Citibank
Monday, November 17th, 2008Gasparino of CNBC is reporting that Citi will slash its workforce by 50,000.
Archive for November, 2008
Gasparino of CNBC is reporting that Citi will slash its workforce by 50,000.
Libor Chart
Monday, November 17th, 2008Libor US$ Fixing 11/17 11/14 Change OVERNIGHT .40000 .41250 -.01250 1 WEEK .91875 .91250 .00625 2 WEEKS 1.12750 1.11125 .01625 1 MONTH 1.47375 1.47750 -.00375 2 MONTH 2.11375 2.11625 -.00250 3 MONTH 2.23875 2.23625 .00250 4 MONTH 2.39500 2.39250 .00250 5 MONTH 2.54000 2.54250 -.00250 6 MONTH 2.71375 2.71375 .00000 9 MONTH 2.79750 2.80500 -.00750 12 MONTH 2.88000 2.90500 -.02500
Opening Comments November 17 2008
Monday, November 17th, 2008Prices of Treasury coupon securities are posting mixed changes in overnight trading but economic weakness is still pervasive and uncertainty wracks the markets concerning the length and depth of the weakness.The yield on the benchmark 2 year note is unchanged at 1.21 percent and the yield on the 3 year ...
Closing Comments November 14 2008
Friday, November 14th, 2008Prices of Treasury coupon securities surged today as that which was tainted yesterday held great allure today. Yesterday the Treasury sold $10billion long bonds and it created a market ruckus. Today investors flocked to the Long end and reversed much of the carnage which developed yesterday. Pension funds and insurance ...
Corporate Bonds
Friday, November 14th, 2008Corporate bond spreads as measured by the IG 11 are under a bit of pressure. That index had traded in a range between 180 and 200 but has broken down and of late and a recent quote made it 205/207.Sales persons report a quiet market today. The featured deal yesterday ...
Agency Close
Friday, November 14th, 2008Agency spreads got clocked again today. Spreads are wider by 10 basis points on the 2year sector, 6 basis points in the 5 year sector and 10 basis points in the 10 year sector.Spreads began to crater earlier in the week when Mr Paulson changed his mind about buying troubled ...
MBS and Swaps
Friday, November 14th, 2008Two year swaps spreads are 5 ¼ basis points wider at 116. Five year swap spreads are 4 basis points wider at 109 ¼ basis points. Ten year spreads are 1 ¾ basis points wider at 33 ½. Thirty year spreads are ½ basis point tighter at NEGATIVE 13 ¾.Mortgages ...
More on Treasury Auction Process
Friday, November 14th, 2008Yesterday I wrote a piece about the ignominious and ignoble conclusion of the quarterly refunding with the horrrific result of the 30 year bond auction. I noted that the "tail" cost the taxpayers $175,000,000 and that article has received modest circulation in the economic blogosphere.I just want to point out ...
Libor Musings
Friday, November 14th, 2008What follows is the thoughts of a trader on the rise in Libor the last two days: Libor set higher for the first time in 24 days. The market took this as an affront to spreads and proceeded to buy Libor/OIS pretty heavily. Why? well, yet again this marks a potential turning point ...