Administrative Note Redux
Thursday, July 9th, 2009As I mentioned yesterday, family duties will keep me busy and blogging will be intermittent today and tomorrow. Here is a link to some pictures of our beautiful grandaughter.
Archive for July, 2009
As I mentioned yesterday, family duties will keep me busy and blogging will be intermittent today and tomorrow. Here is a link to some pictures of our beautiful grandaughter.
Some Opening Stuff
Thursday, July 9th, 2009The market has retraced much of yesterday's gains. There has been profit taking in response to the bug gains of yesterday and there is selling in advance of the Bond Auction. (In that regard the curve is steepening significantly with the 10 year 30 year spread nearly 90 basis points ...
IG 12 and Some CDS
Thursday, July 9th, 20095yr Snr Bank CDS: BAC 200/210 (unch), CITI 400/410 (unch), JPM 97/105 (-3), WFC 140/150 (unch) - 5yr Snr Broker CDS: GS 150/160 (-3), MS 195/205 (unch) - CDS Index: IG12 143.5/144.5 (-1)
Bond Market Open 07/09/09
Thursday, July 9th, 2009Prices of Treasury coupon securities have retreated in overnight trading. Profit taking resulted from the huge price gains of yesterday as well as from anticipation ahead of the auction of $ 11 billion 30 year bonds today. In addition equity markets have stabilized and the has sapped some of the ...
MBS From Yesterday 07/08/09
Thursday, July 9th, 2009As I mentioned in a previous post we will be celebrating the baptism of my grandaughter on Saturday and preprations for that event will keep me a less frequent blogger again today. But here is a little mortgage color from yesterday. Mortgages spent most of the day 5 ticks to 7 ticks ...
Administrative Note
Wednesday, July 8th, 2009I have not been a consistent blogger today. Long time readers know that my wife and I became grandparents in January. Charlotte Jansen Preall will be baptized this weekend in New York and we are having some family over. Quite a bit of family actually. So I will be a little ...
Convexity
Wednesday, July 8th, 2009I wondered what it was that drove swap spreads tighter overnight. I suspected that the crazed crowd of convexity craving clients had something to do with it. I do not have unequivocal but one dealer whose morning e mail I regularly read notes some convexity based buying of MBS yesterday ...
Swap Spreads
Wednesday, July 8th, 2009Swap spreads are tighter across the curve. Two year spreads are 2 basis points tighter at 36. Five year spreads are 2 basis points tighter at 40 1/2. Ten year spreads are 3 basis points tighter at 16 1/2. Thirty year spreads are 3 basis points tighter at the very ...
IG 12 and Some CDS
Wednesday, July 8th, 2009- 5yr Snr Bank CDS: BAC 208/218 (-2), CITI 405/415 (-2), JPM 100/105 (-3), WFC 143/153 (-1) - 5yr Snr Broker CDS: GS 153/163 (-4), MS 198/208 (-2) - CDS Index: IG12 143.5/144.5 (+1)
RBC is New Primary Dealer
Wednesday, July 8th, 2009NEW YORK, July 7 /PRNewswire-FirstCall/ - RBC Capital Markets today announced that it has been designated a primary dealer by the Federal Reserve Bank of New York, effective tomorrow, July 8, 2009. "This is a logical extension of our global rates franchise, where we are already making markets as the equivalent of a primary ...