Archive for November, 2008
Monday, November 10th, 2008
The Treasury market has staged a nice rally ahead of the 3 year note auction. I have not been able to ascertain a specific proximate cause. Several traders cited the stock market as a factor because it surrendered the large gains with which it opened the day.
Futures are leading the ...
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Monday, November 10th, 2008
In response to the less onerous terms of the government rescue package AIG 10 year bonds have catapulted from the 30s to the 50s.
Posted in Uncategorized | 4 Comments »
Monday, November 10th, 2008
Goldman stock breaking down hard today and is off just under 7 percent.
Posted in Uncategorized | 1 Comment »
Monday, November 10th, 2008
The Treasury market closes at 200PM today for the Veterans Day holiday tomorrow.
There has been some central bank selling of the front end this morning.
The Treasury will sell $25 billion 3 year notes at 1130AM New York time. They are + 55 1/2 basis points cheap to 2 year notes. ...
Posted in Uncategorized | Comments Off on Treasury Miscellany
Monday, November 10th, 2008
IG 11 is now 183/185 after opening around 180. It closed 188/190.
Circuit City has filed for bankruptcy and DB has a target of ZERO for GM stock.
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Monday, November 10th, 2008
Prices of Treasury coupon securities are sagging in overnight trading as news that China will spend nearly $600 billion to stimulate its slumping economy sparked robust rallies in global stock exchanges. There is also the small matter of the $55 billion refunding package which begins today with the sale of ...
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Monday, November 10th, 2008
Libor US$ Fixing
11/10 11/07 Change
OVERNIGHT .35000 .33125 .01875
1 WEEK .83750 .86250 -.02500
2 WEEKS 1.07875 1.11250 -.03375
1 MONTH 1.53875 1.62250 -.08375
2 MONTH 2.10375 2.15875 -.05500
3 MONTH 2.23500 2.29000 -.05500
4 MONTH 2.37000 2.40500 -.03500
5 MONTH 2.49625 2.51750 -.02125
6 MONTH 2.62125 2.63875 -.01750
9 MONTH 2.71875 2.73500 -.01625
12 MONTH 2.79250 2.80000 -.00750
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Friday, November 7th, 2008
Agency spreads are tighter by 7 basis points in the 2 year sector, 1 basis point in the 5 year sector and 4 basis points in the 10 year sector.Traders report robust demand across most sectors and especially in the maturities shorter than 2 years.
Agencies have benefited from the ongoing ...
Posted in Uncategorized | 4 Comments »
Friday, November 7th, 2008
Corporate bond spreads are unchanged today with very light trading volume. One salesman reported some selective buying in a few names. He cited several buyers of Conoco 5 year and 10 year paper as well as some interest in first mortgage utility bonds.Some of the issues which I try to ...
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Friday, November 7th, 2008
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