Archive for February, 2009
Sunday, February 22nd, 2009
I do not do links to often but here are a few interesting ones:
From the International Herald Tribune an article about the Weltanschauung in Europe as economic crisis spreads.
I just discovered this website, The Baseline Scenario, and it is excellent. Here is one example from their most recent post.
And a ...
Posted in Uncategorized | 3 Comments »
Friday, February 20th, 2009
Prices of Treasury coupon securities are registering solid gains today but have retreated from their best levels as the equity market rebounded from its worst levels.
The yield on the 2 year note declined 6 basis points to 0.93 percent. The yield on the 3 year note dropped 7 basis ...
Posted in Uncategorized | 9 Comments »
Friday, February 20th, 2009
Fear of financial doom dominates the dominated the corporate market today and most of the week. Citibank and B of A have been the twin poster children for the malaise which grips the market. Citi and B of A paper has widened about 50 basis points today after widening about ...
Posted in Uncategorized | 1 Comment »
Friday, February 20th, 2009
Agency spreads are mixed today with no major themes apparent. One trader who is a fast friend of the blog notes that he has observed good demand in the 3 year sector as supply this week in the sector cheapened it appreciably. The 3 year Freddie which priced earlier in ...
Posted in Uncategorized | 1 Comment »
Friday, February 20th, 2009
The dollar has gotten clobbered against the major currencies. I think it is partly the dramatic decline in the stock market as wells as heightened concerns about the health or lack thereof of the banking system.
One analyst with whom I just spoke noted that the biggest chunk of the move ...
Posted in Uncategorized | Comments Off on The Mighty Greenback
Friday, February 20th, 2009
A friend of the blog forwarded this long term S and P chart to me. I am not a chartist but I think that it makes the point that we could approach S and P 500.
Posted in Uncategorized | 11 Comments »
Friday, February 20th, 2009
Mortgages are 5 basis points to 6 basis points wider to the 5 year Treasury. There has been light selling by originators, money managers and large banks.
Posted in Uncategorized | Comments Off on MBS
Friday, February 20th, 2009
Spreads are opening wider this morning but quite modestly so. Swap spreads are 2 basis points wider in 2year,5year and 10 year sectors and 1 basis point wider in 30 years.
Agency spreads have leaked wider by 2 basis points in the 2 year sector and 3 basis points in the ...
Posted in Uncategorized | Comments Off on Swaps and Agencies
Friday, February 20th, 2009
An interesting article on the woes of C and B of A from a friend of the blog.
Posted in Uncategorized | 13 Comments »
Friday, February 20th, 2009
IG 11 opening 6 wider at 215/217.
Posted in Uncategorized | Comments Off on IG 11