Archive for May, 2008
Thursday, May 8th, 2008
I am having some work done here at the epicenter of Across the Curve and the workmen unearthed( not literally as they discovered this artifact in the walls)a single page of the May 21 1964 edition of the New York Daily News. The inhabitants of the house, as do the ...
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Thursday, May 8th, 2008
Newsday, the local paper here on Long Island, reports that housing prices here on Long Island have actually increased between March and April. The real estate listing service which reports the data also covers New York City Borough Queens and that is included in the data. The median closing price ...
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Thursday, May 8th, 2008
The Treasury in a few scant moments will sell $6 billion reopened long bonds to the assembled throng of naivete filled investors. The issue has cheapened 3 ½ basis points to the 5 year today and 2 basis points to the 10 year note. It trades at the back end ...
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Thursday, May 8th, 2008
Another participant reports that ABX sold off hard on the back of heavy selling by customers which precipitated heavy selling by dealers. In the last few minutes some professional short covering demand has emerged to stabilize the market.
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Thursday, May 8th, 2008
Subprime. The sound of the word is like the smell of naplam in the morning. Anyway, it has sold off rather hard the last several days. The chunkiest carnage in is the AA and AAA tranches.The 06-2 and 07-1 deals have been the hardest hit. The AA tranche of the ...
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Thursday, May 8th, 2008
The Treasury yield curve has manifested a predeliction to steepen this morning. The 2year 10 year yield differential is about 5 basis points wider than at the close yesterday and currently sits at 159 basis points.Similiarly, the 2year/30 year spread has steepened by 7 basis points and is at 234 ...
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Thursday, May 8th, 2008
Some overnight flows in Treasury land:
Central Bank buyers of 5 years.
Bank buyers of off the run 10 year series.
Asian buyers of 2 year notes.
Japanese and European sellers of 10s and 30s.
Some overnight flows in Treasury land:
Central Bank buyers if 5 years.
Bank buyers of off the run 10 year series.
Asian buyers of ...
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Thursday, May 8th, 2008
Walmart reports strong results for April and issues pedestrian forecast for May.
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Thursday, May 8th, 2008
Prices of Treasury coupon securities have registered modest gains in overnight trading . The yield on the benchmark 2 year note has declined by 3 basis points to 2.29 percent. The yield on the 5 year note has slipped by 2 basis points to 3.07 percent. The yield on the ...
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Wednesday, May 7th, 2008
The Treasury will shortly place $15billion of freshly minted 10 year notes on the auction block for the trading edification and financial aggrandizement of the investing community. There has been some buying of the issue today by central banks . Most traders with whom I have chatted believe that the ...
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