Archive for May, 2008
Tuesday, May 20th, 2008
Prices of Treasury coupon securities are virtually unchanged from levels attained in late New York trading yesterday. (As an administrative note, I wrote my closing piece a tad early and did not capture the late price gains. The price movements cited here are as per the Bloomberg internet page. My ...
Posted in Uncategorized | Comments Off on Opening Comments May 20th 2008
Monday, May 19th, 2008
Prices of Treasury coupon securities have posted mixed results today with securities with maturities of 5 years and less posting marginal gains and securities with longer maturities finishing dramatically unchanged. The yield on the 2 year note has declined by 3 basis points to 2.41 percent. The yield on the ...
Posted in Uncategorized | 1 Comment »
Monday, May 19th, 2008
Corporate bond spreads opened 3 basis points to 4 basis points tighter this morning but a smoldering new issue calendar has extinguished the gains and spreads are a basis point or two wider. Issuance today is already in the $10billion to $12 billion zone. There is very little trading in ...
Posted in Uncategorized | Comments Off on Corporate Bonds
Monday, May 19th, 2008
Mortgages are unchanged to Treasury debt and 2 ticks wider versus swaps. There has been real money taking profits as well as originator selling.
Posted in Uncategorized | Comments Off on MBS
Monday, May 19th, 2008
UK homeowners lift the offered side on houses they wish to sell. It would be rather dubious to believe that the bid side rose a like amount.
In my earler search for news I failed to unearth this one. ECB President Trichet with a prediction that the worst of the credit ...
Posted in Uncategorized | Comments Off on Some Links for a Monday Morning
Monday, May 19th, 2008
Dealers report that customer activity was light last night but here are several meaningful flows:
Asian real money sellers of 5 years. Hedge funds engaged in two way flow in this sector.
Bank buying of the 2 year sector.
End user selling of the 7 year sector.
Posted in Uncategorized | Comments Off on SOme Overnight Treasury Flow
Monday, May 19th, 2008
Prices of Treasury coupon securities posted solid price gains in overseas trading. The yield on the benchmark 2year note declined 3 basis points 2.42 percent. The yield on the 5 year note dropped by a similar amount to 3.08 percent. The yield on the benchmark 10 year note dropped 2 ...
Posted in Uncategorized | Comments Off on Some Opening Comments May 19 2008
Sunday, May 18th, 2008
I did not catch this on Friday but Atlanta Fed President Lockhart decidedly less alarmed about the inflation threat than some of his central bank compatriots who had spoken earlier in the week.
Japanese manufacturers turn negative as raw material costs rise and the US slowdown bites.
I was searching around for ...
Posted in Uncategorized | 4 Comments »
Friday, May 16th, 2008
Prices of Treasury coupon securities posted modest losses in a trading session which started out with some real volatility but faded into a lackluster denouement. The yield on the benchmark 2 year note has glided higher by 3 basis points and is finishing the day at 2.45 percent. There was ...
Posted in Uncategorized | Comments Off on Closing Comments May 16 2008
Friday, May 16th, 2008
Agency spreads are closing unchanged in the 5 year and 10 year sectors and about a basis point tighter in the 2 year sector. That camouflages quite a bit of movement as the 10 year note was as much as 3 basis points tighter on two occasions, before it retreated ...
Posted in Uncategorized | Comments Off on Agency Bonds