Archive for November, 2008
Wednesday, November 12th, 2008
The Federal Reserve announced the results of an auction for money which will be made available on December 22 and which would expire on January 09 2009. There was virtually no demand for the money. The Central Bank offered $150 billion and it received bids for less than $13 billion.
There would ...
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Wednesday, November 12th, 2008
The initial quote I have received on the IG 11 is wide but real at 192/197. That according to the missive I received is about 8 wider.
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Wednesday, November 12th, 2008
Libor US$ Fixing
11/12 11/11 Change
1 WEEK .84000 .80250 .03750
2 WEEKS 1.04000 1.04375 -.00375
1 MONTH 1.40875 1.47750 -.06875
2 MONTH 2.01625 2.04625 -.03000
3 MONTH 2.13250 2.17500 -.04250
4 MONTH 2.27375 2.30625 -.03250
5 MONTH 2.39125 2.42375 -.03250
6 MONTH 2.52500 2.54500 -.02000
9 MONTH 2.60750 2.62375 -.01625
12 MONTH 2.68250 2.70750 -.02500
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Wednesday, November 12th, 2008
Prices of Treasury coupon securities have posted modest gains in overnight trading as fears about the severity of the global economic downturn trump the mountain of debt that the Treasury is issuing this week.Against that background, the yield on the 2 year note slipped 3 basis points to a cycle ...
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Tuesday, November 11th, 2008
Reuters with a story about the trials, tribulations and travails shich shall soon strike the credit card industry.
I am a tad late getting to this one but Professor Hamilton writes an illuminating piece on the funds rate in the new world of a swollen Federal Reserve balance sheet.
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Tuesday, November 11th, 2008
BN 13:47 *GMAC LLC SR DEBT CUT TO CC FROM B+ BY FITCH :GM1 US
BN 13:47 *CORRECT: FITCH CUTS GMAC LLC IDR TO CCC FROM B+
FII 13:46 Correction - Fitch Dwngrs GMAC LLC IDR to 'CCC'; Watch Negative
BN ...
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Tuesday, November 11th, 2008
My sister turned 41 years old that day and in a mutually exclusive event bond yields touched multi decade lows on that date.
I had a friend of the blog provide me with the information from the Bloomberg. On that day the 2 year note traded at 1.084 percent. The 5 ...
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Tuesday, November 11th, 2008
The Treasury market is closed today in honor of Veterans Day. Therefore, blogging will be sporadic.
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Monday, November 10th, 2008
There is some nepotism at work here and some genuine pride as I add the Charlottesville Ballet to the blog roll. I expect that it will be the only non financial site on the blog roll.
It is a new venture (non profit) organized by my daughter and her friend to ...
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Monday, November 10th, 2008
The three year note in its reprise on the Treasury stage received loud applause and an enthusiastic reception from investors. The issue stopped four basis points more expensive that where it was trading in the screens moments before the auction.
In retrospect, the market sold off Friday after good for the ...
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