Archive for October, 2008
Tuesday, October 28th, 2008
Agency spreads were unchanged in the 2 year sector and a basis point wider in the 5 year sector. Ten year agencies are closing 3 basis points wider. Acting Secretary for Domestic Finance Anthony Ryan spoke today and attempted a laying on of hands as he proclaimed that FNMA and ...
Posted in Uncategorized | Comments Off on Agency Debt
Tuesday, October 28th, 2008
Corporate bonds as measured by the IG 11 are two basis points tighter on the day at 224 ½ / 226 1/2. That is the good news because the bad news is that they are about a dozen basis points off the best levels of the day. There are concerns ...
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Tuesday, October 28th, 2008
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Tuesday, October 28th, 2008
First a weather report. There is a pretty mean thunder storm rolling through the southeast corner of Nassau County. It sounds like late July rather than late October.
Most Agencies are opening wider once again. The 2 year agency is the exception as it is unchanged. Five year sector paper is ...
Posted in Uncategorized | 1 Comment »
Tuesday, October 28th, 2008
Mortgages are opening about 10 ticks tighter to 10 year Treasury. Dealers report robust buying from domestic banks, money managers and hedge funds.
Rolls still trade poorly and that has put a bit of a cap on the early enthusiasm.
Posted in Uncategorized | 2 Comments »
Tuesday, October 28th, 2008
This is a note from a dealer's repo desk with some color on that market for today. In essence, the situation has improved but is far from normal:
GC closed at zero last night, in response to the increase in the outstanding dollar value of fails. The absolute number of issues ...
Posted in Uncategorized | 6 Comments »
Tuesday, October 28th, 2008
The IG 11 is opening tighter by 11 basis points at 213/215.
Posted in Uncategorized | 1 Comment »
Tuesday, October 28th, 2008
Prices of Treasury coupons securities suffered deep declines in overnight trading as equity markets around the globe rebounded and reduced the safe haven demand for government debt. Fear of upcoming supply also bedeviled the market as investors ruminate on the manner in which the government will fund the rescue of ...
Posted in Uncategorized | 3 Comments »
Monday, October 27th, 2008
Prices of Treasury coupon securities retreated from the lofty levels attained in overnight trading and are closing the session with moderate losses. The yield on the 2 year note has jumped 7 basis points to 1.60 percent. The yield on the 5 year note has climbed 7 basis points also ...
Posted in Uncategorized | 11 Comments »
Monday, October 27th, 2008
Corporate bonds are slightly wider when one employs the IG 11 as a measuring stick. The Index is closing 214/216 which leaves it about 4 ½ basis points wider on the day.The new issue machine was not open today and consequently, there was no supply.
One salesman noted particular strength in ...
Posted in Uncategorized | Comments Off on Corporate Bonds