Archive for May, 2009
Tuesday, May 26th, 2009
Swap Spreads are posting small mixed changes. Two year spreads are 1/2 basis point tighter at 40 1/4. Five year spreads 1/2 basis point wider at 48 1/2. Ten year spreads are unchanged at 15. Thirty year spreads are 1/2 basis point tighter at -31 1/2.
The three month 10 year ...
Posted in Uncategorized | Comments Off on SWAPS and VOL and MBS
Tuesday, May 26th, 2009
The Treasury market had a strong bid early but has withered in the face of an ebullient equity market and an auction of $ 40 billion 2 year notes and upbeat economic data.
Participants report central bank buying concentrated in the front end (though a smattering of participation in the 10 ...
Posted in Uncategorized | 11 Comments »
Tuesday, May 26th, 2009
Quiet but firm is the byword. More buyers than sellers. But not alot of activity.
The new issue calendar is light and the high profile offering of the day thus far is a 7 year deal from Met Life.
Posted in Uncategorized | 1 Comment »
Tuesday, May 26th, 2009
- 5yr Snr Bank CDS: BAC 155/165 (+3), CITI 355/375 (+5), JPM 95/105 (unch), WFC 115/125 (unch)
- 5yr Snr Broker CDS: GS 143/153 (+3), MS 235/245 (unch)
- CDS Index: IG12 149/150.5 (+2)
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Tuesday, May 26th, 2009
JPM 4.65 2014 250 /245 priced 275
GE 5.9 2014 345/340 priced 387
C 8 .5 2019 492/487 priced 562
Posted in Uncategorized | Comments Off on Selected Corporate Bond Quotes
Tuesday, May 26th, 2009
No Exit is a play by French author and existentialist par excellence Jean Paul Sarte.
Apparently the Federal Reserve does not wish to be trapped in a strategy with no exit and is in active discourse on how they unwind the massive provision of liquidity when it is economically appropriate to ...
Posted in Uncategorized | 11 Comments »
Tuesday, May 26th, 2009
Three month Libor set at 0.66375 this morning versus 0.66 previously.
One year Libor set at 1.55250 this morning versus 1.53125 previously.
Posted in Uncategorized | Comments Off on Libor
Tuesday, May 26th, 2009
Prices of Treasury coupon securities are posting meager gains in overnight trading following the debacle which they experienced last week. Equity markets in Europe are registering modest declines and there is some geopolitical fear wafting through the air following the North Korean nuclear test over the weekend.
The yield on the ...
Posted in Uncategorized | 1 Comment »
Tuesday, May 26th, 2009
The Conference Board will release May Consumer Confidence today.It remains historically low but economists are forecasting a small rise to 43 from 39.2
The housing market has been the villain of the economic piece since its peak in late 2006. The Case Shiller report should show that the decline in home ...
Posted in Uncategorized | Comments Off on Economic Data May 26 2009
Friday, May 22nd, 2009
I will be checking here periodically over remainder of the day but unless something momentous happens I am through blogging for the day.
My thanks to all for the copious and cogent comments from so many this week.
Enjoy the long weekend.
JJJ
Posted in Uncategorized | 5 Comments »