Archive for the ‘Uncategorized’ Category
Friday, March 3rd, 2017
Via Bloomberg:
IG CREDIT PIPELINE: A Dollop of MS to Top off ~$56b Week
2017-03-03 10:57:15.569 GMT
By Robert Elson
(Bloomberg) -- Friday sessions YTD have not followed the
2016 mode of being live for issuance. Not clear that the MS re-
opening will be the start of a return to the new normal. Last
year even ...
Posted in Uncategorized | Comments Off on Credit Pipeline
Friday, March 3rd, 2017
Via Bloomberg:
Macron Overtakes Le Pen in France as Juppe Looms Over Fillon Bid
2017-03-03 11:31:49.221 GMT
By Mark Deen and Gregory Viscusi
(Bloomberg) -- Emmanuel Macron overtook the anti-euro
candidate Marine Le Pen for the first time in polling for the
French presidential election as the clamor grew for Republican
Francois Fillon to step aside.
Macron’s support ...
Posted in Uncategorized | Comments Off on French Polling
Friday, March 3rd, 2017
Via Marc Chandler at Brown Brothers Harriman:
Yellen and Jobs Report Last Two Hurdles to US Hike
The US dollar is narrowly mixed as Yellen's speech in Chicago is awaited
The failure of the Fed to raise rates in March would be potentially more destabilizing than raising rates
Japan reported a ...
Posted in Uncategorized | Comments Off on FX
Thursday, March 2nd, 2017
This is an interesting (at least to me) article from Bloomberg on the possibility that the confluence of huge shorts and an equivocating Ms Yellen might lead to a sharp turn around in bond prices.
Via Bloomberg:
You Should Be Nervous About Janet Yellen’s Speech: Macro View
2017-03-02 20:11:30.972 GMT
By Vincent Cignarella
(Bloomberg) -- ...
Posted in Uncategorized | Comments Off on Will Janet Panic the Shorts
Tuesday, February 28th, 2017
Via Stephen Stanley at Amherst Pierpont Securities:
Real GDP in Q4 was slightly weaker than expected, coming in unrevised at 1.9%. The shortfall relative to my expectations reflects the old saying “a few billion here and a few billion there, and pretty soon it adds up to real money.” There were ...
Posted in Uncategorized | Comments Off on Data Dissection
Monday, February 27th, 2017
Via Stephen Stanley at Amherst Pierpont Securities:
rable goods orders in January were not far from expectations. The January changes were a bit weaker than projected, but there were upward revisions to December that were largely offsetting. Given how volatile this dataset typically is, the January report is close enough to ...
Posted in Uncategorized | Comments Off on Durable Goods
Monday, February 27th, 2017
Via a fully paid up subscriber:
Bloomberg Barclays duration extension estimates as of Feb. 23 are unchanged from Feb. 15 estimates:
• U.S. Treasury: 0.11yrs
• U.S. Agency: 0.08yrs
• U.S. Credit: 0.07yrs
• U.S. Govt/Credit: 0.10yrs
• U.S. MBS: 0.09yrs
• U.S. Aggregate: 0.09yrs
• U.S. High Yield: 0.07yrs
Posted in Uncategorized | Comments Off on Index Extension
Tuesday, February 21st, 2017
Via Bloomberg:
IG CREDIT: Lowest Volume Since Jan. vs Huge Volume Prior 3 Days
2017-02-21 11:15:49.518 GMT
By Robert Elson
(Bloomberg) -- Secondary IG trading ended with a Trace
count of $13.5b Friday vs $24b Thursday, $18.2b last Friday. It
was the lowest volume session since $12.8b Jan. 3.
* 10-DMA $19.9b; 10-Friday moving avg $13.2b
* 144a ...
Posted in Uncategorized | Comments Off on Overnight Credit Trading
Tuesday, February 21st, 2017
Via Bloomberg:
IG CREDIT PIPELINE: 2 to Price, Adds/Updates PH, TXN, MOS, MCY
2017-02-21 10:53:05.763 GMT
By Robert Elson
(Bloomberg) -- 2 Yankee deals came forward overnight and
are set to price today. Domestic names are expected to be added
to the mix as 86% of dealers, in a Bloomberg News survey, look
for at least $15b-$20b ...
Posted in Uncategorized | Comments Off on Credit Pipeline
Tuesday, February 21st, 2017
An excerpt from morning note by Marc Chandler of Brown Brothers Harriman:
The 10-year French premium over Germany has widened to 80 bp, the most since August 2012. It has risen nearly 14 bp since the middle of last week. The two-year spread is also widening. It is at 44 bp ...
Posted in Uncategorized | Comments Off on Spread Widening