Archive for March, 2016
Tuesday, March 29th, 2016
Via TDSecurities:
US: Yellen Sticks to Dovish Script
· In her first appearance since the post-FOMC press conference Yellen doubled down on the recent dovish tone, reiterating the case for caution.
· In justifying the more cautious monetary policy stance, Yellen emphasized the heightened uncertainty about the US growth and inflation outlook and ...
Posted in Uncategorized | Comments Off on Yellen Speech
Tuesday, March 29th, 2016
Via Robert Sinche at Amherst pierpont Securities:
CHINA: MNI will release its Consumer Sentiment index for March, not a widely followed index, but it did fall sharply in February to 11.3, not far above the record low 109.7 reached last October.
JAPAN: The Bberg consensus expects Industrial production for February to fall ...
Posted in Uncategorized | Comments Off on Overnight Data Preview
Tuesday, March 29th, 2016
Via Stephen Stanley at Amherst Pierpont Securities:
Fed Chair Yellen delivers a luncheon speech to the New York Economic Club today. The luncheon begins at 11:30 but the actual start of her speech is set at 12:20. Her speech is entitled “Economic Outlook and Monetary Policy” so there’s not much chance ...
Posted in Uncategorized | 1 Comment »
Tuesday, March 29th, 2016
Via Ian Lyngen at CRT Capital:
We are apprehensive about the takedown of this afternoon's 5-year auction given the sector has recently seen weak receptions and the proximity to Yellen's speech and Q&A will limit the auction set-up. The absence of an outright concession is also troubling. The potential today is ...
Posted in Uncategorized | Comments Off on Five Year Note Auction
Tuesday, March 29th, 2016
Via Marc Chandler at Brown Brothers Harriman:
Dollar Mixed Ahead of Yellen Speech
Yellen’s speech to the NY Economics Club is the main focus
Japan reported mixed data overnight
Brazil’s PMDB holds a national board meeting to decide if it will formally remain coalition partners with the ruling PT
The dollar is mixed against the ...
Posted in Uncategorized | Comments Off on FX
Tuesday, March 29th, 2016
Via Bloomberg:
WHAT TO WATCH:
* (All times New York)
* Economic Data
* 9:00am: S&P/Case-Shiller Composite-20 y/y NSA, Jan.,
est. 5.75% (prior 5.74%)
* S&P/Case-Shiller 20 City m/m SA, Jan., est. 0.7%
(prior 0.8%)
* S&P/Case-Shiller US HPI m/m Jan. (prior 0.78%)
* S&P/CS US HPI y/y NSA, Jan. (prior 5.43%)
* S&P/CS 20-City Index NSA, Jan., est. 182.74 ...
Posted in Uncategorized | Comments Off on What to Watch Today
Tuesday, March 29th, 2016
Via Bloomberg:
RATES: A Few Longs and Shorts Move to Neutral in JPM Survey 07:16
The JPMorgan Treasury Client Survey for the week ended March 28 vs week ended March 21.
• Longs 18 vs 21
• Neutrals 64 vs 60
• Shorts 18 vs 19
• Net longs 0 vs 2
• “The all clients survey ...
Posted in Uncategorized | Comments Off on JPMorgan Duration Survey
Tuesday, March 29th, 2016
Via Kit Juckes at SocGen:
<http://www.sgmarkets.com/r/?id=h1025c8d8,16674862,16674863&p1=136122&p2=71daaf58ebf1eb978bffd6dfc23bdcd5>
My children are languishing in bed on a quite shockingly beautiful Alpine morning. Global news is still dominated by terrorism, but March has been risk-friendly the dollar and yen at the bottom of the FX heap. 'Stuff-with-yield' has done better.
Position data offer at best an incomplete ...
Posted in Uncategorized | Comments Off on Early FX
Monday, March 28th, 2016
Via Millan Mulraine at TDSecurities:
Today at 9:23 AM
US: Personal Consumption and Inflation on Weak Side
· Core PCE rose at a fairly subdued 0.1% m/m pace in February, keeping the annual pace of core PCE inflation unchanged at 1.7% y/y.
· Spending performance was also weak, and despite the better than expected ...
Posted in Uncategorized | Comments Off on Consumption and Income
Monday, March 28th, 2016
Via Ian Lyngen at CRT Capital:
Today at 10:11 AM
The 2-year sector is trading slightly higher this morning and failing to price in an outright concession, although it is underperforming on the curve - so offering a modest accommodation. We're optimistic about this afternoon's auction given broader risk-asset profile and the ...
Posted in Uncategorized | Comments Off on Two Year Note Auction