Libor
Tuesday, May 19th, 2009Three month Libor set at 0.7525 percent this morning which is another 3 basis point decline.
Archive for May, 2009
Three month Libor set at 0.7525 percent this morning which is another 3 basis point decline.
Interesting Search Engine
Tuesday, May 19th, 2009I had observed some interesting press for this new search engine. Someone had the temerity to describe it as a google killer. I do not know about that but it spits out some powerful stuff. In the link I asked it about the 57th prime number. It is quite a response.
Bond Market Opening May 19 2009
Tuesday, May 19th, 2009Prices of Treasury coupon securities are tumbling once again in overnight trading as a revival of animal spirits amongst the rentier class reduces demand for risk averse assets. The sharp upswing in equity prices of yesterday continued in overseas markets and futures markets indicate that the US market will open ...
Chipping Away at the Dollar Edifice
Monday, May 18th, 2009Via the FT a story on Brazil and China combining to reduce the role of the dollar in trade. The sands of time are racing through the hour glass and the days of American hegemony are slipping away. It will take time but the decline has commenced and will pick up ...
Bond Market Close May 18 2009
Monday, May 18th, 2009Prices of Treasury coupon securities took a shellacking today with the longer maturities suffering the largest relative declines. I do not have a solid reason for the carnage though participants suggested many. In the beginning there was talk of corporate supply and how the new supply of today as the residue of ...
Agency Spreads
Monday, May 18th, 2009Agency spreads are in 2 basis points across the curve (2year through 10 year). Lower levels in the Libor market and attendant tightening of swapped spreads benefited agencies. Spreads also benefited from supply considerations. Freddie Mac announced a new three year deal which should price tomorrow. It will probably total $ ...
MBS Swaps and Some Vol
Monday, May 18th, 2009Swap spreads are mixed. Shorter spreads are tighter as Libor relentlessly ratchets tighter. Two year spreads are 4 1/2 basis points tighter at 37 1/4. Five year spreads are 3 1/2 basis points tighter at 42 3/4. In the ten year sector the gains are thinner with spreads 1/4 basis ...
More on Treasury Market
Monday, May 18th, 2009The 10 year note has broken to new high yields for this little mini cycle. Dealers want to blame it on the corporate issuance. That seems a little bit of a stretch and an example of post hoc ergo propter reasoning. I have heard of hot money selling prior to the buyback ...
Citi Update
Monday, May 18th, 2009I just saw a quote from a dealer ( little old as it is from 1030AM) and the Citi 10 year was 525/515.
Treasury Market
Monday, May 18th, 2009Treasury note and bond prices are up a tad. However, they have retreated from levels attained earlier in the session. The level of activity is quite low and dealers report that the corporate issuance cycle is weighing on sentiment in Treasury land. As we speak the Open Market Desk is seperating the ...