Archive for January, 2014
Friday, January 31st, 2014
Via Bloomberg
Yellen to Give First Testimony as Fed Chairman on Feb. 11
2014-01-31 16:30:03.735 GMT
By Peter S. Green
Jan. 31 (Bloomberg) -- New Fed Chairman Janet Yellen will
testify to House Financial Services Cmte on Fed’s semi-annual
Monetary Policy Report to Congress, discuss state of the U.S.
economy, cmte Chairman Jeb Hensarling, R-Texas, says in ...
Posted in Uncategorized | Comments Off on Yellen First Testimony
Friday, January 31st, 2014
Corporate bond spreads are wider today as that market responds to the turmoil in equities and emerging markets. TMT paper is out 2 to 3 basis points, bank and finance paper is out the same amount and industrials are wider by just one basis point.
Expectation for next week are for ...
Posted in Uncategorized | Comments Off on Corporate Bonds
Friday, January 31st, 2014
I just had a long chat with Michael Craig at Sprott Asset Management in Toronto. He is in a select group of fixed income market participants who enjoyed my mellifluous tones and dulcet New York accent as I was his sales coverage in my time at TD Securities. He has ...
Posted in Uncategorized | Comments Off on Hungary Bond Maturity Monday
Friday, January 31st, 2014
The S and P Index has traded to 1771 this week but for the most part 1175 has held and the lower prices have attracted fresh buying interest. It will be important to see if that trend continues today. In addition, the 100 day moving average on the index is ...
Posted in Uncategorized | 2 Comments »
Friday, January 31st, 2014
The belly of the curve is performing quite well in this risk off move this morning. The Curve has steepened from levels which prevailed when I first marked the curve at about 530AM New York time. So 5s 10s has moved from 115.2 to 115.8 and 5s 30s has steepened ...
Posted in Uncategorized | Comments Off on Treasury Market Update
Friday, January 31st, 2014
FNMA and Freddie Mac are wards of the state and have been such since late summer 2008 when the financial world imploded. Politico.com has an interesting post on the future direction of those entities with former Congressman Mel Watt in charge.
Posted in Uncategorized | Comments Off on Future of Fannie and Freddie
Friday, January 31st, 2014
This is a story from the FT on the rent a boyfriend business in China. I will just say res ipsa loquitur on this one.
Via the FT:
January 30, 2014 10:55 am
For rent: a boyfriend at Chinese new year
By Patti Waldmeir in Beijing
©Sim Chi Yin
Pity the single women of China at ...
Posted in Uncategorized | Comments Off on Res Ipsa Loquitur
Friday, January 31st, 2014
Bloomberg has a story about a slump in house prices in Norway. I post it because it reads like something from 2006 or 2007 here in the States.
Posted in Uncategorized | Comments Off on Norway Housing Slump: Deja Vu All Over Again
Friday, January 31st, 2014
Prices of Treasury coupon securities have pushed higher in overseas trading with the benchmark 10 year note firmly entrenched below 2.70 percent. I can not describe a sole factor for the price gains but instead attribute the move to a confluence of fixed income favorable circumstances. Major equity markets are ...
Posted in Uncategorized | Comments Off on January 31 2014 Opening
Thursday, January 30th, 2014
In my very first post this morning I mentioned the weakness in the Hungary bond market and the rout of the currency. That was courtey of a research piece from my former employer. The WSJ picks up on that them with a lead article on weakness in Emerging Market Europe.
Via ...
Posted in Uncategorized | Comments Off on Emerging Market Europe