Archive for December, 2008
Monday, December 8th, 2008
It appears that this will be a week of heavy corporate bond issuance with financial names flooding the market with more guaranteed paper. Here is a tentative listing sent by a friend of the blog:
NEW ISSUE PIPELINE...significant issuance this week
TBA REGIONS BK TBD BARC/CS/GS/MK AAA/AAA 12/08 ...
Posted in Uncategorized | Comments Off on Corporate Supply
Monday, December 8th, 2008
IG 11 is 266/270 which is 6 narrower on the day and 22 better than the widest levels attained Friday.
Posted in Uncategorized | Comments Off on IG 11
Monday, December 8th, 2008
Libor US$ Fixing
12/08 12/05 Change
OVERNIGHT .18625 .28375 -0.09750
1 WEEK .73750 .91875 -0.18125
2 WEEKS .99375 1.13625 -0.14250
1 MONTH ...
Posted in Uncategorized | Comments Off on Libor Chart
Monday, December 8th, 2008
At 2:30 AM today, Federal Reserve Governor Kroszner will speak on "Assessing
the Potential for Instability in Financial Markets" at a conference in Geneva.
The speech begins at 8:30 AM Geneva time.
At 4:00 AM, Boston Fed President Rosengren will speak on "Some Principles to
Consider in the Future Regulatory Reform" at the same ...
Posted in Uncategorized | Comments Off on Speakers
Monday, December 8th, 2008
Prices of Treasury coupon securities have plunged in overnight trading as equity markets react to President-elect Obama's weekend pledge of massive expenditures on the American infrastructure to rescue the economy from the grip of the recession. There is also a sense of relief from news reports which indicate that the ...
Posted in Uncategorized | 7 Comments »
Friday, December 5th, 2008
Secondary cash market trading of corporate bonds was subdued today. The most recent quote on the IG 11 was 282/285 which has it hovering around all time wides.Harvard University is tapping the debt market today with benchmark size issuance in 5year, 10 year and 30 year paper. Those are taxable ...
Posted in Uncategorized | 8 Comments »
Friday, December 5th, 2008
There has been a significant about face in the mortgage market today as high coupons which have languished since the Federal Reserve announced that it will buy pass throughs have outshine their low coupon cousins. The most recent update that I have seen has FNMA 5s outperforming FNMA 5 1/2s ...
Posted in Uncategorized | 1 Comment »
Friday, December 5th, 2008
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Posted in Uncategorized | 1 Comment »
Friday, December 5th, 2008
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Posted in Uncategorized | 8 Comments »
Friday, December 5th, 2008
Agency spreads are unchanged in the 2year sector and 2 basis points wider in the 5 year sector. Ten year spreads are 5 basis points wider.
Participants in that sector await the result of the Open Market Desk's initial helicopter ride through the market. I suspect the wider 10 year sector is ...
Posted in Uncategorized | Comments Off on Swaps and Agency Spreads