Archive for July, 2009

Bond Market Open July 31 2009

Friday, July 31st, 2009

Prices of Treasury coupon securities posted modest losses in overnight trading as participants await a flood of data today with most honed in on the first peek at Q2 GDP. The yield on the 2 year note has climbed 2 basis points to 1.18 percent. The yield on the 3 year ...

What If They Ran Health Care

Thursday, July 30th, 2009

Just a thought..........but if they cant run this enterprise what will it be like when the bureaucrats have a larger share of the health care pie?

Bond Market Close July 30 2009

Thursday, July 30th, 2009

Prices of Treasury coupon securities (for the most part ) posted gains today and the longer the maturity of the issue the greater were the gains. The yield on the 2 year note increased a solitary basis point to 1.17 percent. The yield on the 3 year note was unchanged at ...

MBS and VOL and Swaps

Thursday, July 30th, 2009

Swap spreads are wider in each bucket. Two year spreads are 2 basis points wider at 37. Five year spreads are 1 1/2 basis points wider at 36 3/4. Ten year spreads are 3/4 basis points wider at 24 3/4. Thirty year spreads are less inverted by 2 3/4 basis ...

Corporate Bonds

Thursday, July 30th, 2009

Corporate bonds are screaming tighter today. Across the board, paper is 10 basis points to 20 basis points tighter. Salespersons report that if you hold quality paper and you show an offering ,then you are likely to get lifted. One salesman noted that over the past two days GE paper and ...

Personal Trade

Thursday, July 30th, 2009

I was long 1000 LQD at $ 101.30. I just liquidated the position at $103.15. i bought it as an "investment' on July 21. i will give my corporate bond report in a moment but it seems like spreads are running too far and too fast. And no one ever got fired ...

Fix Or Repair Daily

Thursday, July 30th, 2009

Ford Motor Credit Co 1.75 bln 3 yr FXD launched price Coupon 7.50% guidance 10.875% OID 91.589

Seven Year : Not an Itch But A Soothing Massage

Thursday, July 30th, 2009

The treasury successfully auctioned $ 28 billion 7 year notes at a yield of 3.369 percent. That was 3 basis points expensive to levels which prevailed in the market at bidding time. So, whereas yesterday there was a 5 basis point tail in which the auction yield was 5 basis ...

Seven Year Itch

Thursday, July 30th, 2009

Predicting the results of the auctions is normally rather prosaic and pedestrian but this week it is a particularly perilous enterprise. The first two auctions have surprised prognosticators with weak demand and tails. This issue , as was the 5 year note and to a lesser extent the 2 year note ...

Ford Price Talk

Thursday, July 30th, 2009

Someone just informed me that the price talk for Ford is 11 1/2 percent plus or minus 1/8.