Archive for June, 2015

Greece headlines

Tuesday, June 30th, 2015

Via Bloomberg: BFW 06/30 13:33 Greece Asks for 2-Yr Bailout Program From ESM: PM’s Office BN 06/30 13:30 Greece Asks for 2-Year Bailout Program From ESM: PM’s Office BFW 06/30 13:30 *GREEK GOVT WILL SEEK VIABLE AGREEMENT WITHIN EURO: PM'S OFFICE BFW 06/30 13:30 *GREECE ASKS FOR FINANCING, DEBT RESTRUCTURING: PM'S OFFICE BFW 06/30 13:28 ...

Home price Appreciation

Tuesday, June 30th, 2015

Via Millan Mullraine at TDSecurities: US home prices rose in April at its slowest pace in 8 months, gaining 0.3% m/m following the upwardly revised 1.0% m/m advance the month before. This was a weaker pace of home price appreciation than the 0.8% m/m rise expected by the markets, though it ...

Overnight Flows

Tuesday, June 30th, 2015

Central banks selling 4 year sector to buy 7s through 10s. Central bank buyers of 5s. Central bank sellers of 3s.

What to Watch Today

Tuesday, June 30th, 2015

Via Bloomberg: WHAT TO WATCH: * (All times New York) * Economic Data * 9:00am: ISM Milwaukee, June (prior 47.7) * 9:00am: S&P/Case-Shiller 20-City m/m, April, est. 0.8% (prior 0.95%) * S&P/CS 20-City y/y, April, est. 5.5% (prior 5.04%) * S&P/CS 20-City Index NSA, April (prior 175.2) * S&P/CS U.S. HPI m/m, April (prior 0.12%) * S&P/CS U.S. HPI y/y, ...

FX

Tuesday, June 30th, 2015

Via Marc Chandler at Brown Brothers Harriman: The markets remain off-kilter.  The dollar has recouped a little of the ground lost yesterday.   Reports in a Greek paper that Tsipras may be reconsidering Juncker's proposal may prevent a deeper pullback in the euro, which found a bid near $1.1135 after approaching ...

Puerto Rico

Tuesday, June 30th, 2015

I will confess that I only followed the Puerto Rico story tangentially yesterday. However that story was not a tangent to people in that market place as there was real carnage in bonds issued by Puerto Rico. Here is an excerpt from a note I recived this AM from a ...

Secondary market Corporate Bond trading yesterday

Tuesday, June 30th, 2015

Via Bloomberg: IG CREDIT: Lowest Monday Session Since April; Spreads Widen 2015-06-30 09:51:26.289 GMT By Robert Elson (Bloomberg) -- Secondary IG trading ended with a Trace count of $10.8b vs $9.5b Friday, $11.8b the previous Monday. It was the lowest volume Monday session since $9b April 6. * 10-DMA $13.1b; 10-Monday moving avg $12.1b. * 144a trading added ...

Midnight Deadline

Tuesday, June 30th, 2015

Ed Conway (@EdConwaySky) reports that EU creditors have given Greece until midnight to reconsider creditors proposals. Via Ed Conway at Sky News; Ed Conway ‏@EdConwaySky 4m4 minutes ago My EU sources say Greece has until midnight to reconsider rejecting the creditors' proposals for a bail-out extension

New Talks

Tuesday, June 30th, 2015

A Greek newspaper reports new negotiations between Greece and its creditors. According to the Greek Reporter the negotiations would result in a promise by European creditors to restructure Greek debt. Via the Greek Reporter: Greece and its creditors are reportedly working on a yet new last-minute bailout deal ahead of a $1,8 ...

Regarding Greek Default

Tuesday, June 30th, 2015

A fully paid up subscriber forwarded this to me at about 406AM (about 90 minutes ago). I do not know the source as he did not identify from whom he received it: BONDS: German government bonds are trading higher early Tuesday, again boosted by safe-haven buying as markets weigh up the ...