Corporate Bonds
Wednesday, March 12th, 2014Corporate bonds are leaking wider as the risk aversion climate affects that sector,too. Industrials are 1 to 1 1/2 wider and bank and finance paper is 2 to 3 wider.
Archive for March, 2014
Corporate bonds are leaking wider as the risk aversion climate affects that sector,too. Industrials are 1 to 1 1/2 wider and bank and finance paper is 2 to 3 wider.
Ten Year Auction Thoughts
Wednesday, March 12th, 2014The US Treasury will offer a fresh batch of 10 year notes later today via a reopening of the outstanding 10 year note. At its current level of 2.75 percent it is dead center in what many investors view as a wide 3 percent to 2.50 range. If you look ...
Corporate Deals
Wednesday, March 12th, 2014These deals begin the corporate flow today: Via Bloomberg: $b European Investment Bank (EIB) Aaa/AAA Global 7Y MS +22 BNP/DB/JPM $b Australia & New Zealand Banking Grp (ANZ) A3/BBB+ 144a/Reg-S ...
Overnight Flows
Wednesday, March 12th, 2014Volume was very light overnight in Treasuries as it came in at only 79 percent of the 10 day moving average. I have heard of these client flows which I did not have earlier. Banks sold 2 year notes, central banks sold the belly and real money bought 7 year notes.
Aging Baby Boomer Alert
Wednesday, March 12th, 2014The blog Naked Capitalism has a link to this list of 50 things that turn 50 in 2014.
FX and Commodity Moves
Wednesday, March 12th, 2014This is a much longer excerpt than usual from Mark Chandler at brown Brothers as it is a comprehensive analysis of the currency and commodity market gyrations: Via Mark Chandler at Brown Brothers Harriman: The price moves are not for the most part very big, but it is beginning to look as ...
March 12 2014 Opening
Wednesday, March 12th, 2014Prices of Treasury coupon securities continue to glide lower as risk off sentiment fuels markets. Equity markets around the globe are taking a real battering. In Asia the Nikkei tumbled 2.6 percent as the yen strengthened. The Hang Seng dropped 1.65 percent and in Australia stocks fell 0.55 percent. The ...
More on Politics
Wednesday, March 12th, 2014The WSJ/NBC poll records that President Obama's approval rating has slipped to a record low. The poll is not all good news for the GOP as it reveals respondents deep dissatisfaction with the GOP with only 25 percent of respondents holding a favorable view of the GOP. Via the WSJ: Politics and ...
More on the Special Election In Florida
Wednesday, March 12th, 2014In my previous post I noted the GOP victory in a special election for a House seat. I think that it is meaningful because it highlights the obstacles the Democrats face if they are to gain ground in their quest to turn the House blue again but with eight months ...
Not Quite Midnight Miscellany
Tuesday, March 11th, 2014Merrill Lynch has bumped up its Q1 GDP forecast to 1.9 percent from 1.8 percent on the increase in wholesales inventory. The report notes that wholesales sales unexpectedly declined a whopping 1.9 percent in January and that decline represented the largest drop for that data set since March 2009 which ...