Archive for September, 2009
Thursday, September 10th, 2009
Corporate bond spreads are a couple of basis points tighter again today. The tone is quite firm and that which trades trades on the "right" side.Recent issuance has been gobbled up by investors as there are still too many dollars in zero percent accounts seeking yield.
Several large names are issuing ...
Posted in Uncategorized | 1 Comment »
Thursday, September 10th, 2009
Swap spreads are unchanged in the early trading. Two year spreads are at 33 basis points and 5 year spreads rest at 36 basis points. Ten year spreads are at 17 basis points and 30 year spreads are at NEGATIVE 17 1/2.
Posted in Uncategorized | 4 Comments »
Thursday, September 10th, 2009
Goldman Says Deleveraging May Keep Fed Rate Low for ‘Years’
2009-09-10 08:28:31.430 GMT
By Simon Kennedy
Sept. 10 (Bloomberg) -- The Federal Reserve may keep
interest rates low for “many years” to help U.S. consumers and
companies as they pare back debt, according to economists at
Goldman Sachs Group Inc.
Sluggish spending as households reduce debt could ...
Posted in Uncategorized | 4 Comments »
Thursday, September 10th, 2009
- 5yr Snr Bank CDS: BAC 152/157 (unch), CITI 253/260 (+2), JPM 66/71 (unch), WFC 83/88 (unch)
- 5yr Snr Broker CDS: GS 129/134 (unch), MS 163/170 (unch)
- CDS Index: IG12 113/114 (+1)
Posted in Uncategorized | Comments Off on Credit Market Open
Thursday, September 10th, 2009
Prices of benchmark US Treasury securities are virtually unchanged in overnight trading. The yield on the 2 year note is 0.92 basis points. The yield on the 3 year note is 1.48 percent. The yield on the 5 year note is 2.36 percent. The yield on the 7 year note ...
Posted in Uncategorized | 5 Comments »
Thursday, September 10th, 2009
today 0.29969
yesterday 0.29869
Posted in Uncategorized | Comments Off on Libor
Wednesday, September 9th, 2009
Prices of Treasury coupon securities are posting small mixed changes today with the yield curve steepening for the 10 year note and the 30 year bond auction tomorrow.
The yield on the 2 year note declined 2 basis points to 0.92 percent. The yield on the 3 year note slipped 3 ...
Posted in Uncategorized | 1 Comment »
Wednesday, September 9th, 2009
Mortgages are a tick tighter to swaps.
Swap spreads are tighter across the yield curve. Two year spreads are 1 1/2 basis points tighter at 33 1/2. Five year spreads are 2 basis points tighter at 36. Ten year spreads are 3 basis points tighter at 17. Thirty year spreads are ...
Posted in Uncategorized | Comments Off on Swaps and MBS
Wednesday, September 9th, 2009
I have for some time presented each day the the premium on the three month/ten year ATM swaption straddle. Beginning today I will add the 5year/10 year ATM swaption straddle and will offer a slightly different presentation.
3mx10y 495 147bp 9.2bp/day
5yx10y 1475 121bp 7.6bp/day
The 495 and the 1475 are the premiums one ...
Posted in Uncategorized | 2 Comments »
Wednesday, September 9th, 2009
The Zero Hedge blog consumes much time and effort on the topic of the Federal Reserve and monetization of the debt. I have involved myself in several high level fracases with the folks who run that blog.
I had promised myself that I would not be controversial again regarding that site ...
Posted in Uncategorized | 29 Comments »