Archive for August, 2015
Friday, August 28th, 2015
I have been headlining stories about our Northern neighbor this way since I began blogging again in October 2013. I had just retired from TD bank here in New York.
It appears that Bloomberg has a headline writer with the same dry sense of humor as the story I will append ...
Posted in Uncategorized | Comments Off on From the Oh Canada Department
Friday, August 28th, 2015
Via Bloomberg:
WHAT TO WATCH:
* (All times New York)
* Economic Data
* 8:30am: Personal Income, July, est. 0.4% (prior 0.4%)
* Personal Spending, July, est. 0.4% (prior 0.2%)
* Real Personal Spending, July, est. 0.3% (prior 0%)
* PCE Deflator m/m, July, est. 0.1% (prior 0.2%)
* PCE Deflator y/y, July, est. 0.3% (prior 0.3%)
* PCE ...
Posted in Uncategorized | Comments Off on Lots to Watch Today
Friday, August 28th, 2015
Via Bloomberg:
IG CREDIT: Dealer Positions in Corporates Fall, Led by 1Y-3Y
2015-08-28 10:54:31.565 GMT
By Robert Elson
(Bloomberg) -- Dealer positions in corporate bonds fell
$1.6b to $21.7b as of Aug. 19. $21.1b, seen Feb. 11, is the low
for the series Fed began in April 2013. $45.9b, seen March 5,
2014, is the high.
* Investment ...
Posted in Uncategorized | Comments Off on Dealer Positions
Friday, August 28th, 2015
Via Bloomberg:
China Increases Margin Requirements on Stock-Index Futures
2015-08-28 10:47:36.531 GMT
By Bloomberg News
(Bloomberg) -- China increased the margin requirements on
stock-index futures contracts to 30 percent and narrowed the
number of contracts that traders can open before they are
considered “abnormal trading.”
Opening more than 100 contracts on a single index-futures
product on the CSI 300, ...
Posted in Uncategorized | Comments Off on China Increases Margin Requirements
Friday, August 28th, 2015
Via Marc Chandler at Brown Brothers:
Markets Debates Drivers of US Treasuries
- There is growing speculation that China is selling US Treasuries during its FX operations, which is driving up yields in the US; but the reality may be more prosaic
- UK preliminary GDP came in right on expectations at ...
Posted in Uncategorized | Comments Off on FX
Friday, August 28th, 2015
Via Bloomberg:
IG CREDIT: Highest Volume Since June; Spreads Inch Tighter
2015-08-28 09:56:25.213 GMT
By Robert Elson
(Bloomberg) -- Secondary IG trading ended with a Trace
count of $17.6b vs $16.9b Wednesday, $12.6b the previous
Thursday. Yesterday was the highest volume since $18.5b June 2.
* 10-DMA $12.4b; 10-Thursday moving avg $13.7b
* 144a trading added $3b of ...
Posted in Uncategorized | Comments Off on Corporate Bonds
Friday, August 28th, 2015
Via the WSJ:
By Chuin-Wei Yap
Updated Aug. 28, 2015 5:19 a.m. ET
BEIJING—China’s biggest lenders are scrambling to clear rising bad loans from their books, as a faltering economy weighs on loan repayments and sets banks on pace for their worst year since they began listing shares 13 years ago.
The pace of ...
Posted in Uncategorized | Comments Off on Banks in a Bind in China
Friday, August 28th, 2015
Via Kit Juckes at SocGen:
<http://www.sgresearch.com/r/?id=he7f1172,13d48dbb,13d48dbc&p1=136122&p2=d2fdea3e8f164b361ca8a01f764624bb>
Chinese equity prices are up. Oil prices bounced hard yesterday. Calm is back in EMFX. The only sounds are those of shorts being covered and the very geatest of the good are chewing the cud as the ponder the disappearance of the Phillips Curve in their ...
Posted in Uncategorized | Comments Off on Early FX
Friday, August 28th, 2015
Dealers not reporting much thus far about the overnight session. I have heard of real money (Asian based) buyers of Long Bonds. Other Asian based clients sold 2 year and 3 year paper in favor of off the run 10s. Bank portfolios sold spread product in the 10 year sector.
Posted in Uncategorized | Comments Off on Overnight Flow
Thursday, August 27th, 2015
Via the FT:
Canada’s biggest banks have warned of more troubles to come from the fall in the oil price, as they reported surges in bad loans and chilling effects on consumer demand in the world’s 11th-largest economy.
So far the big lenders such as Royal Bank of Canada and Toronto-Dominion Bank ...
Posted in Uncategorized | 2 Comments »