Archive for April, 2014

Corporates Thus Far

Tuesday, April 15th, 2014

Via Bloomberg: Wal-Mart Stores 2 bln  Aa2/AA  3,10 & 30 yr ipt  3 yr +25-30 10 yr +85 area 30 yr +Mid/High-90s Plains All American Pipeline 500mm Baa2/BBB    30 yr ipt +Low-140s BioMed Realty 350mm Baa3/BBB    5 yr ipt  +137.5 area And "in the works" Bank Nederlandse Bank Nederlandse Gemeenten B'Mark Aaa/AA+  7 yr ipt ms+low 40's Office Cherifien de ...

JPM Duration Survey

Tuesday, April 15th, 2014

Via the Good Folks at Bloomberg: By Robert Elson April 15 (Bloomberg) -- The JPMorgan Treasury Client Survey for the week ended April 14 vs week ended April 7. * Longs 11 vs 25 * Neutrals 57 vs 55 * Shorts 32 vs 20 * Net longs -21 vs 5 * "The all clients survey shows the most ...

Some Overnight Flow Info

Tuesday, April 15th, 2014

Via David Ader at CRT: OVERNIGHT FLOWS:  Treasuries were modestly lower overnight with the declining UK inflation and German ZEW as the most relevant releases – although offering little trading direction.  We also saw a pullback in Chinese M2 that brought into question the trajectory of GDP.   Overnight volumes were light ...

Today’s Earnings Calendar

Tuesday, April 15th, 2014

US EARNINGS: Some of biggest names to report Q1 earnings near-term include: Date Company Estimate/share Apr 15 Coca Cola Co $0.44 Apr 15 Johnson & Johnson $1.48 Apr 15 Intel Corp $0.37 Apr 15 Yahoo! Inc $0.37 Apr 15 Charles Schwab Corp $0.22

Mark Chandler on FX

Tuesday, April 15th, 2014

Via mark Chandler at Brown Brothers: Price action: The dollar is flat against the yen, but is higher against the other major and emerging market currencies.  The greenback's strength is evident against the dollar bloc and the Swedish krona, where a rate cut is being priced in for June.  Among the ...

April 15 2014 Opening

Tuesday, April 15th, 2014

Prices of Treasury coupon securities have registered mixed results when compared to levels which prevailed in New York trading around 400PM yesterday. The yield on the 5 year note has increased to 1.62 from 1.61. The yield on the 10 year note has increased to 2.655 from 2.641. The yield ...

Yellen Speech

Tuesday, April 15th, 2014

Speech--Chair Janet L. Yellen Opening Remarks At the Federal Reserve Bank of Atlanta Conference: 2014 Financial Markets Conference, Stone Mountain, Georgia 8:45 a.m. ET That is via this Board of Governors website which is useful and which I only discovered yesterday.

China Credit Growth: Healthy

Monday, April 14th, 2014

China released data on credit growth this evening and there is no smoking gun here to give an informed observer the thought that the central bank is reining in credit growth. Aggregate financing is the broadest measure of credit creation and that metric more than doubled to RMB 2.07 trillion ...

Client Flows

Monday, April 14th, 2014

Via RBS Securities : Our Treasury flows were subdued today. We had fast$ and real$ selling in 5yrs, a quiet trade in the front end and little flow in 30yr bonds despite their relatively solid performance (on the curve) again today. In Swaps we had a hedge fund that received in ...

Wells Deal Prices

Monday, April 14th, 2014

The Wells Fargo 5 year deal priced at + 57. The inital price talk was + 65 . That is another fine example of the pile of money seeking a home in quality paper. My favorite source in this sector had thought it would price at +60. Via Bloomberg: Wells Fargo & ...