Archive for May, 2016

FX

Tuesday, May 31st, 2016

Via Marc Chandler at Brown Brothers Harriman: Sterling Slips and Aussie Pops as Investors Await Fresh Insight into Fed Trajectory The latest ORB poll confirmed reports that the Brexit vote is much tighter than some of the recent polls suggest Australia reported stronger than expected exports for Q1 Eurozone economic ...

Oil Price Forecasts Rising

Tuesday, May 31st, 2016

Via WSJ: By Georgi Kantchev May 30, 2016 1 COMMENTS Analysts are once again raising their oil price forecasts, in a reflection of falling concerns over the glut in crude supply. That takes pressure off members of the Organization of the Petroleum Exporting Countries as they meet on Thursday, following months of fervent debate over ...

Some Corporate Bond Stuff

Tuesday, May 31st, 2016

Via Bloomberg: IG CREDIT: Trading Volume Falls to Lowest Level of the Year 2016-05-31 09:40:00.939 GMT By Robert Elson (Bloomberg) -- Secondary IG trading ended with a Trace count of $5.3b Friday vs $17.2b Thursday, $11.9b the previous Friday. IG trading lowest since $2.1b on Dec. 31, 2015. * 10-DMA $14.4b; 10-Friday moving avg $12.6b * 144a trading ...

Worst Month Ever for Steel Futures in China

Tuesday, May 31st, 2016

Via Reuters: Chinese steel and iron ore futures posted their sharpest monthly falls on record in May on weaker seasonal demand, with the industrial raw materials expected to face more pain in June due to rising steel supply in the world's top producer. May's decline follows a spectacular December to April rally ...

Credit Pipeline

Tuesday, May 31st, 2016

Via Bloomberg: IG CREDIT PIPELINE: Record $200b Month Is in Reach 2016-05-31 09:20:12.689 GMT By Robert Elson (Bloomberg) -- A record $192.4b has priced this month with today still possible to add further deals. If the U.S. follows the 12-deal London lead, it’s all but certain. LATEST UPDATES * Bayer (BAYNGR) A3/A-, may be close to picking banks ...

FX

Tuesday, May 31st, 2016

Via Kit Juckes at SocGen: <http://www.sgmarkets.com/r/?id=h109e977c,17273e9b,17273e9c&p1=136122&p2=e583a74a7bb5c34355b75d418d818c68> Welcome to the last day of May. ‘Flaming' June comes next  - though the weather is a reminder we have to get this month out of the way before embarking on a new one. And I don't think it's that surprising that the dollar, which is ...

Europe’s Inflation Remains Below Target

Tuesday, May 31st, 2016

Via Bloomberg: May 31, 2016 — 5:00 AM EDT   Euro-area consumer prices failed to increase for a fourth consecutive month, highlighting policy makers’ struggle to stoke inflation despite multiple rounds of stimulus. Prices fell 0.1 percent in May from a year earlier, the European Union’s statistics office in Luxembourg said on Tuesday. That’s ...

Strange Trading in Equity Futures in China

Tuesday, May 31st, 2016

Via Bloomberg: May 30, 2016 — 11:43 PM EDT Updated on May 31, 2016 — 4:05 AM EDT   Chinese stock-index futures plunged by the daily limit before snapping back in less than a minute, the second sudden swing to rattle traders this month. Contracts on the CSI 300 Index dropped as much as 10 ...

Slowing China Economy Impacts Neighbors

Monday, May 30th, 2016

Via Bloomberg: May 30, 2016 — 5:00 PM EDT Those nearest to China are among the hardest hit as growth in the world's second-largest economy grinds to the slowest pace in a quarter century. Hong Kong, Macau, and Taiwan all saw their economies shrink in the first quarter, while Mongolia's commodities-fueled boom has ...

Bears Target Chinese Equities

Monday, May 30th, 2016

Via Bloomberg: Short interest in CSOP FTSE China A50 ETF is highest in a year Yuan is heading for its biggest monthly drop since August Chinese equities are once again in the cross hairs of short sellers. Short interest in one of the largest Hong Kong exchange-traded funds tracking domestic Chinese stocks ...