Archive for the ‘Uncategorized’ Category
Wednesday, April 5th, 2017
Via Bloomberg:
Ratings Shopping Haunts Commercial Mortgage Bonds as Risks Rise
2017-04-05 10:00:01.0 GMT
By Matt Scully and Adam Tempkin
(Bloomberg) -- Only a decade ago, global investors got a
hard lesson about the dangers of relying on rosy bond ratings.
Now they’re getting a reminder -- this time in frothy corners of
the $528 billion U.S. ...
Posted in Uncategorized | Comments Off on Commercial Mortgages at Risk
Wednesday, April 5th, 2017
Via Marc Chandler at Brown Brothers Harriman:
Dollar Mixed on Hump Day
The US reports weekly mortgage applications, ADP employment, Markit services and composite PMI readings, and the ISM non-manufacturing PMI
FOMC minutes will be released
Eurozone and UK services and composite PMIs were reported
Polls suggest that Le Pen fared ...
Posted in Uncategorized | Comments Off on FX
Tuesday, April 4th, 2017
Via Marc Chandler at Brown Brothers Harriman:
US PMI report yesterday certainly supports the notion that price pressures are rising and the labor market is tightening
During the North American session, the US reports February trade and factory orders
RBA kept policy steady overnight, as expected; its statement was ...
Posted in Uncategorized | Comments Off on FX
Tuesday, April 4th, 2017
Via Bloomberg:
Lowest IG Trading Volume in 6 Weeks; Spreads Steady
2017-04-04 09:55:47.330 GMT
By Robert Elson
(Bloomberg) -- Secondary IG trading ended with a Trace
count of $13.5b vs $19.5b Friday, $13.9b last Monday. It was the
lowest trading volume since $13.46b on Feb. 17.
* 10-DMA $17.7b; 10-Monday moving avg $16.3b
* 144a trading added $2b ...
Posted in Uncategorized | Comments Off on Corporate Bond Stuff
Tuesday, April 4th, 2017
Via Bloomberg:
IG CREDIT PIPELINE: GMKNR to Price; Glaxo Files, SANTAN Mandate
2017-04-04 09:39:20.133 GMT
By Robert Elson
(Bloomberg) -- Monday saw a lackluster start to the week
with 5 deals totaling $2.75b. Today should be better, moving
toward the $15b-$20b expected to price this week.
Set to price today:
* Norilsk Nickel (GMKNR) Ba1/BBB-, to price $benchmark
144a/Reg-s ...
Posted in Uncategorized | Comments Off on Credit Pipeline
Monday, March 27th, 2017
Via Bloomberg:
IG CREDIT PIPELINE: KEB to Price, Solid Issuance Week Expected
2017-03-27 09:33:48.225 GMT
By Robert Elson
(Bloomberg) -- 84% of dealers and clients in a Bloomberg
News poll expect IG issuance to total at least $20b this week.
50% think it will be over $25b; 16% over $30b. At least 2
industrial deals were held ...
Posted in Uncategorized | Comments Off on Credit Pipeline
Monday, March 27th, 2017
Via Marc Chandler at Brown Brothers Harriman:
Macro Drivers as Q1 Winds Down
Trump's economic agenda is called into question following the inability to replace the national health care
The eurozone may report the first slowing in headline CPI in seven months. Core CPI languishes a little above the 0.6% trough
...
Posted in Uncategorized | Comments Off on FX
Tuesday, March 21st, 2017
This is an interesting (to me) bit of commentary from ian Lyngen and Aaron Kohli at RBC. This is a amll excerpt from their end of day note:
The other big move on the day was the failed attempt by breakevens to improve and the fact that almost all major breakeven ...
Posted in Uncategorized | Comments Off on TIPS Commentary
Tuesday, March 21st, 2017
Via Bloomberg:
PBOC Said to Inject Liquidity After Interbank Payments Missed
2017-03-21 10:33:19.211 GMT
By Bloomberg News
(Bloomberg) -- China’s central bank injected hundreds of
billions of yuan into the financial system after some smaller
lenders failed to repay borrowings in the interbank market,
according to people familiar with the matter.
Tuesday’s injections followed missed interbank payments on
Monday, ...
Posted in Uncategorized | Comments Off on Liquidity Issues in China?
Monday, March 20th, 2017
Via Marc Chandler at Brown Brothers Harriman;
Drivers for the Week Ahead
Recent developments have given rise to doubts over the divergence theme, which we suggested have shaped the investment climate
The G20 statement diluted the commitment to avoid protectionist trade measures
Both German members on the ECB talk in ...
Posted in Uncategorized | Comments Off on FX