Archive for September, 2008
Tuesday, September 2nd, 2008
Agency spreads are mixed in early trading.The 2 year sector and the 5 year sector are about a basis point wider while the 10 year sector is about a basis point tighter.
Mortgages are 4 ticks to 5 ticks wider on origination selling and fast money selling.
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Tuesday, September 2nd, 2008
Benchmark treasury yields opened higher but have been recovering gradually over the course of the morning. I have heard of Japanese sellers of 2 years, pension sellers of 10 years and central banks waiting to buy a dip in the 5 year sector.
There has been some active issuance thus far ...
Posted in Uncategorized | Comments Off on Miscellany
Tuesday, September 2nd, 2008
The New York Times has an article which advances the idea that FNMA and Freddie Mac should merge. The author outlines various cost savings and synergies which would strengthen the combined firm . ( I always wondered what a synergy was in the real world. Well, when I worked for JPMorgan ...
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Tuesday, September 2nd, 2008
Central Banks extensions from very short paper into the 2 year sector.
Hedge Fund buyers of 5 years and 10 years.
Bank buying 10 years.
Posted in Uncategorized | Comments Off on Some Overnight Flow
Tuesday, September 2nd, 2008
An early indication puts the IG 10 at 140/141. It was trading 144 Friday morning around 1100AM. Higher equity prices and lower energy prices have contributed to the spread narrowing this morning.
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Tuesday, September 2nd, 2008
Prices of Treasury coupon securities have registered modest losses as trading resumes following the Labor Day holiday yesterday. Bond prices have slumped in response to equity market enthusiasm in Europe. Most European exchanges are posting gains of more than one percent as oil has tumbled more than $8 because the ...
Posted in Uncategorized | Comments Off on Opening Comments September 2 2008
Monday, September 1st, 2008
This story from the FT reports on Russia statement that it has geographical area of "of privileged interest" near its borders. I guess once could argue that the statement is the Russian equivalent of the Monroe Doctrine which has made the Caribbean an American lake for nearly 20 years. Or ...
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