Archive for February, 2008
Thursday, February 28th, 2008
Prices of Treasury coupon securities surged higher today powered by a variety of economic factors which together reminded market participants of the wit and wisdom contained in the musings of Lawrence Berra aka Yogi Berra who donned the tools of ignorance for the Bronx Bombers during the glory years of ...
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Thursday, February 28th, 2008
The current Fed chairman lacks the obscufatory DNA required of someone who holds his position .Or maybe the headline writer at Bloomberg is short some SPY. Bloomberg quotes him as saying that there will be some bank failures and that caused stocks to crater and bonds to jump.
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Thursday, February 28th, 2008
Corporate bond spreads are trading wider by 5 basis points to 10 basis points wider as the mini euphoria in evidence yesterday has evaporated. Bank and finance paper has taken the biggest hit.Citibank brought a mega sized 30 year deal at T+230 basis points and the bid today is +240 ...
Posted in Uncategorized | Comments Off on Miscellany
Thursday, February 28th, 2008
The weekly jobless claims report was less than festive as claims jumped to 373K (consensus 350K) from 349K in the prior week.The four week moving average declined to 360.5K from 361.75K as the 378k print in late January dropped out of the calculation. The 373K of new filers is troublesome ...
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Thursday, February 28th, 2008
Some overnight flows:
Hot money buys 10yr vs 2yr.
Mixed flows in 2year note with banks buying and prop traders selling.
Bank buyer of bonds against belly of curve.
End user seller of bonds.
Solid receiving in 5 year swaps.
JJJ
Posted in Uncategorized | Comments Off on Overnight Activity
Thursday, February 28th, 2008
I missed this article earlier but Norway rains on the structured product parade.
And an excellent piece on monetary policy from Economist's View.
Mr Paulson takes a hard line.
A scathing attack on the populist predelictions of putative Presidential nominee ,Senator Obama, by two UK economists.
The Times examines ADIA.
Posted in Uncategorized | Comments Off on Some Links
Thursday, February 28th, 2008
Here at the nexus of the Across the Curve universe we (and that is the royal we as I fly practically solo) are experiencing some technical difficulties and apologize for the cramped presentation of the previous post. I hope to correct the problem today.
Thanks.
JJJ
Posted in Uncategorized | Comments Off on Technical Issue
Thursday, February 28th, 2008
Prices of Treasury coupon securities registered solid gains in overnight trading as the perception that rate cutting by the Federal Reserve would have limited ability to quickly end the credit crisis motivated buyers. European equity markets are generally lower by about 1 percent and that has drawn some to the safety ...
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Wednesday, February 27th, 2008
Prices of Treasury coupon securities have posted mixed results on a day in which the Treasury market played second fiddle to resurgent markets for spread product. The 2 yield on the 2year note declined by a basis point to 1.99 percent and the yield on the 5year note is unchanged ...
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Wednesday, February 27th, 2008
Corporate bond spreads waxed and waned today with the drifting fortunes of the stock market. I mentioned yesterday that the tone had improved and that seems to be the case again today,too. Here are several factors contributing to the new improved psychology in the corporate market.The IG9 index has stabilized ...
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