Archive for September, 2009

Bond Market Open September 21 2009

Monday, September 21st, 2009

Prices of Treasury coupon securities are (mostly) posting modest gains in overnight trading. In a small way risk aversion is back as equity markets around the globe have posted small losses and the hobbled dollar is posting gains versus the Euro. The yield on the 2year note declined a basis point ...

Bond Market Close September 18 2009

Friday, September 18th, 2009

Prices of Treasury coupon securities languished today in a listless, lackluster trading session dominated by the impending crisis of a rather heavy spate of issuance from Timothy Geithner next week. As I have noted previously, the Treasury will immerse the investing public in a bath of $ 112 billion of ...

Miscellany

Friday, September 18th, 2009

Swap spreads are mixed this morning. Two year spreads are a basis point wider at 35 1/2. Five year spreads are flat at 36. Ten year spreads are a basis point wider at 20 1/2. Thirty year spreads are a basis point wider at NEGATIVE 10 1/2. Corporate bond spreads are ...

Treasury Market Update

Friday, September 18th, 2009

It is extremely quiet in the Treasury market today and with no economic data points to observe the focus is on supply. Some of the back up is Friday rate locking in advance of corporate issuance next week. Another chunk is dealers establishing shorts in advance of the $ 112 billion of ...

Recently Priced Financial Names In Corporate Bond Space

Friday, September 18th, 2009

**Recent New Issues in Financials: 9/18/09 LAST:           PRICED: MET  2⅞  9/12     +130/120        +160 PRU  3⅝  9/12     +205/195        +225 PRU  4¾  9/15     +255/245        +250 MS   5⅝  9/19     +229/224        +225 PNC  4¼  9/15     +180/175        +185 GE   4⅜  9/15     +209/204        +200 BACR ...

IG 12 and Some CDS

Friday, September 18th, 2009

- 5yr Life Insurance CDS: GNW 390/420 (unch), HIG 230/245 (-5), LNC 230/245 (-5), MET 220/235 (unch), PRU 210/230 (unch) - 5yr Snr Bank CDS: BAC 108/118 (unch), CITI 180/190 (unch), JPM 64/69 (unch), WFC 73/78 (unch) - 5yr Snr Broker CDS: GS 91/96 (-2), MS 130/140 ...

Libor

Friday, September 18th, 2009

Today  0.28938 Yesterday   0.29188

Bond Market Open September 18 2009

Friday, September 18th, 2009

Prices of Treasury coupon securities are posting mixed and quite minimal changes in overnight trading. There does not appear to have been any market moving economic data in the overnight session and the docket is empty of releases in New York today, too. The yield on the 2 year note increased ...

Bond Market Close September 17 2009

Thursday, September 17th, 2009

Prices of Treasury coupon securities surged today and the back end of the yield curve out performed the shorter dated maturities. it was one of those days in which the participants with whom I converse engaged in much conjecture and surmise but no one had a firm handle on the ...

Swaps and MBS

Thursday, September 17th, 2009

Swap spreads are mixed this day. Two year spreads are flat at 34 1/2. Five year spreads are a basis point wider at 39. Ten year spreads are a basis point flatter at 19. Thirty year spreads are flat at NEGATIVE 11 1/2. Mortgages are in line to a tad weaker ...