Archive for January, 2014
Wednesday, January 29th, 2014
When I was a novice in the business the weekly money supply data was the equivalent of what the monthly labor report is today in the US. So it is a trip down memory lane to see someone write about money supply even if it is the ECB version. ECB ...
Posted in Uncategorized | Comments Off on Money Supply and the ECB
Wednesday, January 29th, 2014
Prices Of Treasury coupon securities have registered modest losses in overnight trading as the punitive rate hikes in Turkey have stabilized the currency market in emerging market space. I should note that there has been a recent reversal of the risk on mentality. So the Turkey real traded around 2.16 ...
Posted in Uncategorized | Comments Off on January 29 2014 Opening
Tuesday, January 28th, 2014
I just checked in with an options trader to gain intelligence on the state of the vol world with emerging market turbulence all around us and the FOMC announcing a decision tomorrow. I was a bit disappointed as I thought that market would provide some pithy insights. He said that ...
Posted in Uncategorized | Comments Off on Volatility Report
Tuesday, January 28th, 2014
It is a rather quiet day in the fixed income markets as investors and traders await the ex cathedra proclamation from the central bank tomorrow at 215PM. Client flows are light everywhere. I usually just speak to dealers about that but I went so far today as to ask buy ...
Posted in Uncategorized | Comments Off on Midmorning Update
Tuesday, January 28th, 2014
The US Treasury will baptize dealers today with $32 billion 2 year notes as this week of heavy supply begins. The WI is trading at .385 as I compose this electronic missive. One trader whose note I have read remarked that for the most part off the runs in the ...
Posted in Uncategorized | Comments Off on Two Year Note Auction Today
Tuesday, January 28th, 2014
Durable goods orders for December came in quite weak this morning and have been a source of angst as economists and investors pore over the details. The bottom line is that it does not augur well for capital spending in 2014 and might (at least around the edges) lead to ...
Posted in Uncategorized | Comments Off on
Tuesday, January 28th, 2014
I spoke with a fully paid up subscriber and long time friend of the blog regarding the Turiksh Central bank decision later today. He referred me to this Financial Times article from last week which describes the policy mechanisms which the central bank can employ. I will cut and paste ...
Posted in Uncategorized | Comments Off on Monetary Policy Tools in Turkey
Tuesday, January 28th, 2014
Via the good folks at Bloomberg:
Today at 8:14 AM
The Goldman Sachs Group, Inc. B'Mark Baa1/A- 2 part
5 yr fxd Global & Tap 11/2018 frn mtn Series D
asap
ipt +120 area
tap 3ml equiv
Posted in Uncategorized | Comments Off on GS 5 Year Issue
Tuesday, January 28th, 2014
As you probably know Apple earning s disappoints late yesterday. I think that earnings were OK but sales lagged. Anyway, the stock closed at $550 yesterday and in premarket trading it is $511.45/$512.18. The Nasdaq will be under pressure all day because of this. The 100 day moving average is ...
Posted in Uncategorized | Comments Off on Rotten Apple
Tuesday, January 28th, 2014
The actuarial charts are catching up with icons of the 1950s and 1960s as one by one they shake off these mortal coils.
Pete Seeger was a folk singer and a human rights advocate. If you are not familiar with him you would probably recognize covers of his work by others. ...
Posted in Uncategorized | Comments Off on Aging Baby Boomer Alert