Archive for September, 2009
Wednesday, September 9th, 2009
The result of the 10 year reopening was a stellar result from the vantage point of the taxpayers of America. The issue was offered freely in the market at a yield of more than 3.52 percent at 100PM but dealers paid through the market and the competitive bidding process produced ...
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Wednesday, September 9th, 2009
In a scant forty five minutes the Treasury will regurgitate $ 20 billion 10 year notes.
Market sources anticipate that the auction will go quite well. The curve from 2year to 10 year has steepened appreciably as has the 5 year/10 year curve.
There should be a significant arb bid versus the ...
Posted in Uncategorized | Comments Off on Ten Year Auction
Wednesday, September 9th, 2009
Swap spreads are tighter across the curve. Two year spreads are a basis point tighter at 34 basis points. Five year spreads are also a basis point tighter and rest at 37. Ten year spreads arer 2 basis points tighter at 18. Thirty year spreads are a basis point tighter ...
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Wednesday, September 9th, 2009
Analysts at Brown Brothers see support for the Euro at $ 1.4460 and resistance at $ 1.4620.
Analysts at that same firm noted this morning that the 2year/10 year spread in the UK touched a 17 year high of 280 basis points today. Speculation that the Bank of England may (tomorrow) ...
Posted in Uncategorized | Comments Off on Miscellaneous FX Stuff
Wednesday, September 9th, 2009
Regarding AAA ratings for sovereigns, Moodys says that all is well and the outlook for all of those who hold that rating is stable.
These are the same people who looked kindly on the financial alchemy which was known as subprime. The major economies of the world are busy (and quite ...
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Wednesday, September 9th, 2009
Today 0.29869
Yesterday 0.30188
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Wednesday, September 9th, 2009
Prices of Treasury coupon securities are ,on balance posting minute gains in overnight trading.
The yield on the 2 year note slipped a basis point to 0.93 percent. The yield on the 3 year note dropped 3 basis points to 1.49 percent. The yield on the 5 year note fell 2 ...
Posted in Uncategorized | Comments Off on Bond Market Open 09/09/09
Tuesday, September 8th, 2009
Prices of Treasury coupon securities are posting small mixed changes in a day of brisk trading dominated by professionals. (Some with a dry sense of humor quip that professional trading is an oxymoronic expression.)
The highlight of the session was the Treasury sale of $ 38 billion 3 year notes. The ...
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Tuesday, September 8th, 2009
Swap spreads are tighter across the curve.
Two year spreads are 1/2 basis point tighter at 36 1/2. Five year spreads are 3/4 basis point tighter at 38 3/4. Ten year spreads are 3/4 basis point tighter at 19 3/4. Thirty year spreads are 1 basis point tighter at NEGATIVE 14.
The ...
Posted in Uncategorized | Comments Off on Mortgages,Swaps and VOL
Tuesday, September 8th, 2009
By Bryan Keogh and Esteban Duarte
Sept. 8 (Bloomberg) -- CVS Caremark Corp. and Vale SA are
leading at least $11.3 billion of dollar bond sales on the
busiest day this year as stocks rallied.
CVS, the largest U.S. drugstore chain, is marketing a
benchmark sale of bonds due in 2039, while iron-ore maker Vale
is ...
Posted in Uncategorized | Comments Off on More Corporate Bonds Via Bloomberg