FDIC Run
Thursday, December 4th, 2008fdic run - opening levels vs UST vs libor Pricing Level ms 2.90 12/01/10 177/172 70/65 +180 / L+82 ms 3.25 12/01/11 195/190 85/80 +186 / L+85 jpm 3.125 12/01/11 194/189 84/79 ...
Archive for December, 2008
fdic run - opening levels vs UST vs libor Pricing Level ms 2.90 12/01/10 177/172 70/65 +180 / L+82 ms 3.25 12/01/11 195/190 85/80 +186 / L+85 jpm 3.125 12/01/11 194/189 84/79 ...
T Bills
Thursday, December 4th, 2008I just spoke to a bill trader who noted that a large chunk of the bill list is trading at zero percent. He mentioned a point that I had forgotten but is worth noting. Bills always trade well in December because at year end there is demand for them as ...
IG 11
Thursday, December 4th, 2008IG 11 is moving in the wrong direction as it is 7 basis points wider at 269.
Libor Chart
Thursday, December 4th, 2008Libor US$ Fixing 12/04 12/03 Change OVERNIGHT .51875 .88125 -.36250 1 WEEK 1.05625 1.18625 -.13000 2 WEEKS 1.24750 1.28250 -.03500 1 MONTH 1.87625 1.89000 -.01375 2 MONTH ...
Opening Thoughts on December 4 2008
Thursday, December 4th, 2008Prices of Treasury coupon securities have surged and since the inverse relationship between price and yield has not become unmoored interest rates have plummeted to new lows as this incredible financial saga continues.There has been a group orgy of rate cutting overnight. I have never mentioned the Indonesian Central bank ...
Bank of England
Thursday, December 4th, 2008The Bank of England has responded to the worldwide economic crisis by slashing rates 100 basis points. The ECB is up next.
Treasury Market
Wednesday, December 3rd, 2008Prices of Treasury coupon securities, on balance, registered very modest gains today in featureless trading. The yield on the 2 year note slipped one basis point to 0.88 percent. The yield on the 3 year note fell 3 basis points to 1.06 percent. The yield on the 5 year note ...
FDIC Run
Wednesday, December 3rd, 2008fdic debt, markets: at 4:00pm gs 3.25 6/12 193/188 ms 2.9 12/10 177/171 ms 3.25 12/11 194/189 jp 3.125 12/11 194/189 bac 3.125 6/12 198/194 c 2.875 12/11 194/191
Swap Spreads
Wednesday, December 3rd, 2008Two year swap spreads are 4 basis points wider at 110 basis points. Five year spreads are 6 basis points wider at 94 basis points. Ten year spreads are 5 basis points wider at 28 basis points. Thirty year spreads normalized 5 basis points to NEGATIVE 32 ½ basis points.I ...
Agency Debt
Wednesday, December 3rd, 2008Dealers expect that the Federal Reserve will notify them tomorrow that the Federal Reserve will purchase agency paper on Friday. The process will be conducted through the primary dealer network about once a week. The Federal Reserve will purchase fixed rate non callable senior debt.Spreads today were mixed. Two year ...