Archive for April, 2009
Thursday, April 2nd, 2009
Swap spreads are little changed this morning. Two year spreads are a basis point tighter at 57. Five year spreads are flat at 57. Ten year spreads are a basis point tighter at 20. Thirty year spreads are flat at still ridiculous NEGATIVE 28 1/2.
Agency spreads are tighter by a ...
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Thursday, April 2nd, 2009
- 5yr Snr Bank CDS: BAC 380/390 (-20), CITI 630/650 (-30), JPM 190/200 (-10), WFC 295/305 (-15)
- 5yr Snr Broker CDS: GS 280/290 (-3), MS 378/388 (-5)
- CDS Index: IG12 194/196 (-8.0)
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Thursday, April 2nd, 2009
Prices of Treasury coupon securities have taken a bit of a nasty header overnight as resuscitated and revived animal spirits have fostered robust rebounds in equity markets around the globe. Investors are sniffing recovery and stability and are responding by throwing money at stocks.
What are some of the signs that ...
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Wednesday, April 1st, 2009
Prices of Treasury coupon securities traversed a pretty narrow range today and are closing with small mixed ( and random changes). The ADP guesstimate of job losses boosted prices initially but in non Long Bond parts of the yield curve that bid faded.
The yield on th2 year note climbed 2 ...
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Wednesday, April 1st, 2009
Mortgages trade in a very narrow dollar price range once again and are about a tick better versus swaps.
Two year swap spreads have narrowed 2 1/2 basis points to 56. Five year spreads have widened 1 3/4 basis points to 56. Seven year spreads have widened 1 1/4 basis points ...
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Wednesday, April 1st, 2009
Agency spreads have moved tighter across the yield curve today. Two year spreads are three basis points tighter at 60 basis points. Five year spreads are 2 basis points tighter at 83 basis points. Ten year spreads are 2 1/2 basis points tighter at 88 1/2.
Fnma announced a new 3 ...
Posted in Uncategorized | Comments Off on Agency Market
Wednesday, April 1st, 2009
The Open Market Desk bought $ 6billion of off the run securities in the buyback this morning. About half of what they purchased comes due in May 2012 through July 2012.
One again they bought approximately 1/3 of what has been shown to them. That has been the pattern in each ...
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Wednesday, April 1st, 2009
In early trading originators are once again inundating the Street with supply. The Federal Reserve has been a buyer but tepidly. Money managers are buying middle of the stack coupons. Against that background 5 1/2s are about a plus tighter to swaps. The 4s and 4 1/2s are lagging swaps ...
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Wednesday, April 1st, 2009
There is very little activity in the corporate bond market in early trading. The IG 12 is about 5 wider at 201/203.
Industrial names are unchanged and bank and finance paper is about a nickel wider.
There is nothing yet on the new issue corporate front this morning.
The Ingersoll Rand and Black ...
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Wednesday, April 1st, 2009
5yr Snr Bank CDS: BAC 400/410 (+10), CITI 650/665 (+20), JPM 215/225 (+10), WFC 318/328 (+20)
- 5yr Snr Broker CDS: GS 285/295 (+5), MS 385/395 (+5)
- CDS Index: IG12 198/199.5 (+1.5), HVOL12 463/473 (+3)
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