Archive for September, 2009
Tuesday, September 15th, 2009
UBS with its forecasts for the various data released tomorrow September 16 2009.
Preview: Gasoline led rise in total CPI/tame core/IP & HMI up again?
(1) The overall CPI likely re-accelerated in August (cons 0.3% m/m, UBSe 0.5% m/m) after no change m/m in July, reflecting a jump in gasoline prices. We ...
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Tuesday, September 15th, 2009
Earlier today I wrote a post about the story which circulated early in the day about Citibank's desire to reduce the government stake in Citi. I spoke of the incongruity of that thought process on a dayin which thehobbled bank was using an FDIC guarantee to raise a chunk of ...
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Tuesday, September 15th, 2009
Administrative Note: I am writing this note about an hour or more earlier than usual because I have personal business to attend to this afternoon. As I begin it is 202PM on the South Shore of Long Island.
Prices of Treasury coupon securities are tumbling once again today as a variety ...
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Tuesday, September 15th, 2009
Mortgages are about 1/2 basis point tighter to swaps. The Federal Reserve has been a buyer of the 5s this day.
Volatility continues to have a bit of a bid. One trader reports that vol is directional and higher rates have caused some to buy protection. In addition, the same source ...
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Tuesday, September 15th, 2009
The corporate bond market remains firm with a robust bid. When I wrote earlier paper was firm and mostly unchanged except for financials which were basking in the falsely reflected glory of Citibank. Now some generic hypothetical corporate bond is about a nickel tighter.
One salesman reports that the long end ...
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Tuesday, September 15th, 2009
Here is a very long piece which is a little bit beyond the ken of my understanding. But I found it interesting as the Federal Reserve via the Maiden Lane vehicle owns a large chunk of Hilton Hotel debt.
The lengthy article is from a publication Debtwire. The story involves Blackstone ...
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Tuesday, September 15th, 2009
three month 10 year 519 153.5 9.6
5year/10 year 1508 123.1 7.7
The 519 and the 1508 are the premiums one would pay if he or she purchased the straddle.
The 9.6 basis points per day and the 7.7 basis points per day are the number of basis points that the market has ...
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Tuesday, September 15th, 2009
With much fanfare the Citibank name is flashed all over the headlines this morning because they want the government out of their hair . The WSJ sory noted that the bank would raise equity capital and would urge the government to reduce its stake by selling some of its holdings.
On ...
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Tuesday, September 15th, 2009
Mortgages are about 2 basis points tighter to swaps on light volume in the early going.
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Tuesday, September 15th, 2009
Swap spreads are a basis point wider across the curve. Two year spreads are at 35 1/2. Five year spreads are at 38 1/2 and ten year spreads are at 20. Thirty year spreads are at NEGATIVE 13.
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