Archive for April, 2014
Tuesday, April 1st, 2014
In my opening note I commented that I thought it was unusual for a Federal Reserve Chairman to cite the plight of regular folks and the difficulty which they confronted in finding gainful employment. It turns out that Ms Yellen's staff did her a disservice as two of the three ...
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Tuesday, April 1st, 2014
The FT has an interesting article on water shortages and how that affects business planning. This is not something I spend much time thinking about but with the drought in California and other parts of the world this actually a pertinent topic.
Via FT
March 31, 2014 4:55 pm
Water shortages pose growing ...
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Tuesday, April 1st, 2014
Via CRT Capital:
OVERNIGHT FLOWS: Treasuries were under pressure on better European employment data. Overnight volumes were strong with cash trading at 136% of the 10-day moving-average, while TY came in at 95% of norms. 5s were the most active issue, taking a 26% marketshare, while 10s took 24% and 2s ...
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Tuesday, April 1st, 2014
Via Mark Chandler of Brown Brothers:
First, Japan's Tankan survey generally showed improvement, but slightly less than the consensus expected. For example, the much followed sentiment among large manufacturers improved to 17 from 16. This is the highest since 2007, but fell shy of the 19 the consensus forecast.
Evident in ...
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Tuesday, April 1st, 2014
JPMorgan Weekly Duration Survey:
Via the good folks at Bloomberg:
All Clients
Long Neutral Short
March 31 13 64 23
March 24 11 64 25
March 17 17 58 25
Active Clients
March 31 8 62 30
March 24 0 62 38
March 17 15 54 31
In the all clients survey, the percent of longs increased by 2, and the ...
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Tuesday, April 1st, 2014
Prices of Treasury coupon securities have dropped in overnight trading and the steepening trade induced by Ms Yellen's premeditated modification of her post FOMC meeting remarks continued unabated. The yield on the 10 year notes rests at 2.748 this morning and that is just marginally lower than where it traded ...
Posted in Uncategorized | Comments Off on April 1 2014 Opening
Tuesday, April 1st, 2014
Via Bloomberg:
$1b Kommuninvest i Sverige Aktiebolag (KOMINS) Aaa/AAA
144a/Reg-S 3Y MS +6 C/DB/HSBC/Miz
$550m M.I.T. (MASSIN) Na/AAA Barc/JPM/MS
100Y +115-120
$tbd Shinhan Bank (SHNHAN) A1/A 144a/Reg-S
3Y FRN 3ML +80 area BAML/CrAg/C/JPM/SCB
Posted in Uncategorized | Comments Off on An Early Start to the Corporate Bond Day