Archive for February, 2009
Wednesday, February 25th, 2009
Swap spreads have widened quite a bit today. Two year spreads are wider by 2 ¼ basis points at 63 ¼ basis points. Five year spreads are 3 basis points wider at 66 ½. Ten year spreads are 4 ½ basis points wider at 30. Thirty year spreads are 4 ...
Posted in Uncategorized | Comments Off on Fixed Income Market: Swaps and MBS
Wednesday, February 25th, 2009
Agency spreads are mixed today. Two year sector paper is unchanged to a tad tighter. That probably reflects the residue of Federal Reserve purchases in the sector yesterday. Three year paper is unchanged to a tad wider. Five year sector spreads are 2 basis points to three basis points wider. ...
Posted in Uncategorized | Comments Off on Fixed Income: Agency Market
Wednesday, February 25th, 2009
The corporate bond market has maintained its firm tone today but he level of activity is light. Clients are waiting for some news to push them into action. Issuance is light as corporations are reluctant to engage in hand to hand warfare with the Treasury.
There is one notable deal today, ...
Posted in Uncategorized | Comments Off on Bond Market: Corporates
Wednesday, February 25th, 2009
Good Afternoon. Your faithful correspondent has back problems and a pain in the neck has made me light blogger today.
The Treasury will sell $32 billion 5 year notes at 100Pm New York time. That is a lot of bonds. The auction should come well but given the size and the ...
Posted in Uncategorized | 10 Comments »
Wednesday, February 25th, 2009
IG 11 216/218 wider by 2 basis points
Posted in Uncategorized | 2 Comments »
Wednesday, February 25th, 2009
A friend of the blog e mailed a note that CDS spreads on German debt had reached record wides.
Posted in Uncategorized | 1 Comment »
Wednesday, February 25th, 2009
Prices of Treasury coupon securities are virtually unchanged in overnight trading. President Obama addressed the nation last evening in a speech long on rhetoric and short on specifics. What he outlined in terms of proposals will certainly cost chunk of money but he was not precise about the cost. The ...
Posted in Uncategorized | 18 Comments »
Tuesday, February 24th, 2009
Prices of Treasury coupon securities sagged, slumped and sauntered lower today as a variety of factors joined forces to weigh on sentiment. As has been the case often lately, supply was the lead bugaboo. Ostensibly, the Treasury successfully sold $40 billion 2 year notes at a yield of 0.961 percent. ...
Posted in Uncategorized | 3 Comments »
Tuesday, February 24th, 2009
Swap spreads are wider across the curve this day.Two year spreads are 1 1/2 basis points wider at 64 3/4. Five year spreads are3/4 basis points wider at 63 3/4 . Ten year spreads are 1 1/4 basis point wider at 25 1/4. Thirty year spreads are 3/4 basis points ...
Posted in Uncategorized | Comments Off on Swaps and MBS
Tuesday, February 24th, 2009
Agency spreads are mixed today. Spreads in the 2 year sector are about a basis point tighter today. Traders in that sector enjoyed the largesse of a Ben Bernanke helipcopter launch which sprinkled nearly $ 3billion into the sector.
Five year spreads are 1 1/2 basis points wider and 10 year sector ...
Posted in Uncategorized | 2 Comments »