AM EDT Updated on September 26, 2016 — 4:52 AM EDT Short sellers renew wagers as price of convertible debt drops U.S. seeking $14 billion to resolve mortgage securities probe   Deutsche Bank AG shares dropped to a record low amid concerns that mounting legal bills, including a ...

Credit Pipeline

Monday, September 26th, 2016

Via Bloomberg: IG CREDIT PIPELINE: GAIF, ICBCIL to Price, SUMIBK Added 2016-09-26 09:23:28.443 GMT By Robert Elson (Bloomberg) -- Set to price today: * Goodman Australia (GAIF) Baa1/BBB+, to price $bench 144a/Reg-S 10Y, via ANZ/HSBC/JPM; IPT +215 area * ICBC Finance (ICBCIL) A2/A, to price 2-part 144a/Reg-S deal, via C/BNP/BoC/GS/ICBC/JPM/ShangPudong * 3Y, IPT +155 area * 5Y, IPT +160 area LATEST ...

Early FX

Monday, September 26th, 2016

Via Kit Juckes at SocGen: <http://www.sgmarkets.com/r/?id=h116737ba,186bf519,186bf51a&p1=136122&p2=1c01c13927dbd462219ca78348e70c0b> I knew this was going to be a long day when , rushing out of the house late, the first thing I heard on the radio was the shipping forecast, which is on at 5:30 (not 6:30, doh!), but I was rewarded with a spectacular red ...

Threat to Yuan in China Housing Boom

Sunday, September 25th, 2016

Via Bloomberg: China's Runaway Housing Market Poses Latest Challenge for Yuan Bloomberg News September 25, 2016 — 7:34 PM EDT Here's the latest uncertainty facing China's currency: sky high house prices. A runaway boom in the largest cities will push investors to look for cheaper alternatives overseas, draining money out of China and putting downward ...