Archive for February, 2014
Friday, February 21st, 2014
Action Economics with a short note on the decline of excess liquidity in Europe:
05:40 ET Eurozone excess liquidity at lowest since 2011, according to Bloomberg data, which showed excess liquidity dropped EUR 9 bln to EUR 120.6 bln. This is the lowest level since December 2011. The ECB will announce ...
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Friday, February 21st, 2014
Via Mark Chandler at Brown Brothers:
Although the British pound is slightly lower on the week, its resilience remains remarkable. It made a new low for the week, near $1.6615 in response to the 1.5% decline in January retail sales, but quickly rebounded to new session highs (~$1.6680). Better than expected ...
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Friday, February 21st, 2014
Stratfor suggesting that Putin is employing the rope a dope strategy in Ukraine.
Via Stratfor:
Russia Waits Out the Ukraine Crisis
Ukraine has completed yet another cycle of warlike live streams, diplomatic appeals for calm and government concessions of questionable sincerity. The tenuous calm now seen in the streets is owed more to ...
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Friday, February 21st, 2014
Prices of Treasury coupon securities are marginally lower when compared to levels which prevailed at about 830PM New York time last night. The declines in price are quite small (2s and 3s actually unchanged) with 5s through 30s lower by 1 tick or 2. Volumes were light and at this ...
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Friday, February 21st, 2014
Finance ministers of G 20 nations and other potentates will gather in Australia this weekend to discuss the many issues which affect the global economy. I have not followed this story and doubt the meeting produces any meaningful outcome as there is no especially dire crisis at hand at the ...
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Thursday, February 20th, 2014
Sean Trende is a columnist/analyst for realclearpolitics.com. The site has a right leaning bent but I do believe that there election analysis is objective. Mr Trend published a piece today on the fight to control the Senate and ties his analysis to the approval rating of the President. The President ...
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Thursday, February 20th, 2014
Bank America research regularly reports on its internal tracking of spending on credit cards and debit card. Given the Brobdingnagian size of that bank and its presence across a wide swath of America the results of that survey bear watching. In the latest week spending has increased but is still ...
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Thursday, February 20th, 2014
TDSecurities on Philly Fed
The Philly Fed manufacturing index deteriorated substantially in February, plunging to -6.3 from 9.4. The decline confirms the softening prospects for February manufacturing suggested by Monday’s decline to 4.48 from 12.51 in the survey’s Empire manufacturing counterpart. The Philly Fed nevertheless noted that “much of the weakness ...
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Thursday, February 20th, 2014
Swap spreads are violently unchanged today in quiet professional trading. There is no real theme guiding that market at the moment at spread changes have been directional, tightening when treasuries sell off and widening in a rally. One trader with whom I spoke thought that if there was a resting ...
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Thursday, February 20th, 2014
The Treasury market has turned south and yields are rising. Traders are brushing off weak data and have focused on supply and the intimations from the FOMC of higher rates. That has motivated yield curve flattening transactions today by street traders and hedge funds. I have heard of central bank ...
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