Archive for June, 2009
Tuesday, June 23rd, 2009
As I have mentioned the Treasury will sell $ 40 billion 2 year notes at 100PM New York time.
There is always interest in the indirect bidding category as it is a proxy for central bank demand. Over the last three months that bidding interest has averaged 45 percent of the ...
Posted in Uncategorized | 11 Comments »
Tuesday, June 23rd, 2009
Swap spreads are a wider across the curve. Two year spreads are a basis point wider at 47. Five year,ten year and thirty year spreads are 2 basis points wider at 44 1/2, 27, and NEGATIVE 12 1/2,respectively.
The Open Market Desk is buying back 5year through 7 year agencies today. ...
Posted in Uncategorized | Comments Off on Miscellany
Tuesday, June 23rd, 2009
PRICED CURRENT
2YR 75 67/62
6YR 137.5 125/120
10YR 140 131/126
30YR 145 132/127
Posted in Uncategorized | 1 Comment »
Tuesday, June 23rd, 2009
As I noted in an earlier post hosting problems force me from my perch yesterday and all of my mind droppings disappeared from the blog.
An anonymous reader who receives the blog via an RSS feed preserved my words . I am now cutting and pasting all of that here for ...
Posted in Uncategorized | Comments Off on Yesterday
Tuesday, June 23rd, 2009
Yesterday the electronic gods chased me from my platform here in cyberspace and I missed the Merck pricing. Here are the details and current levels: The $ 1.25 billion 2 year notes priced at T+75 and are currently quoted 66/63.
The $ 1 billion 6 year bonds priced at T + ...
Posted in Uncategorized | Comments Off on Merck Deal
Tuesday, June 23rd, 2009
Libor opened at 0.6075 this morning versus 0.61 yesterday.
Posted in Uncategorized | Comments Off on Libor
Tuesday, June 23rd, 2009
Prices of Treasury coupon securities are registering modest losses in overnight trading. The market posted solid gains yesterday and the losses overnight represent a partial retracement of the equity market driven gains from yesterday. Major Asian stock markets slumped in sympathy with US market declines but European markets have stabilized ...
Posted in Uncategorized | Comments Off on Bond Market Open June 23 2009
Tuesday, June 23rd, 2009
This is an excerpt from a very long piece by JPMorgan economists which discussed management of the Federal Reserve balance sheet and various exit strategies from the array of unconventional policies which the Fed currently employs.
When will the Fed hike rates?
The FOMC has stated an intention to keep rates low ...
Posted in Uncategorized | 2 Comments »
Monday, June 22nd, 2009
There was a serious technical glitch on Monday June 22 2009. Everything which I composed has been lost and is floating around somewhere in electronic limbo.
It looks as though things are working now and all should be well on Tuesday June 23 2009.
My apologies.
Posted in Uncategorized | 5 Comments »
Monday, June 22nd, 2009
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Posted in Uncategorized | Comments Off on Testing