Libor
Thursday, August 20th, 2009Today 0.40688 Yesterday 0.41875
Archive for August, 2009
Bloomberg Story on Treasury Supply
Thursday, August 20th, 2009A friend of the blog alluded to this Bloomberg story in a morning e mail. The story discusses Treasury supply and I think it is notable because of the less than friendly commentary by some of the overseas portfolio managers who spoke with Bloomberg.
Bond Market Open August 20 2009
Thursday, August 20th, 2009Prices of Treasury coupon securities are posting modest losses in overnight trading in response to stability and gains in the various global equity markets. Those gains and the diminution of angst associated with that improved mood has sapped the sex appeal of risk free Treasury securities. The yield on the 2 ...
August 19 2009
Wednesday, August 19th, 2009Prices of Treasury coupon securities are posting solid gains today but have retreated from the best levels attained earlier in the day. Plunging equities (particularly in Asia) gave the market an overnight bid. Another aspect of the strong opening was news from UK that several policy makers had fought for ...
MBS and SWAPS and VOL
Wednesday, August 19th, 2009Mortgages are unchanged to swaps today. Swap spreads are wider in every bucket. Two year spreads are 3/4 basis point wider at 43 3/4. Three year spreads are a basis point wider at 52 1/4. Five year spreads are 1 basis point wider at 44. Seven year spreads are 1/2 basis point ...
Corporate Bonds
Wednesday, August 19th, 2009Corporate bond spreads are 5 basis points to 10 basis points wider today. Some industrial names suffered less and are 3 basis points to 5 basis points wider. The bleeding abated with the turnaround in the equity market but there has not been the corresponding tightening of spreads as stock rebound. Viacom ...
Agency Market
Wednesday, August 19th, 2009Agency spreads have cratered over the last week. Two year spreads had reached 2 basis points and they are out to 7 basis points. FNMA priced a 5 year at 43 1/2 basis points and it is trading at 49 basis points. And mid week last week 10 year spreads were ...
Bronte Capital
Wednesday, August 19th, 2009When I was making the rounds of my sources in the agency market someone pointed out the voluminous and comprehensive series of postings by the Bronte Capital blog on the GSEs. I do not know anything about the firm and I do not think I have seen its blog before. I have ...
Buyback Result
Wednesday, August 19th, 2009Fed buys about $ 2.6 billion of about $ 13.1 billion offered. They bought $ 1.4 billion of the 8 Nov 2021.
Morning Miscellany
Wednesday, August 19th, 2009Benchmark Treasury issues have retreated from their best levels of the day as stocks have recovered following sharp losses in the initial round of trading.Maybe one of our equity followers can chime in with a reason for the rebound. One of the fixed income fellows with whom I chat suggested that ...