Libor
Tuesday, July 28th, 2009I failed to post the Libor open yesterday and missed it crashingthrough 50 basis points. Three month Libor set at 0.49125 today versus 0.49625 yesterday.
Archive for July, 2009
I failed to post the Libor open yesterday and missed it crashingthrough 50 basis points. Three month Libor set at 0.49125 today versus 0.49625 yesterday.
Bond Market Close July 27 2009
Monday, July 27th, 2009Prices of Treasury coupon securities tumbled today but as the market declined the price action and the intra curve dynamics was someone confounding. The preponderance of coupon supply this week is in the shorter end of the yield curve. The only issuance in the longer end was the TIPS auction today ...
Spread Potpourri
Monday, July 27th, 2009Swap spreads remain mixed to slightly tighter. Two year spreads are 2 basis points tighter at 41 1/2. Five year spreads are also 2 basis points tighter at 43 1/2. Ten year spreads are unchanged at 23 and 30 year spreads are unchanged at NEGATIVE 20 1/2. Agency spreads are unchanged ...
Corporate Bonds
Monday, July 27th, 2009Corporate bond spreads are unchanged to as much as a nickel tighter today. Once again there is not a ton trading in the secondary market and one seasoned observer notes that if there were more bonds for sale trading levels would be more expensive. Northrup Grumman is offering 5 year and ...
TIPS
Monday, July 27th, 2009The treasury will auction $ 6 billion 20 year TIPS at 100PM New York time. The auction is a reopening of an outstanding issue. Buyers of TIPS focus on the real yield. The range for the year has been 1.95 to 2.60 and the current 2.30s is mid range. One dealer ...
Military Industrial Complex Needs Working Capital
Monday, July 27th, 2009Northrop Grumman to Sell $750 Million of Notes in 2-Part Issue 2009-07-27 13:32:32.889 GMT By John Detrixhe July 27 (Bloomberg) -- Northrop Grumman Corp. plans to sell $250 million of 5-year notes and $500 million of 10-year bonds as soon as today, according to a person familiar with the offering who declined to be identified because ...
Anachronism
Monday, July 27th, 2009I think these guys are about 150 years late and more than a little bloodshed settled the question.
MBS and Vol
Monday, July 27th, 2009In the early going mortgages are unchanged versus swaps. There is a strong bid for lower coupons in anticipation of a large month end index extension trade. Some one just priced the three month /ten year ATM swaption straddle at 621 1/2 .
Musical Interlude
Monday, July 27th, 2009I have not listened to this one in ages. It is a two disk collection entitled "Donovan Troubadour The Definitive Collection". He does some quintessential 60s stuff which I love and it is easy listening as I chronicle the bond market slaughter.