Archive for August, 2009
Saturday, August 22nd, 2009
Bruce Krasting (real name) is a contributor at Zero Hedge and mounts a spirited defense of that blog in a recent post.
One should not take the post seriously as he misstates that amount of securities that the Federal Reserve is purchasing in its ongoing Quantitative Ease efforts.
Mr Krasting states that ...
Posted in Uncategorized | 35 Comments »
Saturday, August 22nd, 2009
That is the title of a posting at the Zero Hedge Blog today. The blog wraps itself in a veil of secrecy and the author/authors made the blog the story today as it described "mainstream media " attempts to penetrate its veil of secrecy.
Several weeks ago that blog and myself ...
Posted in Uncategorized | 27 Comments »
Friday, August 21st, 2009
Prices of Treasury coupon securities slumped rather dramatically today. Market participants report that trading professionals took the existing home sales report as an opportunity to bludgeon the market in preparation for the batch of auctions next week.
There was some buying by central banks who waded into the belly of the ...
Posted in Uncategorized | 5 Comments »
Friday, August 21st, 2009
I could not resist reading the text of the Bernanke speech.
It is a recapitulation of the events of the past year but sheds no light on the future course of monetary policy.
There were a couple of interesting nuggets,though.
He refers to the "near failure" of Bear Stearns. I guess in the ...
Posted in Uncategorized | 9 Comments »
Friday, August 21st, 2009
Today 0.39313
Yesterday 0.40688
Posted in Uncategorized | Comments Off on Three Month Libor in the 30s
Friday, August 21st, 2009
**New Issue Update: Financials 8/21/09
LAST: PRICED:
GE 3½ 8/12 190/185 +180 VS T3
RABOBK 2.65 8/12 98/93 +92 VS T3
CS 5.3 8/19 182/177 ...
Posted in Uncategorized | Comments Off on New Issue (Financial) Update
Friday, August 21st, 2009
- 5yr Snr Bank CDS: BAC 157/167 (-5), CITI 273/283 (-4), JPM 67/72 (-1), WFC 93/98 (-2)
- 5yr Snr Broker CDS: GS 143/148 (-1), MS 177/187 (-3)
- CDS Index: IG12 117/118 (-3)
Posted in Uncategorized | Comments Off on IG 12 and Some CDS
Friday, August 21st, 2009
I may end up doing some cutting and pasting. Here is an email from a dealer (unnamed) which describes the very heavy trading volume in Asia last night:
FYI- today was the biggest volume day of 2009 for USTs in Asia
time (defined as before 3pm in Tokyo, which is 7am in ...
Posted in Uncategorized | Comments Off on Busy Bond Buyers
Friday, August 21st, 2009
I remain in quite a bit of pain this morning so blogging will be sparse today.
Sitting in a chair and talking on the telephone is not conducive to improving my situation.
So there will be very little today unless I feel better.
Posted in Uncategorized | 3 Comments »
Thursday, August 20th, 2009
My back is riddled with herniated disks and at various points they are expressing their displeasure today. So I will attempt this close in abbreviated fashion and in a different manner than my normal presentation.
There is an interesting battle developing in the bond market. On the one side stands those ...
Posted in Uncategorized | 14 Comments »