Archive for November, 2009
Tuesday, November 17th, 2009
A lot of questions about why MBS are significantly weaker today
(now about 5 to 6 ticks vs UST). First there has been some sell
-ing. Second, the short base has been squeezed out over the
past two weeks (net of today MBS are still over 1 point tighter
over this period). Third, the ...
Posted in Uncategorized | 2 Comments »
Tuesday, November 17th, 2009
Mortgages got smoked late yesterday as servicer selling and orignation selling blessed the street with chunks of bonds post 300Pm yesterday.
That selling continues this morning and traders report that bonds are 1 tick to 2 ticks wider versus swaps today and about 8 ticks wider versus levels which prevailed at ...
Posted in Uncategorized | 2 Comments »
Tuesday, November 17th, 2009
Gerdau May Sell Up to $1 Billion 10-Year Bonds to Yield 7.375%
2009-11-17 13:27:30.989 GMT
By Veronica Navarro Espinosa
Nov. 17 (Bloomberg) -- Gerdau SA, Latin America’s largest
steelmaker, may sell as much as $1 billion of 10-year bonds to
yield about 7.375 percent, according to a person familiar with
the transaction who declined to be ...
Posted in Uncategorized | Comments Off on New Issue
Tuesday, November 17th, 2009
THIS WEEK LAST WEEK 2WKS AGO
LONG 29 27 22
SHORT 20 20 21
NEUTRAL 51 53 ...
Posted in Uncategorized | Comments Off on JPMorgan Client Duration Survey
Tuesday, November 17th, 2009
HONG KONG, KOREAN, LATIN AMERICAN ELEMENTS AND OTHERS SEEN BUYING DOLLARS OVERNIGHT. LOOKS LIKE $2BLN VISIBLE BUT ONLY ABOUT HALF OF THAT WILL BE RE-INVESTED WITH TE OTHER HALF TO PAY OFF DOLLAR DEBT. STILL SHOULD SEE SOME CENTRAL BANK BUYING POST 8:30 DATA, THOUGH WE THINK INDUSTRIAL PRODUCTION AT ...
Posted in Uncategorized | Comments Off on More Intervention and Other Stuff Via Anonymous Dealer
Tuesday, November 17th, 2009
I added an excellent new blog to the roll, Cali Beach Pundit.
Posted in Uncategorized | Comments Off on Addition to Blogroll
Tuesday, November 17th, 2009
Today 0.27031
Yesterday 0.27125
Posted in Uncategorized | Comments Off on Libor
Tuesday, November 17th, 2009
The RBA again expressed caution about the speed of prospective rate hikes in coming months reinforcing our view that the next hike is unlikely until Q110. The minutes from the last meeting Nov 3 revealed some caution from the policymakers in terms of balancing risks of inflation against the possibility ...
Posted in Uncategorized | 1 Comment »
Tuesday, November 17th, 2009
Taiwan Bought U.S. Dollars to Slow Currency Gains, Traders Say
2009-11-17 11:16:37.24 GMT
By Yu-huay Sun and Lilian Karunungan
Nov. 17 (Bloomberg) -- Taiwan’s central bank intervened in
the foreign-exchange market to slow gains in the local currency,
said two traders familiar with the bank’s operations. The
island’s dollar rose to the highest level in more ...
Posted in Uncategorized | 2 Comments »
Tuesday, November 17th, 2009
Prices of Treasury coupon securities have posted modest losses in overnight trading as the bond market surrenders some of the chunky gains achieved yesterday in response to the Bernanke papal bull. That proclamation was a solid recitation of a litany of reasons why the funds rate is likely to remain ...
Posted in Uncategorized | Comments Off on Bond Market Open November 17 2009