Archive for the ‘Uncategorized’ Category
Thursday, November 17th, 2016
Ian Lyngen and Aaron Kohli of BMO Capital Markets produce an informative piece each morning on the fixed income markets. I have excerpted from today's piece thier comments on today auction of 10 year TIPS:
The 10yr TIPS reopening also looms large on Thursday and though we’re not particularly enthused ...
Posted in Uncategorized | Comments Off on Ten Year Tips Auction Today
Thursday, November 17th, 2016
Via Barron's:
Ahead of the Crowd
What to Do With a Stock Up 1,000% in One Week?
DryShips is a prime example of what can happen when investors let politics get ahead of fundamentals.
By
Jack Hough
Nov. 16, 2016 3:11 p.m. ET
Careful with those Trump trades.
DryShips shares (ticker: DRYS) have been halted after they closed ...
Posted in Uncategorized | Comments Off on Tulip Mania
Thursday, November 17th, 2016
Via Bloomberg:
CREDIT MORNING CALL: Expect the Biggest Issuance in a Month
2016-11-17 11:53:30.775 GMT
By Robert Elson
(Bloomberg) -- Expectations surrounding a hefty Abbott M&A-
deal leave the market thinking today may be the largest session
since October 19, Bloomberg strategist Robert Elson writes. That
day saw Saudi Arabia pricing $17.5b with WFC, MS, UPS, MDLZ
bringing ...
Posted in Uncategorized | Comments Off on Hey Abbot
Thursday, November 17th, 2016
Via Bloomberg:
November 16, 2016 — 6:42 PM EST Updated on November 17, 2016 — 6:14 AM EST
U.S. selling $11 billion of 10-year inflation-linked debt
TIPS returns in 2016 more than double regular Treasuries
The roster of firms lining up to recommend Treasury Inflation Protected Securities before a sale ...
Posted in Uncategorized | Comments Off on Big Firms Hype TIPS
Thursday, November 17th, 2016
Via Marc Chandler at Brown Brothers Harriman:
Consolidation Gives Dollar Heavier Tone
The US dollar is trading with a heavier bias today as its recent run is consolidated
The UK reported a huge jump in retail sales; Australia reported October jobs data overnight
The US data calendar features the October ...
Posted in Uncategorized | Comments Off on FX
Thursday, November 17th, 2016
In overnight trading the BOJ action to stem the rise in yields was the highlight. The central bank intervened and promised to buy both 2 year and 5 year bonds. Dealers report that in overnight trading yen funded buyers were better buyers of 5 year through 30 year sectors.
In the ...
Posted in Uncategorized | Comments Off on Treasury Market Musings
Thursday, November 17th, 2016
Via Bloomberg:
IG CREDIT: Volume Remains High; Issuance Will Be Focus Today
2016-11-17 10:41:48.24 GMT
By Robert Elson
(Bloomberg) -- Secondary IG trading ended with a Trace
count of $19.2b vs $20.3b Tuesday, $20.2b last Wednesday.
* 14th highest of any Wednesday since Nov. 2005 when TRACE
volume count began
* Tuesday’s $20.3b was 5th highest Tuesday on ...
Posted in Uncategorized | Comments Off on Credit Pipeline
Thursday, November 17th, 2016
Via Bloomberg:
IG CREDIT: Volume Remains High; Issuance Will Be Focus Today
2016-11-17 10:41:48.24 GMT
By Robert Elson
(Bloomberg) -- Secondary IG trading ended with a Trace
count of $19.2b vs $20.3b Tuesday, $20.2b last Wednesday.
* 14th highest of any Wednesday since Nov. 2005 when TRACE
volume count began
* Tuesday’s $20.3b was 5th highest Tuesday on ...
Posted in Uncategorized | Comments Off on Some Corporate Bond Stuff
Thursday, November 17th, 2016
Via Bloomberg:
Benchmark yields had climbed at fastest pace since August
10-year touched 0.035%, the first time since mid-February
The Bank of Japan fired a warning shot at the government bond market Thursday, announcing its first offer to buy an unlimited amount of securities to maintain its yield-curve target.
The so-called fixed-rate operation ...
Posted in Uncategorized | Comments Off on BOJ Fires Warning Shot at Bond Bears
Wednesday, November 16th, 2016
Via Bloomberg:
Trump Allies Urge Fed to Cut Balance Sheet and Revive Credit (1)
2016-11-16 12:27:08.216 GMT
By Rich Miller
(Bloomberg) -- Bond investors may have another reason to
worry after Donald Trump’s election last week: Some of his
allies are not fans of the Federal Reserve’s big balance sheet
of bonds and want the central bank ...
Posted in Uncategorized | Comments Off on Trump Advisers Favor Shrinking Fed Balance Sheet