Archive for July, 2009
Friday, July 31st, 2009
Prices of Treasury coupon securities posted modest losses in overnight trading as participants await a flood of data today with most honed in on the first peek at Q2 GDP.
The yield on the 2 year note has climbed 2 basis points to 1.18 percent. The yield on the 3 year ...
Posted in Uncategorized | 4 Comments »
Thursday, July 30th, 2009
Just a thought..........but if they cant run this enterprise what will it be like when the bureaucrats have a larger share of the health care pie?
Posted in Uncategorized | 21 Comments »
Thursday, July 30th, 2009
Prices of Treasury coupon securities (for the most part ) posted gains today and the longer the maturity of the issue the greater were the gains.
The yield on the 2 year note increased a solitary basis point to 1.17 percent. The yield on the 3 year note was unchanged at ...
Posted in Uncategorized | 1 Comment »
Thursday, July 30th, 2009
Swap spreads are wider in each bucket. Two year spreads are 2 basis points wider at 37. Five year spreads are 1 1/2 basis points wider at 36 3/4. Ten year spreads are 3/4 basis points wider at 24 3/4. Thirty year spreads are less inverted by 2 3/4 basis ...
Posted in Uncategorized | Comments Off on MBS and VOL and Swaps
Thursday, July 30th, 2009
Corporate bonds are screaming tighter today. Across the board, paper is 10 basis points to 20 basis points tighter. Salespersons report that if you hold quality paper and you show an offering ,then you are likely to get lifted.
One salesman noted that over the past two days GE paper and ...
Posted in Uncategorized | 4 Comments »
Thursday, July 30th, 2009
I was long 1000 LQD at $ 101.30. I just liquidated the position at $103.15. i bought it as an "investment' on July 21.
i will give my corporate bond report in a moment but it seems like spreads are running too far and too fast.
And no one ever got fired ...
Posted in Uncategorized | 1 Comment »
Thursday, July 30th, 2009
Ford Motor Credit Co 1.75 bln
3 yr FXD
launched price
Coupon 7.50%
guidance 10.875%
OID 91.589
Posted in Uncategorized | 3 Comments »
Thursday, July 30th, 2009
The treasury successfully auctioned $ 28 billion 7 year notes at a yield of 3.369 percent. That was 3 basis points expensive to levels which prevailed in the market at bidding time. So, whereas yesterday there was a 5 basis point tail in which the auction yield was 5 basis ...
Posted in Uncategorized | 1 Comment »
Thursday, July 30th, 2009
Predicting the results of the auctions is normally rather prosaic and pedestrian but this week it is a particularly perilous enterprise. The first two auctions have surprised prognosticators with weak demand and tails.
This issue , as was the 5 year note and to a lesser extent the 2 year note ...
Posted in Uncategorized | 7 Comments »
Thursday, July 30th, 2009
Someone just informed me that the price talk for Ford is 11 1/2 percent plus or minus 1/8.
Posted in Uncategorized | Comments Off on Ford Price Talk